KARACHI, July 11 (Reuters) - Pakistan's stock exchange
closed lower on Thursday, with the benchmark 100-share index of
the Karachi Stock Exchange falling 1.03 percent or 237.81 points
After three consecutive days of buying investors appeared to
prefer to offload as the index breached through the 23,000
psychologically important level.
All index heavy weight stocks like Muslim Commercial Bank,
Oil and Gas Development Co Ltd and Pakistan State Oil Co Ltd saw
profit taking, said Samar Iqbal at Topline Securities.
Pakistan State Oil Co Ltd fell 2.35 percent to
338.65 rupees while Muslim Commercial Bank was down
2.14 percent to 257.12 rupees, he added.
The rupee closed at 100.01/100.06 on Wednesday.
Overnight rates in the money market closed at 9 percent on
Wednesday. Thursday was a bank holiday
(Compiled by the Karachi newsroom)