Business | Markets
Karachi index ends down in dull trade
The central bank is likely to cut its key policy rate
- Reuters
- Published: 00:00 November 24, 2009
Karachi: Pakistani stocks ended down and in low turnover yesterday as investors stayed on the sidelines on the eve of the announcement of monetary policy for the next two months, dealers said.
The Karachi Stock Exchange's KSE benchmark 100-share index ended 0.91 per cent, or 84.4 points, lower at 9,221.96. Volume was 55.73 million shares compared to 113.53 million shares traded on Friday.
"Turnover was extremely thin as investors are waiting for the monetary policy announcement," said Sajid Bhanji, a dealer at brokers' Arif Habib.
The State Bank of Pakistan is due to announce monetary policy for December and January today.
The central bank is likely to cut its key policy rate.
Holidays
Markets close
UAE Stock markets remain closed due to Eid Al Adha holiday on Thursday, November 26 and on Sunday, November 29 and will reopen on Monday, November 30.
They also close during National Day holiday from Wednesday, December 2 and Thursday, December 3, to reopen on Sunday, December 7.
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