Shares fall as investors wary of political tensi

KARACHI: Pakistani shares fell on all days this week, bringing down the benchmark index below the 40,000 mark, as political tensions deepened between the ruling and opposition parties, spooking investors.The benchmark 100-share index of the Pakistan Stock Exchange closed down 0.29 percent, or 114.43 points, at 39,872.88.The index fell 3.4 percent this week.”Fear gripped investors on increased political tensions between PTI (Pakistan Tehreek Insaaf) and ruling party Pakistan Muslim League (Nawaz) creating a selling spree on Friday,” said Fawad Khan, head of research at KASB Securities Pvt Ltd.Among the gainers, Fauji Cement Company Ltd rose 3.01 percent, while Sui Southern Gas Company Ltd was up 4.98 percent.The Pakistani rupee ended slightly weaker at 104.80/104.84 against the dollar, compared with Thursday’s close of 104.79/104.83.Overnight rates in the money market fell to 5.80 percent from Thursday’s close of 5.75 percent.