KARACHI - Bearish activity was witnessed in the earning-announcement session on rising political concerns and institutional profit-taking amid absence of any positive triggers. The Karachi Stock Exchange 100-index closed at 10,024.86 points with a loss of 20.17 points. The KMI 30-index closed at 15731.71 points with a loss of 6.40points. All share index closed at 6999.19 points with a loss of 15.03 points. The trading activity was maximal as compared to the last trading session as the ready market volume stands at 6.341 million as compared to last trading session 5.327 million. Future market volume, however, stands at 1.47 million shares as compared to 1.0 6million shares last trading session. The market capitalization stands over Rs2.771 trillion. As many as 151 companies advanced, 218 declined and 27 remained unchanged during the day. The highest volumes were witnessed in Atlas Bank Ltd at 8.17 million closed at Rs2.15 with a loss of Rs0.43 followed by Lotte Pakistan at 4.80 million closed at Rs8.47 with a loss of Rs0.08, TRG Pakistan Ltd. at 4.508 million closed at Rs4.26 with a gain of Rs0.2. The analysts said that investors preferred booking profits amid concerns for low volumes & rising circular debt in Pakistan energy sector despite continuing foreign interest in blue-chip oil & gas, telecom & banking scrips and rising international oil prices near to $82. They said that prolonged stagnation, strategy of sell on strength by local participants finally led to a low volume meltdown, main board stocks, mainly those vulnerable to high interest rates, inefficient debt management, rising NPLs (latest being the numbers from agri-loans) decline in export demand. They added that slowdown in economy and high circular debt, either failed to invite volume and struggled to sustain previous closing numbers from previous session or faced sell off even on marginal gains. They further said that besides strategic buy-out by the local through FIPI, the sell-off reported through FIPI in main board stocks and availability of blocks being offered by offshore participants kept the sentiment builders from local circuits on back foot, thus disallowing any resistance to the meltdown during the session. They said that block trades and placements in main board stocks and low volume strength in index heavy weights, however, allowed the turnover to match that from previous session and keeping the benchmark above the psychological 10000, activity, however, failed to inspire the renewed activity. They further informed that although blocked trade reported through FIPI did have a major impact on FIPI inflow, that is usually propagated to improve the local sentiment by scaring the locals that a major chunk of stocks are held by foreign participants, transactions like these endorse the view that local funds parked beyond boundaries come into play for sentiment building and other wise.