Pakistan stocks end lower, rupee weakens

KARACHI: Pakistan's stock exchange closed lower on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.72 percent or 166.17 points
at 22,994.72.

Selling in oil and fertiliser stocks brought the index below the 23,000 points mark.

Engro Corp closed 5 percent lower due to concerns about gas supply while renewed buying interest was seen in Hub Power Company Ltd, dealers said.

Engro Corporation Ltd fell 5 percent to 167.78 rupees while Hub Power Company Ltd was up 1.16 percent to 67.25 rupees.

In the currency market, the rupee ended weaker at 100.42/100.49 against the dollar, compared with Tuesday's close of 100.29/100.34. Overnight rates in the money market close at 6.50 percent.