KARACHI - The stock market witnessed intense selling on the first day of the week and the KSE 100-share index closed at its lowest level this year amid light trading. Investors were cautious ahead of the budget. The Karachi Stock Exchanges (KSE) benchmark 100-share index, which opened in the red zone with a loss of 5.02 points, fell 2.05 percent, or 194.73 points, to end at 9,326.42 points. The KSE-index ended at 9,302.92 points on Dec. 23, 2009. Volume fell to 59.62 million shares traded, compared with on turnover of 92.77 million shares on Friday. The KSE 30-index closed at 9243.66 with a loss of 197.41 points. The KMI 30-index closed at 14311.59 with a loss of 264.61 points. All shares index closed at 6546.90 with a loss of 134.58 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 60.515 million as compared to last trading sessions 94.664 million. Future market volume however stood at 3.493 million shares as compared to 19.421 million shares of last trading session. Market capitalization stood over Rs2.639tr. Total trades decreases to 47,330 as compared to last trading sessions 66,372. As may as 103 companies advanced, 299 declined and 10 remained unchanged. LOTPTA was the volume leader with 5.782 million shares, closed at Rs8.54 with a loss of Re0.58, followed by JSCL at 3.919m, closed at Rs10.99 with a loss of Re1.00, and TRG at 3.284m, closed at Rs4.53 with a loss of Rs0.20. Ahsan Ahsan Mehanti, Chief Executive Officer at Shahzad Chamdia Securities, said, Rising weakness in global capital markets over European debt crises, rising challenges of war on terror on Pakistan and limited foreign interest played a catalyst role in the negative activity. Hasnain Asghar Ali at Aziz Fidahusein said, The meltdown continued as the index lost values amid low turnover. The index, after positive numbers during early hours, stayed in the red zone. The negative numbers continued to increase due to sell-off mainly by the resident participants. The sell-off intensified around mid-day.