Pakistani stocks end lower; rupee weakens
KARACHI: Pakistan’s main stock exchange closed lower on Friday with the benchmark 100-share index of the Karachi Stock Exchange fell 0.23 percent, or 61.45 points, to 27,002.89.
Consolidation was seen today after market has gained 7 percent since beginning of this year.
Profit taking was seen in textile and cement stocks. Engro foods rallied amid short-covering after the earnings announcement of Rs.1.14 for the year.
Nishat Mill Ltd fell 1.77 percent to 135.69 rupees and D.G.Khan Cement Co Ltd was down 1.44 percent to 94.25 rupees.
The rupee ended weaker 105.45/105.50 against the dollar compared to Thursday’s close of 105.35/105.38.
Overnight rates in the money market remained flat at 10.00 percent. (Reuters)
