Pakistani stocks fall in the wake of Karachi terror

KARACHI: Pakistan's stock market closed lower on Monday, dragged down by violence in commercial capital Karachi, where at least 48 people died in a bomb blast on Sunday, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.29 percent, or 52.06 points, lower at 18,133.13 points.

Some profit taking also weighed on the market, and a decline
in international crude oil prices pushed down oil and gas exploration company shares.

Oil and Gas Development Company Ltd fell 0.61 percent to 206 rupees, while Lotte Pak rose 6.22 percent to 7.69 rupees.

In the currency market, the rupee was almost steady at 98.13/98.18 against the dollar, compared to Friday's close of 98.15/98.20.

Overnight rates in the money market rose to 9.25 percent from Friday's close of 9 percent.