KARACHI - Profit taking was witnessed at the overbought market as the KSE 100-index shed 37 points to close at 8,044 points on Tuesday. Investors booked profits as uncertainty loomed over significant discount rate cut after CPI inflation figures for week-on-week rose by 1.54pc which disappointed the investors. Change of hands can be termed as positive for the market as fresh hand can keep the stocks for a longer period of time. After crossing the 8,000 hurdle, possibility of consolidation cannot be ruled out, said research analyst Bilal Asif. Despite selling pressure, market sustained the 8,000 level. Hopefully positive news from monitory policy may strengthen the bullish sentiment. The Karachi market was positive in the opening, up by 43.48 points and remained in the green zone for a reasonable time. Profit taking in the end changed the direction of the market and index lost 37.56 points to close the day at 8,044.50 points. Trading activity was much healthier as the ready market turnover crossed the 200m mark and stood at 200.809m shares on Tuesday as compared to last trading sessions 185.769m shares on Monday. Total trading value of the stock exchange edged up to Rs 13.299b as compared to Rs 10.814b of last session. Approval of margin financing proposal by the regulatory authority to address the issue of ready board leveraging, final product will be awaited before the local bourses react on the development, therefore a stagnant midday witnessed offloading, stated market expert Hasnain Asghar Ali. Market capitalisation moved down to Rs 2.370tr against Rs 2.380tr of last session. Of 396 active stocks at the KSE, 155 managed to advance, 218 declined while the value of the stocks of 22 cos remained unchanged. Despite selling pressure OGDC maintained its current level. POL became a star performer of the E&P, surprised lot of investors with a gain of over Rs6/share. RBS kept on moving upwards where as MCB kept on struggling. DGKC was witnessed as the volume leader of the day with a handsome turnover of 26.409 million shares on Tuesday, followed by JSCL with 18.496m shares, OGDC 18.210m shares, AHSL 14.712m shares, Lucky Cement 12.657m shares, Pak Oilfields 12.442m shares, Adamjee Insurance 7.812m shares, ANL 6.773m shares, NML 6.594m shares, NBP 5.869m shares namely. Top gainers at the KSE include Treet Corporation, up by Rs24.18/share to close at Rs531.33, Sitara Chemical added Rs7.82/share, closing at Rs164.32, Pak Oilfields gained Rs6.80/share and its total value was improved to Rs183.60, Al-Ghazi Tractor up by Rs6.70/share to close at Rs180.98, Bata Pak added Rs6.43/share and closed at Rs705.20 with the trading of only 207 shares. Conversely, Rafhan Maize lost Rs57.34/share to close at Rs1,517.50, Dreamworld down by Rs17.50/share, closing at Rs520.50, Fazal Textile down by Rs14.93/share and closed at Rs365 with the trading of only 1 share, Attock Petroleum lost Rs9.57/share and its total value was decreased to Rs369.79, Indus Motor down by Rs8.13/share to close at Rs154.51.