| GEO Business|
KSE-100 Index slips 46 points to peg at 9,946
| Updated at: 1807 PST, Wednesday, September 22, 2010|
KARACHI: The stock prices at Karachi Stock Exchange (KSE0 ended lower on Wednesday in dull trade on fears of a rise in the cut-off yields in the treasury bill auction and also a hike in the key policy rate when the monetary policy is announced.
The result of the t-bill auction is due later in the day.
The monetary policy for the subsequent two months is due to be announced on Sept. 29. The central bank raised its key policy rate by 50 basis points to 13 percent in July.
The Karachi Stock Exchange's benchmark 100-share index ended 0.46 percent, or 46.08 points, lower at 9,946.42.
Turnover fell to 50.86 million shares, compared with 88.44million shares traded on Tuesday.
Pakistan's inflation rose to a four-month high in August as the country's devastating floods forced food prices higher. The consumer price index rose a higher-than expected 13.23 percent from a year earlier and it was up 2.5 percent from July.
Earlier, analysts expected the central bank to wait and see until the release of a damages assessment report, due to be released in mid-October, but with inflation higher than expected, there are fears that the central bank may hike the policy rate.