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Pakistan stocks end lower; rupee steady; o/n rates flat

Source : REUTERS
Last Updated: Thu, Nov 22, 2012 12:50 hrs

KARACHI, Nov 22 (Reuters) - Pakistani stocks closed lower on Thursday, with investors remaining cautious after sectarian attacks.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.04 percent, or 5.97 points, lower at 16,251.00.

Pakistani Shi'ites, targeted in three explosions which killed 16 people on Wednesday, are receiving death threat text messages on cellphones ahead of a key event in their religious calendar that has been tainted by violence in the past.

Hardline Sunni militant groups are expected to strike again this weekend, the climax of the Shi'ite mourning month of Muharram. Radical Sunni groups have staged high-profile suicide bombings against processions on that occasion before.

Karachi Electric fell 1.46 percent, or 0.09 rupees, to 6.07 per share, while Jahangir Sidiqui dropped 3.66 percent, or 0.59 rupees, to 15.51 per share.

Fauji Cement rose 4.48 percent, or 0.30 rupees, to 7.00 per share and Maple Leaf Cement rose 7.02 percent, or 1.00 rupee, to 15.25 per share.

In the currency market, the Pakistani rupee ended nearly steady at 95.93/95.98 to the dollar, compared to Wednesday's close of 95,95/95.97

Overnight rates in the money market remained flat at 10 percent. (Compiled by the Karachi newsroom)



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