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Pakistani stocks close lower, rupee steady

March 04, 2013

A stockbroker at the Karachi Stock Exchange.—File Photo

KARACHI: Pakistan’s stock market closed lower on Monday, dragged down by sectarian violence in commercial capital Karachi, traders said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.29 per cent, or 52.06 points, lower at 18,133.13 points.

Some profit taking also weighed on the market, and a decline in international crude oil prices pushed down oil and gas exploration company shares.

Oil and Gas Development Company Ltd fell 0.61 per cent to 206 rupees, while Lotte Pak rose 6.22 per cent to 7.69 rupees.

In the currency market, the rupee was almost steady at 98.13/98.18 against the dollar, compared to Friday's close of 98.15/98.20.

Overnight rates in the money market rose to 9.25 per cent from Friday's close of 9 percent.