KARACHI: Pakistani stocks closed lower on Monday as political uncertainty caused investors to trim their positions at local bourses. Volumes also remained on the lower side.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.88 per cent, or 146.19 points, lower at 16,502.65.

In the currency market, the Pakistani rupee ended nearly steady at 97.42/97.48 against the dollar, compared to Friday’s close of 97.42/97.47.

Financial Services firm Jahangir Siddiqui fell 3.52 per cent to 14.80 per share and Byco Petroleum was down 1.6 per cent to 13.57 per share.

Maple Leaf Cement was up 2.56 per cent to 14.85 per share while Askari Bank rose 2.1 per cent to 18 per share.

Overnight rates in the money market remained flat at 9.25 per cent.