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

Last Updated: Fri, May 24, 2013 12:40 hrs

KARACHI, May 24 (Reuters) - Pakistan stocks closed lower on Friday, with profit-taking seen in some large-cap stocks, dealers said.

The Karachi Stock Exchange's benchmark 100-share index closed 0.28 percent, or 58.88 points, lower at 21,283.77.

Pakistan Petroleum Ltd fell 1.11 percent to 215.30 rupees while Pakistan State Oil Co Ltd was down 1.66 percent at 276.10 rupees.

The rupee ended at 98.26/98.32 against the dollar, stronger than Thursday's close of 98.40/95.45

Overnight rates in the money market rose to 9.50 percent from Thursday's close of 9.40 percent. (Compiled by the Karachi newsroom)

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