Alert Sign Dear reader, online ads enable us to deliver the journalism you value. Please support us by taking a moment to turn off Adblock on

Alert Sign Dear reader, please upgrade to the latest version of IE to have a better reading experience


Pakistani stocks ease on security concerns; rupee weakens

November 23, 2012

The Karachi Stock Exchange.—Reuters Photo

KARACHI: Pakistani stocks closed lower on Friday, as declining shares of financial service companies and worries over sectarian violence during the holy month of Muharram.

“Cautious investors preferred to book profits amid fear of the law and order situation over the weekend,” said Samar Iqbal, an equity dealer with Topline Securities.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.08 per cent, or 13.41 points, lower at 16,237.59.

Jahangir Sidiqui dropped 0.38 per cent, or 0.06 rupees, to 15.58 per share, while Azgard Nine eased 0.35 per cent, or 0.03 rupees, to 8.65 per share.

On the positive side, Fauji Cement rose 0.43 per cent, or 0.03 rupees, to 7.00 per share, while Maple Leaf Cement rose 1.51 per cent, or 0.23 rupees, to 15.47 per share.

In the currency market, the Pakistani rupee weakened at 96.01/96.07 to the dollar, compared to Thursday’s close of 95.93/95.98