Pakistan stocks end lower, rupee weakens, o/n rate fall

Last Updated: Thu, Aug 29, 2013 12:20 hrs

KARACHI, Aug 29 (Reuters) - Pakistan's main stock exchange closed lower on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.10 percent or 21.60 points to 22,214.73.

Due to Pakistan State Oil Co Ltd's lower-than-expected dividend and speculation that the cement cartel may breakdown, the market remained range-bound.

Although global equity markets breathed a sigh of relief because of an ease-off in Syrian tension, local investor sentiments remained weak, dealers said.

D.G.Khan Cement Co Ltd fell 4.11 percent to 77.65 rupees while Pakistan State Oil Co Ltd was down 3.53 percent to 300.89 rupees.

The rupee ended weaker at 104.35/104.40 against the dollar, compared to Wednesday's close of 103.86/103.93.

Overnight rates in the money market fell to 6.50 percent from Wednesday's close of 7.75 percent. (Compiled by the Karachi newsroom)

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