KARACHI (Reuters) The Karachi stock market closed lower on Tuesday, as investors sold shares on higher levels to book profits, especially in the fertiliser sector, dealers said. The KSE benchmark 100-share index ended 0.89 percent, or 106.16 points, lower at 11,762.72. The KSE-index gained 2.66 percent on Monday. Volume fell to 84.40 million shares compared with 101.13 million shares traded on Monday. Profit taking in selected fertilizer stocks created a downward correction in the market, said Samar Iqbal, a dealer at Topline Securities. Fatima Fertiliser ended 4.6 percent lower at 25.30 rupees, while Fauji Fertiliser shed 2.28 percent to end at 189 rupees. In the currency market, the rupee firmed to 86.00/06 to the dollar from 86.48/53 on Monday, amid soft dollar demand from importers. Dealers said healthy remittances from Pakistanis living abroad were also supporting the rupee, but cautioned that a widening current account deficit means the local currency could experience downward pressure in the days ahead. Pakistans current account deficit surged to a provisional $908 million in September, compared with a deficit of $201 million in the previous month. The deficit for the July-September quarter was a provisional $1.209 billion, compared with $597 million in the same period last year, according to data from the State Bank of Pakistan. In the money market, overnight rates ended flat at 11.75 percent, and dealers said the market was now looking to Wednesdays fortnightly treasury bills auction, in which they expect a decline in the cut-off yields. APP adds from Islamabad: Islamabad Stock Exchange here on Tuesday witnessed bearish trend as the ISE 10-index shed 15.78 points to close at 2,592.17 points. Stock Analyst, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the profit-booking in the local equity bourse caused the bearish trend. He said that except this, there was no negative news. The Standard & Poors Ratings affirmed its 'B- long-term and 'C short-term foreign and local currency sovereign credit ratings on Pakistan which was the positive news for the local markets. He said that among the fertilizer sector, Engro Corporation has performed well by closing at upper circuit, because it increased the urea price by Rs.400 per bag. Total shares traded were 128,428, up by 76,448 as compared to the previous session. Out of 107 companies, the price of 27 increased while the price of 80 decreased. The price of top gainer Engro Corporation increased by Rs.5.91 while the price top loser decreased by Rs.9.76. Fatima Fertilizer, Fauji Fertilizer Bin Qasim (FFBL) and Arif Habib Corporation (AHCL) remained volume leaders on Tuesday.