Pakistani stocks try to shake off global chill

KARACHI, Jan 22 (Reuters) - Pakistani shares fell on Tuesday following a decline in global markets, but recovered from early lows on institutional support at lower levels, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index shed 0.65 percent, or 90.53 points, to 13,759.50 on turnover of 196.86 million shares. The KSE-index made an intra-day low at 13,562.16 points.

The free-float KSE-30 share index .KSE30 ended down 0.61 percent to 16,404.83 points.

Weakness in regional markets spilled over to Pakistan, but as prices fell institutional sellers began buying, said Zubair Hussain, head of sales at KASB Securities Ltd.

Shares across the globe sank for a second day on Tuesday as investors dumped assets exposed to the risk of a global economic slowdown.

Dealers said bargain hunters accumulated shares at lower levels on hopes of strong profits for the quarter ended Dec. 31. Results are due out in the coming weeks.

Among the most active companies, NDLF-IFIC Bank (NDIF.KA) rose 0.30 rupees to 22.80, Bosicor Pakistan (BOSI.KA) gained 0.75 rupees to 21.55, while Oil and Gas Development Co Ltd (OGDC.KA) ended 2.25 rupees lower at 118.

(Reporting by Sahar Ahmed)