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Stocks marginally down; rupee weakens

June 29, 2012


The Karachi Stock Exchange.—File Photo

ISLAMABAD: Pakistan’s main stock market closed marginally down on Friday, on investor caution ahead of the end of the country’s financial year on June 30.

The Karachi Stock Exchange benchmark 100-share index closed slightly down 0.03 per cent, or 4.01 points, at 13,801.41 points on volume of 57.08 million shares.

“Mixed activity was seen on the last trading day of the fiscal year,” said Samar Iqbal, a dealer at Topline Securities.

In the currency market, the rupee weakened slightly to close at 94.49/55 to the dollar compared to 94.39/45 on Thursday.

Overnight rates in the money market ended up at 11.90 per cent from 9 per cent on Thursday amid decreased liquidity in the interbank market.