Dear reader, online ads enable us to deliver the journalism you value. Please support us by taking a moment to turn off Adblock on

Pakistani stocks close lower as 11-day rally ends

KARACHI: Pakistan's stocks closed lower on profit-taking on Thursday after 11 consecutive rising sessions, as investors decided not to push their luck too far.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.73 percent, or 150.09 points, lower at 20,416.60.

Muslim Commercial Bank Ltd and Oil and Gas Development Company Ltd saw some correction after rallying for several days.

Muslim Commercial fell 4.68 percent to 275 rupees and Oil and Gas was down 0.22 percent at 211.25 rupees.

In the currency market, the rupee ended weaker at 98.50/98.55 against the dollar, compared to Wednesday's close of 98.45/98.50.

Overnight rates in the money market remained flat at 9.40 percent.

DAWN_VIDEO - /1029551/DAWN-RM-1x1

LARGE_RECTANGLE_BOTTOM - /1029551/Dawn_ASA_Unit_670x280

Comments (0) Closed