KSE loses 146 points over political uncertainty

KARACHI: Stocks closed lower on Monday as political uncertainty caused investors to trim their positions at local bourses. Volumes also remained on the lower side.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.88 percent, or 146.19 points, lower at 16,502.65.

In the currency market, the Pakistani rupee ended nearly steady at 97.42/97.48 against the dollar, compared to Friday's close of 97.42/97.47.

Financial Services firm Jahangir Siddiqui fell 3.52 percent to 14.80 per share and Byco Petroleum was down 1.6 percent to 13.57 per share.

Maple Leaf Cement was up 2.56 percent to 14.85 per share while Askari Bank rose 2.1 percent to 18 pershare.

Overnight rates in the money market remained flat at 9.25 percent.