Karachi: Pakistani stocks ended lower Monday on worries that the economic cost following the devastation caused by the floods may be higher than expected, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.49 per cent, or 48.25 points, lower at 9,812.10 on turnover of 50.83 million shares.
"Initially it was estimated that economic growth will be one per cent lower than target but now there are talks that it could end up at 3 per cent," said Ahfaz Mustafa, managing director at Esmail Eqbal Securities.
In the currency market, the rupee ended firmer at 85.58/63 to the dollar, compared with Friday's close of 85.62/67 amid lack of import payments.
The rupee fell to a record low of 85.80 on July 12 amid high demand for dollars from importers as well as on debt repayments.
