ISLAMABAD: Pakistan's main stock market fell on Monday, with volume hitting a six-month low on the first business day of the Muslim fasting month of Ramazan, dealers said.

The Karachi Stock Exchange benchmark 100-share index dropped 37.23 points, or 0.3 per cent, to close at 14,527.25 on volume of 19 million shares.

“Volume fell to a 6-month low on the first day of Ramazan. Investors also remained on the sidelines due to a bearish spell in global equity markets,” said Samar Iqbal, a dealer at Topline Securities.

Monday was a bank holiday in Pakistan.

The rupee closed at 94.50/55 to the dollar on Friday.

Overnight rates in the money market closed at 11.90 per cent on Friday.