Karachi: Pakistani stocks ended lower yesterday, jolted by political uncertainty after another member of the country's governing coalition said its two ministers in the federal cabinet would resign.
The Muttahida Qaumi Movement, the dominant political party in Karachi, said the ministers' resignations were a first step and a decision on whether to stay part of the federal as well as the provincial Sindh government would be taken soon.
The Karachi Stock Exchange's benchmark 100-share index ended 0.52 per cent, or 61.68 points, lower at 11,848.05. Volume was 110 million shares.
"Bearish activity was witnessed on rising political uncertainty and investors are also still concerned over a rising fiscal deficit after extension approval of the IMF loan programme," said Ahsan Mehanti, director at Arif Habib Investments Ltd.
