KARACHI - The local bourse witnessed bearish activity on Monday due to limited buying of stocks by local and foreign investors in different companies. The KSE 100-index closed at 11,596.69 points, down by 23.47 points or 0.20 per cent from the previous closing of 11,620.16. Gas shortage for industrial sector, a notch downgrade of Moodys ratings on 5 Pakistan banks, BP decline on OGDC & PPL bids, and uncertainty over approval of RGST played a catalyst role in the negative activity at KSE despite positive activity on Mansha group scrips after bid for UBL & NML sale of AES power thru IPO. Similarly, no commitments came in from the grand show held at London stock exchange, while volatile and sensitive law & order situation did send a wave of caution to the local participants, along with sell-off reported through off-shore accounts on Friday. On Monday, a total of 182.16 million volume shares traded at KSE as against of 233.1m recorded by market previously. Total ready market value stood at Rs3.44 billion or $40.06 million while KSE market capitalization came at Rs3,157.42 billion or $36.79 billion, respectively on the reported day. The KSE 30-index closed at 11,148.40 level, decreasing 36.13 points or 0.32 per cent from the last closing. The daily trading activity at market depicted that KSE future volume shares amounted to 2.29 million or Rs229.40 million while KSE future spread recorded at 5.70pc. The shares of Nimir Industrial Chemical opened at Rs1.85 and closed at Rs2.57 with highest rate of Rs2.74 and lower at Rs2.30, showing a turnover of Rs19.843m followed by Lotte Pakistan PTA whose shares opened at Rs13.33 and closed at Rs13.6, showing earnings of Rs10.811. Moreover, Lafarge Pakistan and Atlas Fund of Funds attracted Rs10.809 million and Rs10.282 million through trading of their shares at stock market on the said day. Hasnain Asghar Ali, a stock market analyst at Aziz Fidahusein &Co Pvt Ltd, in his report stated that while on one end the unified stance by the leading participants of sustaining the levels have allowed the benchmark to stay on gaining grounds, non-availability of ready board leverage offers low resistance to the syndicate from moving the market at its discretion, presence of local financial groups and holding companies has however kept the local bourse ripe for short term trading to be exercised upon positivism followed by turnover or technical calls. Apart from accumulation on dips in dividend yielding stocks, short term trading is an option for various stocks, inviting interest of the above mentioned participants, executing identified stop-losses is however advised, since long term activity is generally discouraged due to fragile economic and financial issues, he added.