LAHORE - Wednesday was the 13th consecutive day after the removal of floor mechanism when Karachi Bourse meltdown unabatedly shedding further 2.9 per cent value meaning the market has so far lost 34.3 per cent of its value since December 15, when regulators removed a "floor" on the benchmark index imposed in August to stop such colossal losses to investors and brokers. The ramshackle Karachi Stock Exchange went further down as KSE bourse had lost 172.37 points and wrapped up at 5,865.01 below 6,000 psychological barrier after a long span of time. Analysts and brokers are of the view that this unabated down fall of KSE would not stopped unless government unveils its oft-promised Rs 20 billion (250 million dollar) bailout package quickly for the market to recover. Though this bailout package was announced last month but government authorities have not yet finalised the package date. The IMF has recently awarded Pakistan a $7.6b credit line to help stave off a balance-of-payments crisis and had transferred first tranche into SBP account but still value of shares are melting down day after day. Volume was 78.68m shares " less than one-third of the 250 million shares traded daily last The trade in tumbling KSE-100 market stated with a negative note and remained intact all along the day while 83 scrips recorded gain, 105 landed in the negative column and 7 scrips remained unchanged out of a total of 195 companies. The senior analysts are of the view that removal of floor mechanism from KSE proved to be bad omen, which was imposed in August to redress the grievances of brokers and traders as bourse is falling down continuously and unabatedly, which has sent brokers at the verge of bankruptcy. On Wednesday at KSE, volumewise leader remained Pak Prem Fund shares. On the other hand, Lahore Stock Exchange (LSE) remaining lacklustre saw the LSE-index shedding 76.16 points and wrapped up at 1491.94 points. At KSE, Pak Prem Fund being a wolumewise leader gained its value of Re 0.43 closed at Rs 2.02 with volume of 8,088,000 shares followed by Hub Power which also landed in the positive column and gained value of Re 0.53 closed at Rs 14.09 with volume of 8,823,000 shares while Pak PTA Limited Fauji Fertiliser Co and TRG Pakistan gained their values of Re 0.34, Rs 1.62 and Re 0.20 closed at Rs 1.59, Rs 58.73 and Rs 1.78 with volumes of 5,539,500, 5,388,100 and 5,071,500 shares respectively. NIB Bank, JS Growth, Zeal Pak and Fauji Fert Bin Qasim also gained their values of Re 0.41, Re 0.21, Re 0.02 and Re 0.05 closed at Rs 4.67, Rs 2.98, Re 0.52 and Rs 12.90 with volumes of 4,154,00, 3,409,500, 3,253,500 and 3,174,000 shares respectively. While Pak Petroleum, Askari Bank and Pace (Pak) Ltd lost their values of Rs 5.29, Re 1.00 and Re 0.60 closed at Rs 100.62, Rs 14.57 and Rs 8.64 with volumes of 2,827,00, 2,531,200 and 1,806,500 shares respectively. Meanwhile, the KSE-30 index also dipped down and shed 216.56 points wrapped up at 5485.33 points while KMI-30 index also tumbled detaching 191.37 points closed at 6703.46 points. While in Lahore Stock market, NIB Bank remained leader volumewise on Wednesday like Monday and Tuesday where 23 scrips recorded gains, 27 losses and 54 remained unchanged. The turnover of LSE-25 witnessed downward trend and 3,390,900 shares were traded as compared to 5,470,400 shares on Tuesday. NIB Bank gained its value of Re 0.50 closed at Rs 4.80 with volume of 606,000 shares followed by ZELP which lost its value of Re 0.01 closed at Re 0.52 with volume of 552,000 shares while PCCL gained its value of Re 0.29 closed at Rs 3.25 with volume of 282,500 shares traded.