Karachi: Pakistani stocks ended lower yesterday on profit booking by state-owned institutions and dealers said investors were awaiting the outcome of the meetings between International Monetary Fund (IMF) and Pakistani officials.
The Karachi Stock Exchange's benchmark 100-share index .KSE ended 0.60 per cent, or 64.22 points, lower at 10,617.65. Volume was 106.16 million shares compared with 108.16 million shares traded on Tuesday. "There was mostly selling by state-owned institutions who had bought stocks at lower levels in the previous sessions," said Sajid Bhanji, director at brokers Arif Habib.
Dealers said investors were awaiting the outcome of meetings with the IMF, to discuss the possible release of the sixth tranche of an $11 billion (Dh40.3 billion) emergency loan agreed in November 2008.
