Dawn News

Pakistani stocks end lower; rupee strengthens

A trader on the floor of the Karachi Stock Exchange.—Reuters (File Photo)

KARACHI: Pakistani stocks ended lower on Thursday as investors remained cautious about the security situation in Pakistan. 

The Pakistani government declared Friday a holiday and a national day of mourning after Pakistani citizens protested against an anti-Islamic film.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.87 per cent, or 136.02 points, lower at 15,452.64, on total volume of 159.26 million shares.

“Due to long weekend and prevailing law and order situation in the city, across the board selling was witnessed. Increased leverage position also forced investors to trim their portfolios,” said Samar Iqbal at Topline Securities.

In the currency market, the Pakistani rupee ended slightly stronger at 94.46/94.51 to the dollar, compared to Wednesday’s close of 94.48/94.54.

Overnight rates in the money market ended at 10.40 per cent compared to Wednesday’s close 9.50 per cent.

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