KARACHI, Feb 19 (Reuters) - Pakistan's stock market closed lower on Tuesday amid unconfirmed news that telecom companies may face contempt of court charges after increasing international call rates.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.27 percent, or 47.90 points, lower at 17,817.71.
Pakistan Telecommunication Corporation fell 4.26 percent to 21.80 rupees and Engro Corporation rose 4.18 percent to 103.30 rupees.
The Engro Corporation rose after an agreement with the state-run Oil and Gas Development Ltd that Engro would receive a reliable gas supply at a time of national gas shortages, said Samar Iqbal at Topline Securities.
In the currency market, the rupee ended weaker at 98.16/98.21 against the dollar, compared to Tuesday's close of 98.10/98.15.
Overnight rates in the money market fell to 7.25 percent compared to Tuesday's close of 7.50 percent.
(Compiled by the Karachi newsroom)
Keywords: FINANCIAL PAKISTAN/
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