Pakistan stocks end steady, rupee steady, o/n rate rise – RTRS

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KARACHI, Aug 23 (Reuters) – Pakistan’s main stock exchange closed steady on Friday, with the benchmark 100-share index of the Karachi Stock Exchange remaining steady 0 percent or 0.36 points to 22,714.68.

The local bourse got some support amid an increase in regional equity markets but sentiments remained weak due to uncertainty over the date for the monetary policy statement, which has not been announced as yet, dealers said. National Bank of Pakistan NBPK.KA fell 0.43 percent to 51.25 rupees while Pakistan State Oil Co Ltd PSO.KA was down 0.47 percent at 333.50 rupees.

The rupee PKR= ended steady at 103.51/103.56 against the dollar, compared to Thursday’s close of 103.53/103.56.

Overnight rates in the money market rose to 8.75 percent from Thursday’s close of 8.50 percent.

Sanie Khan

Sanie Khan holds a deep knowledge of the financial markets in Pakistan. Based in Karachi, he has over 20 years of hands-on management experience in financial technologies and managing operations in the financial sector. He was the General Manager at the Pakistan Stock Exchange (PSX) for 17 years. He along-with senior members of Exchange

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