Pakistani stocks end lower, rupee weakens, o/n rate flat
KARACHI: Pakistan's main stock exchange closed lower on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange falling 1.31 percent or 300.95 points to 22,714.32.
The local bourse continued its downward trend amid a fall in regional equity markets and the fear of a hike in interest rates in the upcoming Monetary Policy.
Disappointing results from National Bank of Pakistan and Engro Corporation Ltd also added fuel to fire, dealers said.
National Bank of Pakistan fell 4.98 percent to 51.47 rupees while Engro Corporation Ltd was down 4.56 percent at 137.05 rupees.
The rupee ended weaker at 103.53/103.56 against the dollar, compared to Wednesday's close of 103.42/103.48.
Overnight rates in the money market remained flat at 8.50 percent.
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