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

Last Updated: Fri, Mar 15, 2013 12:40 hrs

KARACHI, March 15 (Reuters) - Pakistan's stock market closed lower on Friday, dragged down by sales of Engro Corporation, Muslim Commercial Bank and Pakistan Oilfields Ltd, dealers said.

Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.43 percent, or 75.86 points, lower at 17,664.83 points.

Engro Corporation fell 3.49 percent to 119.06 rupees, while Muslim Commercial Bank Ltd was down 3.05 percent to 189 rupees.

In the currency market, the rupee ended weaker at 98.03/98.09 against the dollar. compared to Thursday's close of 97.86/97.92

Overnight rates in the money market rose to 9 percent from Thursday's close of 7 percent. (Compiled by the Karachi newsroom)

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