Pakistani stocks end lower; rupee flat


Pakistani stocks end lower; rupee flatKARACHI, Aug 11 (Reuters) - Pakistani stocks fell on Tuesday as investors booked gains after the country's main index gained nearly 2.7 percent the previous day, dealers said.The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.46 percent, or 37.56 points, lower at 8044.50 points on turnover 178.58 million shares.The KSE-index has now gained 37.2 percent this year after losing 58.3 percent in 2008.'We saw some profit taking in some of the blue chip companies since the market rose in the previous two sessions,' said Sajid Bhanji, a dealer at brokers Arif Habib Ltd.The KSE-index rose 2.67 percent on Monday to its highest close this year as the International Monetary Fund increased its loan to Pakistan by $3.2 billion to a total of $11.3 billion.The IMF said it would immediately release $1.2 billion to Pakistan under its economic programme, first agreed in November last year to avert a balance of payments crisis.The rupee closed flat at 82.86/96 to the dollar, unchanged from Monday's close.The rupee has lost 4.5 percent this year after losing 22.12 percent in 2008.(Reporting by Sahar Ahmed; Editing by Victoria Main)((sahar.ahmed@thomsonreuters.com; +92-21 568 5192; Reuters Messaging: sahar.ahmed.reuters.com@reuters.net)) Keywords: FINANCIAL PAKISTAN/(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)COPYRIGHTCopyright Thomson Reuters 2009. All rights reserved.The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.