KARACHI, March 8 (Reuters) - Pakistan's stock market closed
lower on Friday, dragged down by sectarian and ethnic violence
in commercial capital Karachi, traders said.
After a seven-week bull run, the Karachi Stock Exchange's
(KSE) benchmark 100-share index ended 0.16 percent, or
28.73 points, lower at 17,964.18 points.
Falling share prices for OGDC and MCB pushed the index below
18,000 points, said Samar Iqbal, of Topline Securities.
Engro Corporation closed at its upper cap after
unconfirmed news that they would get gas at a lower rate than
anticipated. said dealer Samar Iqbal at Topline Securities
Engro rose 4.99 percent to 128.27 rupees, while Pakistan
Telecommunication Corporation was down 5 percent to
In the currency market, the rupee ended at
97.70/97.75 against the dollar, stronger than Thursday's close
Overnight rates in the money market fell to 9 percent form
Thursday's close of 9.40 percent.
(Compiled by the Karachi newsroom)