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Pakistani stocks end lower; rupee strengthens

Karachi: Pakistan's main stock exchange closed lower on Wednesday with the benchmark 100-share index of the Karachi Stock Exchange falling 0.22 per cent, or 58.10points, to 26,595.63.

Participation remained on the lower side as investors are waiting for continued positivity in regional markets.

Index heavy-weights like Oil and Gas Development and Pakistan State Oil saw profit-taking.

The prime minister's address in the National Assembly regarding security concerns was also in line with market expectations and did not have a negative impact on investor sentiments, said dealer Fahad Qasimat Topline Securities.

Oil and Gas Development Co Ltd fell 0.16 per cent to 272.50 rupees while Pakistan State Oil Co Ltd was down 1.26 per cent to 330.06 rupees.

The rupee ended higher at 105.33/105.38 against the dollar compared to Tuesday's close of 105.40/105.46.

Overnight rates in the money market remained flat at 10.00 per cent.

Source: Reuters

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