Business

KSE 100-Index lower as oil prices dip; rupee strengthens

KARACHI: Karachi Stock Exchange (KSE) closed slightly lower on Friday, as market heavyweights in the energy sector were weighed down by falling oil prices.

The KSE 100-share index closed 0.63 percent or 212.58 points down at 33,530.30.

Pakistan Petroleum Ltd fell 4.89 rupees to 180.10 rupees, while market heavyweight Oil and Gas Development Co Ltd was down 4.42 rupees to 190.01 rupees.

The rupee ended slightly stronger at 101.68/101.74 against the dollar, compared with Thursday’s close of 101.72/101.77.

Overnight rates in the money market fell to 7.00 percent from Thursday’s close of to 8.00 percent.

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