Institutional profit-taking weighs down on KSE
KARACHI: Karachi Stock Exchange (KSE) lost 0.63 percent on Monday as institutions booked profits by offloading holdings in the banking and oil & gas sectors.
The KSE-100 Index fell by 161.70 points, to close at 25,417.63-level.
The apex bourse remained under pressure owing to profit-taking and somewhat diminished interest of the traders.
Muslim Commercial Bank Ltd fell 4.95 percent to Rs284.70, while Pakistan State Oil Co Ltd was down 1.11 percent to close at Rs333.10.
Whereas in the currency market, the rupee was higher at 105.85/105.95 against the dollar, compared to Friday’s close of 106.15/106.20.
As far as call money is concerned overnight rates in the market dropped to 8 percent from Friday’s 10 percent.
