Bank blue chips were hurt by the concerns that they may not meet target loan growth this year in this environment of political uncertainties and high oil prices.

I expect in the short-term if there are solutions (to political uncertainty), the index will hit the 770-point mark.

The political situation has come to a deadlock that not only hurts investors' confidence, but also is likely to hurt the economy by delaying government infrastructure projects and free trade talks.

Any development at Government House will move the market. (If there's violence), the index will likely head down to 700 quickly.

Technical signs are also not very positive after the index fell below the previous technical support of 735 Wednesday, which triggered continued selling.

Domestic political uncertainties carried more weight in the session than positive cues from overnight gains on Wall Street.