Dull activity at KSE (02092008)

KARACHI: The local capital market failed to attract positive activity at the beginning of this week even after the Securities and Exchange Commission of Pakistan floored the stock prices in the last week.
The trade activity remained flat at KSE on Monday as benchmark KSE-100 Index gained just 2 points to close at 9210.
Negativity prevailed from the start of trade today. Investors opted to sell in banking scrips after prominent scrips from the sector turned in lower-than-expected results last week.
Experts say investors are still fixated with uncertainty on the political front, not allowing positive statements from international funds, or declining non-performing loans to have an impact at the bourse.
Volumes fell to just 23.6 million shares as compared to an average of 70 million shares traded last week.
The broader market also looked directionless with 106 scrips remaining unchanged while 62 advanced and 41 declined.