Dawn News

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

KARACHI: Pakistani stocks closed lower on Thursday as investors engaged in a pre-weekend sell-off after the market traded at an all time-high.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.93 per cent, or 146.94 points, lower at 15,698.36 on total volume of 112.15 million shares.

“The market flirted with its all-time highs. Then, there was selling from institutional investors, which brought along selling from retailers,” said Suleman Maniya at Al-Meezan Investments.

In the currency market, the Pakistani rupee ended slightly stronger at 95.48/95.68 compared to Thursday’s close of 95.50/95.70 to the dollar.

Overnight rates in the money market closed at 7.00 per cent compared to Thursday’s 9.90 per cent.


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