Karachi- Pakistan's main stock exchange closed lower on Friday, with the benchmark 100-share index of the Karachi Stock Exchange fell 0.06 percent, or 16.48 points, to 28,494.54.

Market witnessed a ranged bound session with low volumes as investors preferred to stay sidelines ahead of a political party's rally. In spite of Government released some amount to Pakistan State Oil on account of circular debt, stock failed to perform due to weak sentiments, said dealer Samar Iqbal at Topline Securities. JS Bank Ltd rose 3.95 percent to 6.31 rupees and Pakistan State Oil Co Ltd was down 0.62 percent to 387.25 rupees. The rupee ended at 98.50/98.55 against the dollar compared to Thursday's close of 98.52/98.57. Overnight rates in the money market rose to 10.00 percent from Thursday'close of 7.50 percent.