Friday, July 04, 2008, Jamadi-ul-sani 29, 1429    

KSE-100 index sheds another 90 points

Staff Reporter

Karachi—Uncertain political conditions and shaky economic conditions persisting for quite some times in the Karachi contributed to the depressive market mood which shed yet another 90 points when closed at 12,035.21 level here on Thursday. Majority of the investors preferred to sit on the sidelines due to looming political and economic uncertainties. The trade volume also declined to 11 million shares as compared to 13 millions of the last trading session. Out of 202 active scrips, 31 advanced while 161 closed negative. Though KSE Board and Securities and Exchange Commission of Pakistan (SECP) introduced some market stability measures but they also did not provide the required strength to the shaky market confidence and the turnover further eroded to 11.11million shares. It looks that the market and the investors were enjoying summer vacations. Despite hectic efforts and all out support by the government institutions the investors in general sitting aside in the hope of improved conditions. Since the political and economic situation remains uncertain, investors taking a cautious look at the market.