KARACHI - The post major earnings announcement session saw bears returning to the stock market on investors concerns for fiscal position and difficult economic decisions as the government met IMF team to discuss release of next tranche for Pakistans economic support, despite continuing foreign interest in oil & gas, banking & fertilizer sectors. Ahsan Mehanti said, Rising circular debt concerns, as OMCs blocked fuel supplies in energy sector, and expectation for rise in yields in SBP auction on Wednesday played a catalyst role in the negative activity. The Karachi Stock Exchanges benchmark 100-share index closed 0.60 per cent, or 64.22 points, lower at 10,617.65. The KSE 30-index closed at 10,177.49 with a loss of 82.40 points. The KMI 30-index closed at 16,795.35 with a loss of 178.59 points. All shares index closed at 7388.87 with a loss of 44.53 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 10.61 million as compared to last trading sessions 10.81 million. Future market volume, however, stood at 3.61 million shares as compared to 2.74m shares of last trading session. Market capitalization stood over Rs 2.906trillion. As many as 130 companies advanced, 241 declined and 27 remained unchanged. Highest volumes were witnessed in DG Khan Cement at 9.58 million, closed at Rs.26.77 with a loss of Re. 0.95, followed by Lotte Pakistan at 8.87 million, closed at Rs. 10.27 with a loss of Re. 0.08, and B.O Punjab at 8.37milion, closed at Rs.9.71 with a gain of Rs. 0.28. Analysts said that positive opening led by main board stocks, soon invite support by the local institutions, turnover led strength in main board stocks, however, faced massive sell-off by the syndicate of local financial group and corporate participant thus not only wiping off the early gains, massive and across the board selling pushed the prospective accumulators mainly from corporate corridors on cautious mode, red numbers however did invite cautious buying in selective stocks. They said that increase in overall turnover, in both main board and mid-tier stocks mainly due to high volatility did allow the day traders to trade with improved quantities, economic and financial concerns however kept horizon restricted to cents. They added that despite severe threat on economy and gloomy financial horizon, hopes of revival of a stringent version of badla (MTS), that carries the restricted potential of allowing increase in turnover besides providing elevation in valuation to the main board stocks did restrict the decline. They further added that, however, day end panic and whispers of off-loading from off-shore accounts in index heavy weights disallowed any respite towards the end, that usually comes in on back of short covering and low volume pumping in index heavy weights.