OUR STAFF REPORTER KARACHI - The Karachi stock market closed down on Tuesday amid fresh episode of political uncertainty that emerged after the Muttahida Qaumi Movement (MQM) announced to quit from Pakistan Peoples Party (PPP) led coalition government, both at center and Sindh. The Karachi Stock Exchange (KSE) 100-share index fell 102.05 points, or 0.82 per cent to close at 12,362.44 points against 12,464.49 points on market turnover of 67.07 million shares. According to the daily trading statistics issued by KSE, total market capitalisation amounted to Rs3, 255.03 billion, or $37.81 billion while the ready market value recorded at Rs2.59 billion, or $30.10 million respectively. The KSE-30 index ended 1.68 per cent, or 190.37 points lower at 11,572.81. Hasnain Asghar Ali, a senior analyst at Aziz Fida Husein Co, said heated political environment became an excuse for long awaited slump, that was in the making mainly due to stagnation, however volume less strength in illiquid stock did allow the benchmark for reflecting the wider market sentiment, various frontline stocks, considered expensive, due to curtailed local strength and massive reduction in number of market participants faced renewed sell-off thus leading to a triple digit decline by midday. Selective accumulation in frontline stocks likely to stay strong on track of growth, both on earnings an payouts along with renewed support by the respective group in listed stocks mainly in fertilizer sector, did allow turnover to show some strength, while low volume strength in illiquid stock continued to offer 45 points support, that has been a prominent exercise for quite few sessions, he said. Fragile economic and financial issues, and heated political front existing on macro, while declining turnover at local bourse suggest caution, with fresh placement of equity specific stocks is selected stocks, away from various woes both political and financial, for both trading and placement, stays the recommendation, he added.