Karachi Stock Exchange ends lower

KARACHI: Karachi Stock Exchange (KSE) benchmark 100-share index ended down 1.37 percent, or 167.48 points, at 12,098.05 on turnover of 64.31 million shares due to a fall in global stocks.

Mounting concerns about a US debt default dragged global stocks down to their lowest level in more than week and drove the dollar to a record low against the safe-haven Swiss franc on Thursday.

In the money market, overnight rates closed at 13.90 percent, unchanged from the previous day's close as there were scheduled outflows of 120 billion rupees ($1.39 billion) against scheduled inflows of 106 billion rupees ($1.22 billion).

Copyright Reuters, 2011