KARACHI: Pakistan’s main stock exchange closed lower on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange falling 1.28 per cent or 287.38 points to 22,236.33.
The local bourse fell by another 1 per cent amid a decline in international equity and currency markets due to the ongoing Syrian crisis.
Index heavy-weights Muslim Commercial Bank Ltd and Pakistan State Oil Co Ltd contributed heavily to the decline, dealers said.
Muslim Commercial Bank Ltd fell 2.83 per cent to 266.99 rupees while Pakistan State Oil Co Ltd was down 4.41 per cent to 309 rupees.
The rupee ended weaker at 103.86/103.93 against the dollar, compared to Tuesday’s close of 103.74/103.79.
Overnight rates in the money market fell to 7.75 per cent from Tuesday’s close of 8 per cent.