Pakistani stocks end lower; rupee steady; o/n rates flat

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Pakistan's main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.67 percent. Reuters Pakistan's main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.67 percent. Reuters
SummaryThe rupee ended almost steady at 105.32/105.37 against the dollar compared to Thursday close of 105.35/105.40.

Pakistan's main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.67 percent, or 180.73 points, to 26,681.78.

Lack of institutional interest led to the index shedding 181 points with low participation. Moreover, the announcement of mixed results failed to lift spirits at the bourse.

Selling pressure was seen in index heavy weights like Pakistan State Oil Co Ltd, Engro Corporation Ltd, Hub Power Co Ltd, amongst others. said Asad Siddiqui at Topline Securities.

Pakistan State Oil Co Ltd fell 1.38 percent to 343.90 rupees while Hub Power Co Ltd was down 0.52 percent to 63.10 rupees.

The rupee ended almost steady at 105.32/105.37 against the dollar compared to Thursday close of 105.35/105.40.

Overnight rates in the money market remained flat at 10.00 percent.

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