LAHORE - The first of the week Monday proved to be disappointed for Karachi Stock Exchnage when bourse witnessed landed in the negative column after gaining in four straight trading sessions and shed 1.66 per cent apparently due to delay in launcing the bailout package but in fact on account of profit-taking. The Karachi Stock Exchange's benchmark KSE-100 index while on losing 102.37 points close at 6041.44 remained within the limit of physiological barrier of 6,000 points. Though the market landed in the minus column but it investors never lose their confidence and are still optimistic. The bourse opened with a negative note and its both session remained negative while at mid-session the index had lost over 230 points before rebounding to 123 points at the closing session. The market opened for the year having lost 37 per cent of its value in just two weeks. On December 15, regulators had removed a "floor" imposed in August to stop heavy losses on the KSE-100. Last week, the exchange rebounded as investor confidence soared on speculation that a long-awaited government bailout fund for the market would be launched. The National Investment Trust-State Enterprise Fund (NIT-SEF), funded by state institutions and a consortium of banks, will invest rupees 20 billion ($250 million) in eight selected stocks. The fund is then expected to resell the shares to overseas Pakistanis in a bid to prop up the market. But thus far, the launch has not taken place. Analysts attributed Monday's drop not to a lack of investor confidence, but to profit-taking. "Today's drop in the market is not because of the delay in launching the (bailout) package but because investors went for profit-taking while foreign investors also withdrew their holdings," another analyst revealed. He said he believed it would still be some time before foreign investors reinvest in Pakistani shares. It is pertinent to note that foreign investors withdrew 440 million dollars of a total of 1.8 billion dollars in holdings from the KSE in 2008. Due to attractive prices of sharp declined share, most of traders in share business trying all out to buy valued stocks as traders believe that the fund is to be launched soon. Not only traders but also common people knew that after shedding over 58 percent of its size last year, market shares are working purchasing. Today KSE market was opened with negative note in which 52 scrips recorded gain, 204 landed in the negative column and 8 scrips remained unchanged. The market capitalisation was also eroded by Rs 33 billion to Rs 1.903 trillion. On Monday at KSE, volumewise leader remained Oil and Gas Dev shares. On the other hand, Lahore Stock Exchange (LSE) also lost after gaining four consecutive days after removal of 'floor' while LSE-index shed 22.95 points and wrapped up at 1632.64 points. At KSE, Oil and Gas Dev being a wolumewise leader lost its value of Rs 1.53 closed at Rs 52.49 with volume of 11,911,800 shares followed by WorldCall Telecom which lost its value of Re 0.50 closed at Rs 3.76 with volume of 11,122,000 shares where as National Bank gained its value of Rs 2.90 closed at Rs 60.99 with volume of 8,331,100 shares. TRG Pakistan shares which also lost its value of Re 0.17 closed at Rs 2.51 with volume of 5,332,000 shares. Whereas, Fauji Fertiliser landed in a positive column and gained Rs 3.74 closed at Rs 78.66 with volume of 4,515,200 shares. NIB Bank shed its value of Re 0.20 closed at Rs 5.72 with volume of 4,368,500 shares while Engro Chimical gained its value of Rs 5.83 closed at Rs 122.80 with volume of 3,856,700. Whereas MCB Bank and Zeal Pak lost their values of Rs 1.99 and Re 0.05 closed at Rs 116.34 and Re 0.61 with volumes of 3,750,000 and 3,560,000 shares respectively. While in Lahore Stock market, OGDC remained leader volumewise on Monday whereas 12 scrips recorded gains, 50 losses and 50 remained unchanged. The turnover of LSE-25 witnessed 12,810,400 shares were traded. OGDC lost its value of Rs 2.19 closed at Rs 52.39 with volume of 1,512,600 shares followed by NIB which also shed its value Re 0.28 closed at Rs 5.68 with volume of 1,477,500 shares while NBP gained Rs 2.90 closed at Rs 60.99 with volume of 1,059,100 shares traded.