
KARACHI: Karachi Stock Exchange witnessed another day of dull trade activity as the benchmark KSE 100-Index shed 0.71 points to close at 9, 179.
The trade volume hovered near record lows.
The proposed market support fund was unable to boost market sentiment and investors kept on the sidelines due to the presence of stock prices floor.
Dealers say the market lacked fervor and liquidity as downgrade of the country's credit ratings to negative kept investors at bay.
Trading volume rose to 1.5 million shares just above its lowest level of 985,000 recorded last week.
Out of 96 active scrips only 10 advanced and 15 declined, while 71 remained unchanged.
Market analysts say regulators have asked members to remove the floor limit but with on-going fiscal imbalances and a 40 percent hike in overnight call rates of banks, the market is likely to stay flat.
Many also caution of a sharp slide, once the base is removed - citing bad economic fundamentals and lack of direction on part of the government.