The Karachi Stock Exchange closed lower on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange falling 0.89 percent, or 255.03 points, to 28,436.59.
The market continued to decline amid disappointing corporate results. Oil, fertilizer and banking sectors remained under selling pressure whereas some cherry picking was seen in cement stocks, dealer Samar Iqbal at Topline Securities said.
Fauji Cement Company Ltd fell 1.85 percent to 17.02 rupees and Engro Fertilizer Ltd was down 2.84 percent to 64.30 rupees.
The rupee ended weaker at 98.35/98.40 against the dollar compared to Monday’s close of 98.05/98.12.
Overnight rates in the money market remained flat at 9.75 percent.