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Pakistan stocks close lower, rupee steady, o/n rates rise

Source : REUTERS
Last Updated: Tue, Mar 05, 2013 08:02 hrs

KARACHI, March 4 (Reuters) - Pakistan's stock market closed lower on Monday, dragged down by violence in commercial capital Karachi, where a suspected suicide bomber attacked Shi'ite Muslims on Sunday, killing 45 people, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.29 percent, or 52.06 points, lower at 18,133.13 points.

Some profit taking also weighed on the market, and a decline in international crude oil prices pushed down oil and gas exploration company shares.

Oil and Gas Development Company Ltd fell 0.61 percent to 206 rupees, while Lotte Pak rose 6.22 percent to 7.69 rupees.

In the currency market, the rupee was almost steady at 98.13/98.18 against the dollar, compared to Friday's close of 98.15/98.20.

Overnight rates in the money market rose to 9.25 percent from Friday's close of 9 percent. (Compiled by the Karachi newsroom)




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