Pakistani stocks, o/n rates end lower; rupee weakens

KARACHI, Nov 12 (Reuters) - Pakistani stocks ended lower on Friday following a suicide car bomb attack the previous day in the country's commercial hub, dealers said. At least 15 people were killed and 100 injured in a suspected Taliban suicide car bomb attack on Thursday at a security compound in Karachi where militants were held. The Karachi Stock Exchange's benchmark 100-share index ended 0.29 percent, or 31.22 points, lower at 10,874.02. Volume fell to 97.52 million shares, compared with 125.22 million traded on Thursday. "The blast weighed on the market. However, the prospect of a potential approval of a leveraged product got some local institutions to step in to support the market towards the end," said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. The approval of margin buying is expected this month. In the currency market, the rupee ended weaker at 85.63/70 to the dollar, compared with Thursday's close of 85.37/42 due to higher imports payments, especially of oil, dealers said. In the money market, overnight rates fell to end between 11.5 percent and 12 percent, compared with Thursday's close of 13 percent despite scheduled outflows of 9.3 billion rupees as dealers said there was increased liquidity in the interbank market. Dealers said they were waiting for the treasury bill auction which is scheduled for Nov. 15, instead of Nov. 17 due to holidays. (Reporting by Sahar Ahmed; Editing by Chris Allbritton) (For more Reuters coverage of Pakistan, see: (If you have a query or comment about this story, send an e-mail to SA Keywords: FINANCIAL PAKISTAN/ (E-mail:; Reuters Messaging:; Karachi newsroom: +92-21 3568 5192) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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