InfoAnda - Pakistani stocks end lower; rupee firms

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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 Singapore Asia Pacific World Pakistani stocks end lower; rupee firms Reuters - Wednesday, November 11 Send IM Story Print KARACHI, Nov 10 - Pakistani stocks ended nearly 2 percent lower on Tuesday in very low turnover, as security worries prompted by militant responses to an army offensive drove shares down for a third week, dealers said. The Karachi Stock Exchange's <.KSE> benchmark 100-share index ended 1.95 percent, or 174.08 points, lower at 8,762.40 on turnover of 58.8 million shares. "There was barely any interest as there is a lot of uncertainty regarding security and the political scenario," said Asad Iqbal, managing director at Ismail Iqbal Securities Ltd. The KSE has shed 6.9 percent since Oct. 19, the first trading session after the military launched an offensive targeting militants in their South Waziristan stronghold, along the Afghan border. Many investors have stayed sidelined since Taliban militants intensified attacks in cities and towns in response to the army campaign. The Pakistani Taliban on Tuesday vowed a protracted guerrilla war against the army. [ID:nSP6339] Dealers said a New Yorker magazine report that Pakistan and the United States were negotiating a deal to allow specially trained U.S. units to boost security for the Pakistani nuclear arsenal had caused some uncertainty. [ID:nISL479601] The KSE-100 index is up 49 percent this year after losing 58.33 percent last year. In the currency market, the rupee ended firmer at 83.25/35 to the dollar compared with Saturday's close of 83.53/60. The rupee has weakened 5 percent this year after losing 22.12 percent last year. Dealers expect pressure from importers will further weaken it. (For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan) Recommend Send IM Story Print Related Articles FOREX-Dollar off 15-month low as market pauses for breath Reuters - 2 hours 39 minutes ago Irishman wins euro46,000 after island home disappears AP - 2 hours 46 minutes ago Settlement reached to clean Idaho superfund site AP - 2 hours 49 minutes ago Fluor shares fall after weaker 3Q earnings report AP - 2 hours 52 minutes ago Tw telecom shares jump after JPMorgan upgrade AP - 2 hours 56 minutes ago News Search Top Stories Emerging markets to spearhead recovery: HSBC British bank Lloyds says to cut 5,000 jobs Maclaren buggies recalled in US over 'lost fingers' Barclays says profits slump as bad debts mount Google buys mobile ad firm in 750-mln-dollar deal More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Britney 'upset' over Aussie lip-synching row: promoter Kraft Foods launches hostile Cadbury bid Google buys mobile ad firm in 750-mln-dollar deal Maclaren buggies recalled in US over 'lost fingers' Women deprived of health care at key times in life: WHO More Most Viewed » Somali centenarian weds 17-year-old Mobile phone giant Nokia sues Apple over patents Fibre may keep asthma, diabetes at bay, study finds 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 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 Asia Entertainment Photos Copyright © 2009 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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