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Pakistani stocks end slightly lower; rupee, o/n rates up

May 25, 2012


The Karachi Stock Exchange.—File Photo

ISLAMABAD: Pakistan’s Karachi Stock Exchange (KSE) closed slightly lower on Friday, with most investors taking no risks on the week’s last day of trading, dealers said.

The KSE’s benchmark 100-share index ended 0.09 per cent, or 11.86 points, lower at 13,925.06 points on volume of 120.4 million shares, compared to Thursday’s close of 13,936.92.

“The market failed to close above the 14,000-point level as most of the investors remained on the sidelines ahead of the weekend,” said Samar Iqbal, a dealer at Topline Securities.

The Pakistani rupee ended stronger at 91.70/75 to the dollar, compared to 91.90/95 on Thursday.

Overnight rates in the money market ended higher at 11 per cent, compared to Thursday’s close of 9 per cent, because of decreased liquidity in the market.