Pakistani stock market ends lower; rupee weakens

The Pakistani stock market closed lower and the rupee weakened today as investors were cautions in the aftermath of Quetta bomb blast.
The benchmark 100-share index of the Karachi Stock Exchange (KSE) ended 0.15 per cent, or 26.05 points, lower at 17,921.02.
Telecom shares witnessed some action after a court ruling that approved the recent hike in international call rates.
The Supreme Court on Thursday declared the Lahore High Court�s stay order against new taxes on international call rates as null and void.
The Supreme Court said that the tax case should be heard by the Competition Commission of Pakistan, and should be resolved in 15 days.

"Trading was slow because investors are treading carefully in view of the political uncertainty in the country and also because of the gloomy situation in the aftermath of the Quetta bomb blast," Mushtaq Gazdar of Invest Securities said.

A market analyst said that the stock market had weakened because of a correction in global stock markets.
Gazdar said there was some activity in the oil and cement stocks, too
The Pakistani rupee ended weaker against the US dollar at 98.13 compared to Wednesday's close of 98.04.