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Pakistan stocks lower; rupee weakens, o/n fall
May 15, 2015 / 12:42 PM / 3 years ago

Pakistan stocks lower; rupee weakens, o/n fall

KARACHI, May 15 (Reuters) - Pakistani stocks closed lower on Friday as investors awaited a monetary policy announcement this month and the new budget, to be announced in June.

The Karachi Stock Exchange 100-share index closed 0.19 percent or 64.54 points down at 33,039.19.

Cement stocks dipped amid rumours that South Africa might impose anti-dumping duties on Pakistani exports, said Mohammad Rizwan from Topline Securities.

Byco Petroleum Pakistan was up 1.63 percent to 14.32 rupees, while D.G. Khan Cement Co Ltd was down 1.54 percent to 125.52 rupees.

The rupee ended weaker at 101.82/101.88 against the dollar compared with Thursday’s close of 101.77/101.82.

Overnight rates in the money market fell to 6.00 percent from Thursday’s close of 7.00 percent. (Compiled by the Karachi newsroon)

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