KARACHI - Investors in Pakistan stocks remained concerned amid rising uncertainty over macroeconomic indicators and worries on depleting foreign exchange reveres.  This led market to erase 368 points from index, closing at 43,073 level. Out of 352 active scrips, only 85 managed to close green, while 243 fell in their values.

AVN gained 4percent in its value as investors reacted to the company's news regarding its newly undertaken projects in UAE and Doha. GHNL closed at its upper cap as investors are betting, that the company will be able to launch Nissan Datsun car.

KSE100 saw a dip of 500 points, courtesy of IMF economic outlook and concerns on fiscal stability. On top of it, news related to NAB opening cases against 52 companies marred the sentiment in the market.

Despite maintaining positive outlook, the Mutual Funds are reluctant in aggressive buying and only resorting to rebalancing their portfolios. Absence of foreign selling is a welcome respite for the market, in the presence of which the market could have seen serious bantering. Blue chip scrips such as DGKC, UBL, HBL, SSGC, SNGP and E&P companies saw selling pressure; however, serious interest develops when these scrips reach close to lower circuit.

Lower volume in the market suggests resistance of sellers to sell at all rates, which reignites the hope of a hike once the dust of negativity settles.

Among sectors, E&P sector eroded 85 points from index, followed by commercial bank and cement with cumulative deletion of 108 points from index points. While refineries contributed 7 points to index. Volumes increased from 142.4million shares to 163million shares (+15percent DoD). Average traded value also increased by 26percent to reach $66.7million as against $52.9million. Stocks that contributed significantly to the volumes include ANL, KEL, PAEL, FCCL and UNITY reflecting 35percent of total volumes.