Karachi: Pakistan shares fell for the first time in five days after the stock market regulator banned five brokerages from trading, ahead of the last day of the country's fiscal year.
The Karachi Stock Exchange 100 Index declined 43.99, or 0.6 per cent, to 7,162.18. Pakistan Telecommunication Co, the nation's biggest provider of phone services, slid 3.7 per cent to Rs17.24 (Dh0.77) after it declared a dividend that fell short of expectations, according to AKD Securities Ltd.
Nestle Pakistan Ltd, the nation's largest maker of dairy products, dropped five per cent to Rs1,091.98.
"The news of the suspension of brokerage houses, and the year-end settlements by investors, pulled the market down today," said Imran Khan, head of research at First Capital Equities Ltd. in Karachi.
The Karachi Stock Exchange 100 Index declined 43.99, or 0.6 per cent, to 7,162.18. Pakistan Telecommunication Co, the nation's biggest provider of phone services, slid 3.7 per cent to Rs17.24 (Dh0.77) after it declared a dividend that fell short of expectations, according to AKD Securities Ltd.
Nestle Pakistan Ltd, the nation's largest maker of dairy products, dropped five per cent to Rs1,091.98.
"The news of the suspension of brokerage houses, and the year-end settlements by investors, pulled the market down today," said Imran Khan, head of research at First Capital Equities Ltd. in Karachi.