Karachi: Pakistani stocks fell 1.34 per cent to a more than a one-month low in thin trade as investors worried about the economic costs of devastating floods which the government said would hurt growth.
The Karachi Stock Exchange benchmark 100-share index ended 1.34 per cent, or 133.88 points, lower at 9,892.32 on turnover of 94.2 million shares.
"There was continued profit-taking seen on the back of flood-related concerns," said Samar Iqbal, a dealer at Topline Securities Ltd.
The floods meant the country would miss this year's 4.5 per cent GDP growth target though it was not clear by how much, a Finance Ministry official said.
Growth was 4.1 per cent in the last fiscal year.
The IMF said on Monday the floods would cause major economic harm as donor and investor concerns grew over the disaster's impact on an already fragile economy.
