KARACHI: Pakistani stocks ended lower on Tuesday with cement and oil stocks staying depressed all through the day, traders said.

The benchmark 100-share index of the Karachi Stock Exchange ended down 0.58 percent at 33,191.46.

“Cherry-picking was witnessed in the cement sector with only Lucky Cement closing slightly positively while the sector overall remained depressed,” said Ahmed Saeed Khan, vice president at JS Global Capital.

Lucky Cement Ltd. was up 0.33 percent.

The rupee was stronger at 104.28/104.33 against the dollar, compared with Monday’s close of 104.35/104.40.

Overnight rates in the money market rose to 6.50 percent from Monday’s close of 6.00 percent.

On Tuesday, Prime Minister Nawaz Sharif said Pakistani farmers will receive $3.2 billion in grants, subsidies and loan advances from the government. He also retracted the recent urea price hike, which led the fertilizer sector to rebound slightly.

The major beneficiary of this was Fauji Fertilizer Bin Qasim Ltd, which ended up 2.40 percent.