KARACHI - The selling activity turned the local equity market in red numbers on the first day of the week as the KSE 100-index shed 67 points; losing the psychological barrier of 9,000 points. The benchmark that was lifted by index heavy weights, OGDC and MCB on back of dollar inflow from foreign land, did struggle to continue the momentum since the recovery staged by the benchmark failed to invite substantial turnover to support the change in sentiment. Heavy sell-off witnessed in oil exploration, cements and banking sector scrips on falling international oil prices, global equity market correction, penalty on cement cartels by CCP and higher NPLs in the banking sector. While investors preferred booking profit in overbought market after results announcement session near to its end. The 100-index kicked-off in green numbers, up by 59.27 points and unlike the past few sessions, index lost the upward direction and turned red at the end of the day, closing at 8,935.86 points with a loss of 66.82 points. Meanwhile, KSE 30 index closed at 9, 562.91 points with a loss of 88.24 points. Trading activity further decreased to 195.016 million shares as compared to last trading sessions ready market volume of 197.163 million shares. Total trading value of the exchange slightly increased to Rs 12.622b against Rs 12.14b of last session. The fearful investors become more fearful after reaching the 9,000 level in a speedily manner. The investors waiting for 9,000 level started dumping their holdings in the stock market, said market expert Shahid Ali. Furthermore, share of bank defaulter in the hands of bank most probably reached the level of breakeven where banks are in no gain no pain situation. So it justifies that they may offload the stocks in the market. Market capitalization squeezed to Rs 2.604tr as compared to Rs 2.622tr of last session. Out of total 374 active symbols at the Karachi stock market, 154 managed to advance, at least 211 declined while the worth of the shares of only 9 cos remained unchanged. OGDC the market king along with PPL lost valuable ground as a result of correction. The cement twins also lost some weight followed by E&P sector. Banking sector also slide down keep in view the market sentiment. After a gap of several sessions, E&P giant OGDC was witnessed as the volume leader with a healthy turnover of 16.309m shares, followed by DGKC with15.925m shares, Bank Al-Falah 14.279m shares, NBP 12.261m shares, NML 10.253m shares, ANL 9.939m shares, PPL 9.865m shares, Pak Oilfields 9.166m shares, PTCL 7.980m shares, Lucky Cement 7.332m shares namely. Leading gainers at the KSE include Fazal Textile, up by Rs16.41/share to close at Rs488.56 with a small turnover of only 322 shares, Lakson Tobacco added Rs8.89/share and its total value was improved to Rs186.86, Services Industries gained Rs8.08/share, closing at Rs169.82, JS Global up by Rs4.97/share and closed at Rs104.53, PPL gained Rs4.33/share to close at Rs217.50. On the other side, Pak Engineering lost Rs10.88/share to close at Rs206.77, Attock Petroleum down by Rs8.99/share and its value was decreased to Rs373.10, Pak Services lost Rs8.09/share to close at Rs237.61, Grays of Camb down by Rs7/share, closing at Rs133 with the trading of 2 shares, ICI Pak down by Rs6.36/share and closed at Rs169.51.