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Pakistani stocks end lower; rupee gains; o/n rates fall
September 17, 2012 / 11:43 AM / 5 years ago

Pakistani stocks end lower; rupee gains; o/n rates fall

KARACHI, Sept 17 (Reuters) - Pakistani stocks ended lower on Monday as foreign investors remained cautious as more protests erupted in the country over a video that mocked the Prophet Mohammad.

In the latest one, Pakistani police fired in the air to disperse a crowd headed towards the U.S. consulate in the city of Karachi.

A senior police official said 30 students were arrested at the demonstration organised by a religious party.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.33 percent, or 50.92 points, lower at 15,398.68, on total volume of 97.9 million shares.

“There is some local pressure due to clashes in Pakistan. So, investors are booking profits,” said Ahsan Mehanti at Arif Habib Corp.

In the currency market, the Pakistani rupee ended slightly stronger at 94.52/94.57 to the dollar, compared to Friday’s close of 94.56/94.61.

Overnight rates in the money market ended at 7.60 percent compared to Friday’s close 8.50 percent. (Reporting By Aisha Chowdhry)

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