Karachi: Pakistani stocks ended lower Wedneday after closing on a 26-and-a-half-month high in the last session after investors opted to book profits at higher levels, but dealers said the market looked steady near-term.
The Karachi Stock Exchange's benchmark 100-share index ended 0.46 per cent, or 50.34 points, lower at 10,941.94.
On Monday, the index recorded its highest closing since July 2008. The market was closed on Tuesday.
Volume rose to 221.29 million shares, compared with 220.47 million traded on Monday. During the day, the index hit a high of 11,047.21.
In the currency market, the rupee ended weaker at 85.46/51 to the dollar, compared with Monday's close of 85.30/40.
"There was a higher demand for the dollar today as the market was closed yesterday," said a dealer at a foreign bank.
