KARACHI - The Karachi stock market observed a bearish trading session with thin volumes on Thursday. The investors expressed serious concern over the revelations of the report issued by Asian Development Bank on Pakistans macroeconomic indicators, stating that inflation and fiscal deficit would further increase in the country. The Karachi Stock Exchange 100-share index lost 84.34 points and closed at 11,848.84 points. The index had closed at 11,933.18 points on Wednesday. Market turnover declined to 75.09 million shares against 88.30 million shares traded previously while market capitalization stood at Rs3, 158.77 billion or $37.22 billion respectively. Similarly, total trading value was recorded at Rs2.62 billion or $30.90 million. Pak Reinsurance Limited, P.I.A.C, Lucky Cement Limited, Bank Alfalah Limited and Lotte Pakistan were the most active stocks by turnover. The KSE 30-index declined by 55.94 points to close at 11,512.23 points mark. KSE future volume was recorded at 3.56 million shares and its value was at Rs365.94 million shares and spread was at 10.47 per cent.