Karachi index slips slightly on rate fears
National Bank of Pakistan fell 2.4 per cent to Rs92.16
Karachi: Pakistan's benchmark KSE Index of 100 shares fell 37.58, or 0.4 per cent, to close at 9,963.35.
Lenders declined on speculation the central bank won't cut its key lending rate at the scheduled March 27 meeting, said Abdul Shakur, head of research at Invest Capital & Securities, in Karachi.
National Bank of Pakistan, the country's biggest lender by assets, fell 2.4 per cent to Rs92.16.
MCB Bank, the biggest lender by market value, declined 1.1 per cent to Rs201.60. United Bank, Pakistan's third-largest by assets, declined 3.9 per cent to Rs57.13.
Engro Corp. , Pakistan's second-biggest urea maker, advanced 1.4 per cent to Rs188.82. Fauji Fertiliser Bin Qasim, Pakistan's only maker of di-ammonium phosphate, rose 0.4 per cent to Rs31.45.
