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PSX closes steady; rupee weaker

KARACHI: Pakistan stocks closed steady on Thursday as the 2015/16 financial year draws to a close and ahead of a long holiday next week for Eid, dealers said.

The benchmark 100-share index of the Pakistan Stock Exchange closed 0.01 percent, or 3.03 points, lower at 37,783.54.

“Market was lacklustre as investors remained on the sidelines because of the upcoming Eid holidays and lack of triggers,” said Muhammad Rizwan, head of sales at Topline Securities Pvt Ltd.

Out of the 319 active stocks, 140 closed in red, 167 closed in green and the remaining remained unchanged, Rizwan added.

Cherry picking was seen in Pakistan State Oil Co Ltd , which gained 0.3 percent. Lucky Cement Ltd gained 1.66 percent, while D G Khan Cement Co Ltd rose 0.16 percent.

The rupee ended at 104.82/104.84 per dollar, compared with Wednesday’s close of 104.70/104.73.

Overnight rates in the money market rose to 6.25 percent from Wednesday’s close of 4.25 percent. –Reuters

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