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The Karachi Exchange.—File Photo
KARACHI: Pakistani stocks ended more than 1 per cent lower on Friday as investors booked profits after the market rallied to its highest close in nearly four years the previous day, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index fell 1.14 per cent, or 153.95 points, to end at 13,297.12 points, a day after it reached its highest close since May 22, 2008.
Volume rose to 426.21 million shares, compared with 336.91 million on Thursday.
“The market made its highest close in almost four years so a bit of a technical correction was due, which we witnessed in the market today,” said Shuja Rizvi, a dealer at Al-Hoqqani Securities.
