KARACHI, Aug 22: The KSE 100-share index on Friday again broke through the barrier of 10,000 points at 9,993.81 as investors continued to unload their long positions on the blue chip counters apparently awaiting return of sanity to the political front.

It finally finished with a fresh fall of 242.85 points or 2.37 per cent but well above the session’s low of 9,909.89 on late short-covering. The index had fallen by nine per cent during the last three days as most of the base shares ended with lower locks under the lead of National Bank, Engro Chemical, MCB Bank, Pakistan Petroleum and Pakistan Oilfields.

Its junior partner the KSE 30-share index also fell by 400.57 points or 3.41 per cent at 11,355.09 as its major contributors fell further on renewed selling.

All the negative factors including renewed weakness of the rupee against the dollar, law and order caused by suicide attacks and lingering issue of the judges restoration have pushed the market beyond an immediate recovery, analysts believe.

What worries investors the most was that the coalition could fall apart any time owing to disagreement on some core issues, they said. “No one is inclined to invest in the share business amid political uncertainty”.

And on the top of it is the hanging sword of Moody’s possible downgrading of Pakistan’s sovereign currency rating, they added.

No one could deny the fact that the current levels are attractive enough for any future gainful investment, but investors would not like to see their savings eroding after putting it into the share business amid prevailing political uncertainty, said a leading broker.

Shell Pakistan and Fateh Textiles, were among the top gainers, up by Rs10.95 and Rs25, followed by Al-Ghazi Tractors, Atlas Honda, IGI Insurance, Shaheen Insurance and AKD Capital, which rose by Rs3.10 to Rs7.95.

JS & Co and EFU Life led the list of losers, off Rs20.40 and Rs20 respectively. Other prominent losers included MCB Bank, EFU General, Engro Chemical, Sapphire Fibres, Adamjee Insurance, Attock Petroleum, PSO and JS Global, which was marked down by Rs10 to Rs16.45.

Trading volume fell to 103m shares from the previous 120m shares as losers held a strong lead over the gainers at 188 to 78, with 18 shares holding on to the last levels.

OGDC again topped the list of actives, sharply lower by Rs3.22 at Rs108.20 on 15m shares followed by National Bank, off Rs5.70 at Rs108.48 on 5m shares, Arif Habib Securities, down by Rs5.71 at Rs108.65 also on 5m shares and D.G. Khan Cement, easy by Rs2.41 at Rs45.79 on 4m shares.

Hub-Power, lower by Rs1.18 at Rs22.46 also on 4m shares, Lucky Cement, lower by Rs1.16 at Rs67.25 on 4m shares and Engro Chemical Pakistan, sharply lower by Rs10.42 at Rs197.98 on 3m shares.

Other actives were led by Zeal Pak Cement, easy by nine paisa at Rs1.40 on 6m shares, Nimir Chemical, off 27 paisa at Rs2.18 on 5m shares and NIB Bank, lower by nine paisa at Rs9.23 on 3m shares.

FORWARD COUNTER: OGDC also led the list of actives on the cleared list, off by Rs2.53 at Rs108.89 on 3m shares, JS & Co, sharply lower by Rs20.40 at Rs387.60 on 1.236m shares and Engro Chemical, off Rs10.46 at Rs198.74 on 1.218m shares.