KSE slips 36 points

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KARACHI: Local equities at Karachi Stock Exchange (KSE) ended lower on light trade on Monday, as investors stayed away because of concerns regarding the security situation in Karachi, the country's commercial capital, dealers said.

Fresh political and ethnic violence gripped Karachi over the past three days, leaving up to 44 people dead and taking the death toll for July to about 185, city police said on Monday.

"The deteriorating law and order situation in the city kept the market under selling pressure as investors remained cautious," said Samar Iqbal, a dealer at Topline Securities Ltd.

The Karachi Stock Exchange's benchmark 100-share index ended 0.29 percent, or 36.67 points, lower at 12,440.10.

Volume fell to 32.81 million shares, compared with 126.25 million shares traded on Friday.

Dealers said there could be some interest in the coming days in certain stocks on hopes of healthy corporate profits due to be announced soon. (Reuters)