Pakistan stocks close lower, rupee strengthens, o/n rates flat

Last Updated: Thu, Mar 07, 2013 12:40 hrs

KARACHI, March 7 (Reuters) - Pakistan's stock market closed lower on Thursday, dragged down by index heavyweight Oil and Gas Development Company Ltd, and Muslim Commercial Bank.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.04 percent, or 7.54 points, lower at 17,992.91 points.

The Oil and Gas Development Company Ltd fell 1.46 percent to 202.55 rupees, while Muslim Commercial Bank was down 1.32 percent to 215.75 rupees.

In the currency market, the rupee ended at 97.95/98.00 against the dollar, stronger than Wednesday's close of 98.10/98.12.

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

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