InfoAnda - Pakistan stocks ease on profit taking; rupee down

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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 Pakistan stocks ease on profit taking; rupee down Reuters - Wednesday, January 19 Send IM Story Print KARACHI, Jan 18 - Pakistani stocks fell on Tuesday as investors booked profits after the market touched a 31-month high the previous day, dealers said. The Karachi Stock Exchange's benchmark 100-share index <.KSE> ended 0.19 percent, or 23.78 points, lower at 12,658.16 on turnover of 270.8 million shares. "Investors booked profits in an overbought market, but losses were restricted as there was buying in the fertiliser sector ahead of the result season," said Ahfaz Mustafa, managing director at Ismail Iqbal Securities Ltd. Volume leader Fauji Bin Qasim <JORD.KA> ended 2.25 percent higher at 43.10 rupees ahead of its results for the quarter ending Dec. 31 due to be announced on Jan. 25 In the currency market, the rupee <PKR=> ended at 85.85/90 to the dollar, weaker than Monday's close of 85.50/55 because of higher import payments, especially of oil, dealers said. Brent oil edged higher on Tuesday after OPEC stuck to its view there was ample supply on the market, while the International Energy Agency said economic recovery would spur a gradual rise in demand. Brent for March <LCOc1> added 42 cents to $97.85 a barrel by 1112 GMT. The front-month Brent contract on Friday touched $99.20, the highest price since October 2008. U.S. crude <CLc1> fell 4 cents to $91.50. In the money market, overnight rates fell to between 12 percent and 12.50 percent, compared with Monday's close of between 13.00 percent and 13.50 percent amid increased liquidity in the interbank market. (For more Reuters coverage of Pakistan, see: http://www.reuters.com/places/pakistan) Recommend Send IM Story Print Related Articles RPT-Australia insured losses could top $6 bln-Barclays Reuters - 21 minutes ago RPT-ING's Australian healthcare fund left with one suitor Reuters - 22 minutes ago Citigroup trading drop shows revival obstacles Reuters - 23 minutes ago RPT-Japan thermal coal contract may reach $145/T in 2011- Macquarie Reuters - 24 minutes ago RPT-Queensland grants 20 mines permission to pump out floodwaters Reuters - 26 minutes ago News Search Top Stories Rape laws blurry for Israelis: researcher Lebanon tribunal charges under wraps as tensions rise Apple share price drops on Jobs health fears Police take Duvalier from Haiti hotel Citigroup posts first year of profit since crisis More Top Stories » ADVERTISEMENT Most Popular Most Viewed Apple's Steve Jobs taking new medical leave Smart US dog learns more than 1,000 words Ashes of Paul the octopus on show in Germany Smoking causes gene damage in minutes Russian women 'dress like strippers': church spokesman More Most Viewed » 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 © 2011 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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