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Pakistani stocks end lower; rupee strengthens
 
 
 
Pakistani stocks end lower; rupee strengthens

Pakistan's main stock exchange closed lowertoday, with the benchmark 100-share index of the Karachi Stock Exchange falling 1.40 percent, or 374.08 points to 26,391.41.


Local bourse fell further amid news of further foreign selling in large cap stocks like Oil and Gas Development Co Ltd and Pakistan State Oil Co Ltd. Start of future roll over week also dented the sentiment, said dealer Samar Iqbal at Topline Securities. Oil and Gas Development Co Ltd fell 2.14 percent to 246.50 rupees while Pakistan State Oil Co Ltd was down 2.1 percent to 420.15 rupees. The rupee ended higher at 97.75/97.80 against the dollar compared to Friday's close of 97.85/97.90. Overnight rates in the money market rose to 8.75 percent from Friday's close of 8.25 percent.


 
 
 
 
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