Pakistani stock market ends down

Published Aug 24, 2012 02:31pm

Traders on the floor of the Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks ended lower on Friday as investors braced for the possibility of fresh political instability, traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.27 per cent, or 41.37 points, lower at 15,039.18, on volume of 15.79 million shares.

“Investors are being cautious ahead of the Supreme Court hearing next week,” said Mohammad Sohail, chief executive at Topline Securities.

Engro Corp was the biggest winner, gaining 3.01 per cent to close at 96.50 rupees.

Prime Minister Raja Pervez Ashraf is due to appear before the Supreme Court on Aug 27 over his failure to comply with orders to reopen corruption cases against President Asif Ali Zardari.

The move, another twist in a long-running standoff between the government and the judiciary, could lead to further political turmoil.


Do you have information you wish to share with Dawn.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or narrative to share, or reach out to the Special Projects Desk to send us your Photos, or Videos.

More From This Section

Comments (0) Closed