Karachi stocks Exchange shed another 100 points

Karachi stocks Exchange shed another 100 points

KARACHI: The benchmark KSE-100-share index of Pakistan’s Karachi Stock Exchange closed 0.51 percent lower on Wednesday.

The index fell 107.77 points to 21,002.57.

Muslim Commercial Bank Ltd fell 5 percent to 243.27 rupees, while Pakistan State Oil Co Ltd was down 2.32 percent to 311.60 rupees.

The rupee ended almost steady at 98.86/98.91 against the dollar, compared to Tuesday’s close of 98.87/98.93.

Overnight rates in the money market rose to 9 percent from Tuesday’s close of 8.75 percent.