Pakistan stocks end flat on monetary policy tightening fears

KARACHI: Speculations that State Bank of Pakistan (SBP) will tighten the monetary policy in its upcoming meeting, the Karachi Stock Exchange (KSE) ended flat here on Thursday.

The benchmark KSE 100-Index shed 0.04 percent or 9.47 points to close at 23,222.21 mark.

Selling pressure was witnessed in cement stocks, textile companies, Pakistan State Oil and Engro Corporation ahead of the State Bank of Pakistan (SBP) monetary policy announcement.

Pakistan State Oil Co Ltd (PSO) went down 0.73 percent to close at Rs306.50, while D G Khan Cement Ltd lost 4.99 percent to end at Rs76.02.