Pakistani stocks end lower, rupee strengthens, Overnight rates rise

Reuters Posted online: Friday, Feb 14, 2014 at 0000 hrs
Karachi : Pakistan's main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.55 percent, or 147.13 points, to 26,394.13.

Disappointed investors booked profit in Engro Corporation Ltd after its December result announcement because the payout was not in line with expectations, said dealer Samar Iqbal at Topline Securities.

Engro Corporation Ltd fell 2.98 percent to 181.80 rupees while Engro Fertilizer Ltd was down 1.64 percent to 55.80 rupees.

The rupee ended higher at 104.82/104.87 against the dollar compared to Thursday's close of 104.87/105.93.

Overnight rates in the money market rose to 10.00 percent form Thursday's close of 7.50 percent.