Pakistan stocks end lower; rupee weakens vs dollar

Karachi Stock Exchange – File photo by AFP
Karachi Stock Exchange – File photo by AFP

KARACHI: Pakistani stocks closed lower on Tuesday as investors booked profits after stocks closed at a four-year high on Monday.

The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.26 per cent, or 40.36 points, lower at 15,388.13, on total volume of 180.46 million shares.

“Overall market remained under selling pressure as investors opted to book profit after the healthy market rally in last few trading sessions”, said Samar Iqbal, a dealer at Topline Securities.

In the currency market, the Pakistani rupee ended slightly weaker at 94.76/94.81 to the dollar, compared to Monday’s close of 94.64/94.69.

Overnight rates in the money market ended steady at 8.00 per cent.

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