Pakistan stocks end down; earthquake hits sentiment

REUTERS - Pakistan stocks ended lower on Monday as sentiment took a hit after Pakistan and Afghanistan were struck by a major earthquake, dealers said.

The benchmark 100-share index of the Karachi Stock Exchange closed down 0.25 percent at 33,860.64.

"The market remained positive through the first half of the session before closing down 84 points at the 33,860 level. Investor confidence was dampened in the closing hours on news of a major earthquake hitting the northern parts of the country," said Mohammad Rizwan, head of marketing at Topline Securities Pvt Ltd.

Engro Fertilizer Ltd fell 0.41 percent to 90.00 rupees despite announcing quarterly results which were in line with market consensus.

Shares of Engro Foods Ltd, Engro Corporation Ltd and Fauji Fertilizer Company Ltd also lost ground.

The rupee ended weaker at 104.44/104.49 against the dollar, compared with the previous close of 104.40/104.45. Overnight rates in the money market rose to 6.25 percent from the previous close of 5.00 percent.

(Reporting by Syed Raza Hassan; Editing by Sunil Nair)