KSE 100-index ends 25 points lower to 11974

KARACHI: The benchmark KSE 100-share Index closed lower on Monday despite a strong opening, as investors remained concerned over developing political issues in the southern province of Sindh.

"The market opened strongly today but the rising political temperatures created some panic, and pulled the index lower," a dealer at KSE said.

The Muttahida Quami Movement, a key ally of the ruling Pakistan People's Party of President Asif Ali Zardari, again accused the Sindh province's home minister of patronizing criminals, raising concerns over political stability.

The Karachi Stock Exchange's (KSE) benchmark 100-shareindex ended 0.212 percent, or 25.48 points, lower at 11,974.55,after touching an intraday high of 12,158.01.

Turnover fell to 11.84 million shares, compared with 187.45million shares traded on Friday.

Dealers said with the corporate earnings announcement season now over and in the absence of any major trigger, the market is likely to consolidate around the current levels. (Reuters )