KARACHI: Pakistan shares ended lower on Monday, reversing gains from the previous session, hit by falls in global markets and escalating tensions in the Middle East, dealers said.
The benchmark 100-share index at the Karachi Stock Exchange closed down 0.66 percent, or 219.82 points, at 33,009.13.
“The local market was influenced by the trend in international markets rocked by weak manufacturing data from China and growing instability in the Middle East,” said Muhammad Rizwan, head of sales at Topline Securities Pvt Ltd.
Index heavy weights stocks took a hit on fears of foreign selling due to weakness in international markets.
Lucky Cement Ltd. declined 2.2 percent, Oil and Gas Development Co. Ltd. fell 1.8 percent and Fauji Fertilizer Co. Ltd. slipped 1.5 percent.
The rupee ended weaker at 104.85/104.90 against the dollar, compared with the previous close of 104.70/104.77.
Overnight rates in the money market remained flat at 6.50 percent.
Karachi shares end lower; rupee weakens



