Apart from ripples of the Euro debt crisis and pre-budget worries of new taxation, political uncertainty emanating from discord if not confrontation between the executive and judiciary led to, afresh, bearish spell on local bourses. Initially, the local stocks fell after fresh selling in line with declining regional markets on the back of Euro debt crisis and the international oil rates being on their way down. To start with predominant benchmark of the countrys mother bourse booked a loss of well over a couple of percentiles on Monday last in one go. Pundits attributed this bearish onslaught to the pre-budget economic uncertainties and global financial situation in the backdrop of Greek debt problem more than the domestic political tensions. A let-up in the international crude oils declining trend and availability of local stocks at extremely trimmed price levels in addition to the short-covering drive helped the market to recover partially during the second session of the week under review. Arrival of IMF funds also helped the sentiment to undergo a short-lived recovery. By midweek tensions mounting between the apex judiciary and the government over the cases against President Asif Ali Zardari and his cronies in addition to the judicial review of the 18th Constitutional Amendment paved the bears way back to the market floors. Resultantly, the volume of trade squeezed and the Karachi Stock Exchanges KSE-100 again fell by a third of a percentile on Wednesday last. The governments situation become further precarious as the apex court insists upon implementation of its verdict against National Reconciliation Ordinance (NRO) disseminated perturbing sentiment to the bourses floors. The situation eventually turned to be confrontational with court requiring the government to write to the Swiss authorities for re-opening of the cases against President Zardari while the executive branch constantly maintains immunity to the head of the state under Article 248 of the Constitution. This friction between the representative institutions of the state was to deter the investors, both local and foreign, away especially from the short-term investment in stocks. Therefore, the local stock markets continued with the negative trend throughout the last three working sessions of the week that was. Not only the bearish sentiment gripped the market but also daily loss in the indexed value gradually increased to well over a percentile on the last working day that Friday. Since the Supreme Court was scheduled to hear critical cases that of the implementation on verdict against NRO and also the one challenging the constitutionality of the 18th Constitutional Amendment during the following week starting Monday (today), the sentiment of stock trade would follow the proceedings.