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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 0.58 per cent, or 143.09 points, to 24,445.38.

Some profit taking was seen at the bourse as a result of which the benchmark index closed at the level of 24,445, down 143 points.

The Pakistan Telecommunication Co Ltd rose 2.75 per cent to 30.68 rupees while Engro Corporation Ltd was down 1.68 per cent at 153.60 rupees.

The rupee ended at 108.50/108.56 against the dollar, compared to Tuesday’s close of 108.57/108.63.

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

Source: Reuters



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