KARACHI - Heavy selling activity was witnessed at stock market and investors remained on the sidelines as various rumours regarding imposition of GST on brokerage services and CVT raise on capital markets affected market sentiment negatively. The KSE-100 index was positive in the morning, up 12.53 points and crossed 7,300 mark. However, it lost the positive momentum in the end and shed 66.27 points to close at 7,210.34 points. Endorsement of previously stated view regarding no additional taxes in upcoming budget and in sales tax and rallying oil prices allowed the local bourses to continue the positive posture. Low turnover due to absence of ready board leverage tool and deliberate delay in arranging for the same by the authorities, however, never allowed the positive sentiment to prevail across the board. Trading activity was alarming on Monday as the ready market volume shrunk to 112.955 million shares as compared to last trading sessions 188.832 million shares. Total trading value decreased to Rs5.638b from Rs10.040b of last session. Market capitalization also came down to Rs 2.137tr from last sessions Rs2.156tr. Of 307 actively traded companies at the KSE, 90 gained value, as many as 205 lost while value of 12 stocks remained unchanged. JSCL was crowned as the volume leader with the trading of 15.827 million shares on Monday. Among other well traded shares were OGDC with 12.299m shares, AHSL 5.932m shares, DGKC 5.328m shares, Adamjee Insurance 5.146m shares, Pak PTA 4.933m shares, MCB Bank (SPOT) 3.647m shares, Pak Reinsurance 3.232m shares, Dewan Cement 2.849m shares namely. Prominent gainers include Rafhan Maize, up Rs20/share with the trading of only 100 shares, Pak Engineering gained Rs7.50/share, closing at Rs169, Exide Pak added Rs5.83/share and its value was improved to Rs123.50, Atlas Honda added Rs5.56/share and closed at Rs116.76, Service Industries up by Rs5.12/share, Indus Motor gained Rs4.72/share and closed at Rs130.88, Clariant Pak closed at Rs111.73, up by Rs3.90/share. On the other side, Siemens Pak lost Rs9.01/share with only 100 of its share traded on Monday, Mai Gas Company down by Rs8.40/share, closing at Rs159.86, Attock Petroleum lost Rs7.10 and closed at Rs306.36, EFU Life down by Rs6.13/share, Colgate Palm down by Rs5/share, GlaxoSmithKline Pak lost Rs4.95/share and its value was decreased to Rs134.90, Engro Chemical down by Rs4.91/share, closing at Rs135.34. Rumours of listing of companies held as strategic holdings did allow the price appreciation in the stocks last week. Since due to absence of ready board leverage high chances of rate inflation/erosion continues and it is therefore recommended to capitalize on the opportunity if provided, said research analyst Hasnain Asghar Ali.