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

Last Updated: Mon, Feb 25, 2013 13:00 hrs

KARACHI, Feb 25 (Reuters) - Pakistan's stock market closed lower on Monday after companies booked profits, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.30 percent, or 53.77 points, lower at 18,020.50.

"Profit taking was seen from selected counters above the key 18,000 points level," said Samar Iqbal, a dealer at Topline Securities.

Engro Corporation rose 5.0 percent to 113.83 rupees as news that the company had reached an agreement for gas supplies from the state-run Oil and Gas Development firm lifted the share price, dealers said.

D.G.Khan Cement fell 1.12 percent to 62.00 rupees and

In the currency market, the rupee ended weaker at 98.15/98.20 against the dollar, compared to Friday's close of 98.06/98.12.

Overnight rates in the money market fell to 8.75 percent from Thursday close of 9 percent. (Compiled by the Karachi newsroom)

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