Stocks Observer. com

The Karachi stock market ended more than 1 percent lower on Monday as a potentially destabilising dispute between the Supreme Court and the president over judicial appointments worried investors. Moreover, expectation of rising confrontation between the leadership of the PPP and the PML-N also affected the market sentiment. The Karachi Stock Exchange (KSE) benchmark 100-share index, which opened in the red zone with a loss of 78.44 points, ended 1.06 pc, or 104.06 points, lower at 9,701.81. Volume was at a one-month low as 78.86m shares were traded. The volumes were thin and stood at 132m shares, 40 percent lower than Friday’s volume. The government officials meeting with the IMF personnel, for the release of IMF’s fifth tranche was unable to boost investors’ interest. Institutional investors’ participation was quite low as political uncertainty forced them to stay in the sidelines. Nevertheless, individuals continued to participate in the market mainly in sideboard stocks like TRG,