Volume was up at 49.27 million shares, compared with 39.57 million shares traded on Monday. - File photo

KARACHI: Pakistani stocks ended lower on Tuesday but losses were offset by investors snapping up fertiliser shares on hopes of an anticipated easing of gas shortages, dealers said.

The Karachi Stock Exchange's benchmark 100-share index  fell 0.12 percent, or 14.47 points, to close at 11,994.01.

Volume was up at 49.27 million shares, compared with 39.57 million shares traded on Monday, but still trading was very light.

Fatima Fertiliser rose 1.25 percent to 24.30 rupees and Engro Corp ended 3.76 percent at 134.60 rupees.

In the currency market, the rupee ended at 86.80/86 to the dollar, compared with Monday's close of 86.63/69, despite an increase in remittances from overseas Pakistanis, because of increased import payments.

According to official data, remittances rose 23.24 percent to $4.3 billion in the first four months of 2010/11 fiscal year (July-June), compared with $3.50 billion in the same period last year.

Remittances rose to $1.02 billion in October, compared with  $855.11 million received in October last year.

In the money market, overnight rates ended flat at between 11.50 percent and 11.75 percent, unchanged from Monday's close.