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Pakistan stocks end lower, rupee weakens, o/n rate flat
October 7, 2013 / 11:54 AM / 4 years ago

Pakistan stocks end lower, rupee weakens, o/n rate flat

KARACHI, Pakistan Oct 7 (Reuters) - Pakistan’s main stock exchange closed lower on Monday, with the benchmark 100-share index of the Karachi Stock Exchange falling 1.00 percent or 221.11 points to 21,864.85.

Selling in banking stocks showed a decrease due to the State Bank of Pakistan increasing the minimum Profit and Loss Sharing Saving Account (PLS) rate and some profit taking, dealers said.

Bank of Punjab fell 2.00 percent to 10.77 rupees while National Bank of Pakistan was down 0.35 percent to 48.57 rupees.

The rupee ended weaker at 106.17/106.22 against the dollar, compared to Friday’s close of 105.12/105.18.

Overnight rates in the money market remained flat at 9.40 percent. (Compiled by the Karachi newsroom)

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