KARACHI: Stock prices at Karachi Stock Exchange (KSE) fell on Monday on light trade as rising political uncertainty kept investors cautious, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.37 percent, or 52.39 points, lower at 13,990.38 points on turnover of 164 million shares.
"The absence of any upcoming triggers, along with rising political noise, kept investors on the sidelines," a stock dealer said.
The Supreme Court last week found Prime Minister Yusuf Raza Gilani guilty of contempt of court for refusing to re-open corruption cases against the president. The court gave the prime minister only a symbolic sentence of a few minutes detention inthe courtroom.
Since then, opponents have called for Gilani to resign, but he has so far refused. Most analysts anticipate another legal challenge to Gilani's eligibility to remain prime minister, which is causing anxiety over the political situation. (Reuters)