KSE closes flat on SBP rate hike rumours

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KARACHI: Rumours that the State Bank of Pakistan (SBP) would launch a hawkish monetary policy later this month kept the traders in the

Karachi Stock Exchange (KSE) on the sidelines here on Friday.

KSE shed gains on on the rollover day to close lower at at 23,673.30 mark.

The benchmark 100-share index lost 0.06 percent or 14.59 points.

Oil and Gas Development Co Ltd fell 1.26 percent to Rs260.12, while Engro Foods Ltd was down 0.28 percent to finish at Rs121.45.