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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Paksitani stocks, o/n rates end lower; rupee firms Reuters - Thursday, December 2 Send IM Story Print KARACHI, Dec 1 - Pakistani stocks ended lower on Wednesday as investors booked profits after the market closed near a 29-month high the previous day, dealers said. The Karachi Stock Exchange's benchmark 100-share index <.KSE> ended 0.12 percent, or 12.95 points, lower at 11,221.81. Turnover was 157.97 million shares, compared to 165.17 million shares traded on Tuesday. "Investors opted to book gains and there were also some concerns about the fiscal deficit," said Asad Iqbal, chief investment officer at Faysal Asset Management Ltd. Pakistan's budget deficit for the first three months of the 2010/11 fiscal year was 1.6 percent of gross domestic product , the Finance Ministry said on its Website on Wednesday. [ID:nSGE6B009K] The widening fiscal deficit was a warning that Pakistan would likely overshoot the deficit target of 4.7 percent by the end of the fiscal year in June, analysts said. They are forecasting a budget deficit of at least 6 percent of GDP. In the currency market, the rupee <PKR=> firmed against the dollar to 85.64/69, compared with Tuesday's close of 85.70/77 amid lack of import payments. However dealers expect some pressure on the local unit because of rising global oil prices. In the money market, overnight rates ended at 11.50 percent, compared with Tuesday's close between 13 percent and 13.50 percent, and dealers said there were net inflows worth 25 billion rupees scheduled for Thursday. (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) Recommend Send IM Story Print Related Articles China needs steady raw materials supply: Minmetals Reuters - Thursday, December 2 Mastek unit buys assets of US firm SEG Reuters - Thursday, December 2 Punjab National Bank ups rates on term deposits Reuters - Thursday, December 2 CASH/ASIA Reuters - Thursday, December 2 US-BUSINESS Summary Reuters - Thursday, December 2 News Search Top Stories Bailout chief says EU serious about protecting euro Euro recovers -- but fears of Portugal bailout Complacency fuels new AIDS surge in West: UN Eurozone debt crisis deepens Finger length predicts prostate cancer risk: study More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Finger length predicts prostate cancer risk: study Eurozone debt crisis deepens 'Sarkozy the American' mulled troops for Iraq: WikiLeaks Euro plunges to two-month low under 1.30 dollars Britain's Prince William happy to wait for crown More Most Viewed » 'Naked' airport scanners may be 'dangerous' Pilgrims stone 'devil' as Muslims celebrate Eid World leaders scramble for funds to save the tiger US, S.Korea plan war games after N.Korean attack Obama gets 12 stitches after 'elbow in the lip' More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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