KSE 100-share index ends lower

KARACHI: The Karachi Stock Exchange's (KSE) benchmark100-share index ended 0.25 percent, or 42.68 points, lower at 16,865.34.

Stocks closed lower on Friday amid concern over the falling rupee.

Recent cuts in policy rate were in line with market expectations but failed to overcome investors' concerns over the falling rupee.

Stocks that ended positively included TRG Pakistan, which rose 12.33 percent, or 0.62 rupees, to 5.65 per share and Dewan Cement, which was up 5.89 percent, or 0.29 rupees, to 5.21 per share.

Stocks that fell included Byco Petroleum, down 2.19 percent to 12.07 per share, and Fauji Cement, which fell 0.62 percent to 6.40 per share.

In the currency market, the rupee weakened, closing at 97.49/97.54 against the dollar, compared to Thursday's close of 97.36/97.39.

Overnight rates in the money market remained flat at 9.40percent. (REUTERS)