KARACHI: Pakistan’s stock market closed lower on Friday amid outflow of foreign funds, said dealers.

The benchmark 100-share index of the Karachi Stock Exchange closed down 0.49 percent, or 163.41 points, at 33,048.51.

“Foreign funds outflow was seen in the market and investors trimmed their positions, resulting in the market closing lower,” said Mohammad Rizwan, head of sales at Topline Securities Private Ltd.

Profit-taking was seen in cement and fertilizer stocks with companies such as D G Khan Cement Company Ltd, Maple Leaf Cement Factory Ltd. and Fatima Fertilizer Company Ltd. falling by between 0.54 percent and nearly 1 percent.

Total volume decreased by 21 percent to 189 million shares while traded value was up 11 percent at 7.8 billion rupees ($74 million).

The rupee ended weaker at 104.18/104.28 against the dollar, compared with Thursday’s close of 103.90/104.00. Overnight rates in the money market fell to 6.25 percent from Thursday’s close of 6.50 percent.