Wires

Pakistani stocks end lower; rupee strengthens; o/n rates fall

Share

KARACHI, Oct 12 (Reuters) - Pakistani stocks closed lower onThursday as investors engaged in a pre-weekend sell-off afterthe market traded at an all time-high.

The Karachi Stock Exchange (KSE) benchmark 100-share indexended 0.93 percent, or 146.94 points, lower at 15,698.36 ontotal volume of 112.15 million shares.

"The market flirted with its all-time highs. Then, there wasselling from institutional investors, which brought alongselling from retailers," said Suleman Maniya at Al-MeezanInvestments.

In the currency market, the Pakistani rupee endedslightly stronger at 95.48/95.68 compared to Thursday's close of95.50/95.70 to the dollar.

Overnight rates in the money market closed at 7.00 percentcompared to Thursday's 9.90 percent.

(Reporting by Aisha Chowdhry)

((Katharine.Houreld@thomsonreuters.com)(+ 92 307 8888153)(Reuters Messaging:katharine.houreld.thomsonreuters.com@reuters.net))

Keywords: FINANCIAL PAKISTAN/