Shares prices down, as Index slips 53 points at KSE

KARACHI: Pakistan’s main stock exchange closed lower on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.19 percent, or 53.17 points, to 28,330.03.

The market remained range bound today. Investor interest was driven down due to the political uncertainty in the country.

Investors are apprehensive in the market as uncertainty prevails about the unfolding political situation of the country and protest set to begin from 11th of May, said a dealer.

Faysal Bank Ltd rose 3.9 percent to 16.52 rupees and Pakistan State Oil Co Ltd was down 1.4 percent to 380.50 rupees.

The rupee ended higher at 98.22/98.27 against the dollar compared to Tuesday´s close of 98.63/98.68.Overnight rates in the money market remained flat at 7.50
percent.