Pakistan stocks end slightly lower, rupee steady

KARACHI: Pakistan’s main stock exchange closed lower with the benchmark 100-share index of the Karachi Stock Exchange falling 0.04 percent or 9.47 points to 23,222.21.
Ahead of the announcement of the monetary policy, selling pressure was witnessed in cement stocks, textile companies, Pakistan State Oil and Engro Corporation.
Investors speculated an increase in the upcoming policy announcement, dealers said.
Pakistan State Oil Co. Ltd. fell 0.73 percent to 306.50 rupees while D.G. Khan Cement was down 4.99 percent to 76.02 rupees.
The rupee ended steady at 104.75/104.80 against the dollar, compared to Wednesday’s close of 104.75/104.80.
Overnight rates in the money market fell to 6.50 percent from Wednesday’s close of 8.50 percent.