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Pakistani stocks close lower, rupee steady

March 14, 2013

The Karachi Stock Exchange.—File photo by Reuters

KARACHI: Pakistan’s stock market closed lower on Thursday, with a lack of triggers keeping traders at bay, dealers said.

The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.11 per cent, or 19.75 points, lower at 17,740.69 points.

“The market has been volatile for some time. The lack of triggers kept investors at bay today,” said Samar Iqbal of Topline Securities.

Foods and Fertilizer Engro Corporation fell 1.04 per cent to 123.45 rupees, while Telecard Ltd was up 7.05 per cent to 6.38 rupees.

In the currency market, the rupee was steady at 97.86/97.92 against the dollar.

Overnight rates in the money market remained flat at 7 per cent.