KARACHI - After three consecutive days of gains, the stock market lost its momentum on the last day of the week and the KSE 100-share index lost 31 points to close at 9,645.71 on turnover of 134.42 million shares. The KSE 30-index closed at 9495.39 with a loss of 47.72 points. The KMI 30-index closed at 14668.61 with a loss of 79.89 points. All shares index closed at 6765.36 with a loss of 16.58 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 135.310 million as compared to last trading sessions 138.418 million. Future market volume however stood at 5.400mn shares as compared to 5.200m shares of last trading session. Market capitalization stood over Rs2.714tr. Total trades increased to 85,490 as compared to last trading sessions 83,718. 176 companies advanced, 178 declined and 29 remained unchanged. Highest volumes were witnessed in LOTPTA at 15.648 million, closed at Rs8.80 with a loss of Re0.21, followed by JSCL at 12.363 million, closed at Rs12.76 with a loss of Re0.43, and ANL at 7.800 million, closed at Rs11.50 with a gain of Re57. Hasnain Asghar Ali at Aziz Fidahusein said, Minor adjustment in the early hours become a starting point for the local participants. From thereon, despite last trading session of the week, the buyers clearly out-numbered the sellers, while some argued what has changed? Indeed this is the badla mania that has certainly triggered the run-up. Early highs were duly supported by resident participants and corporate buyers from both local and foreign corridors, as the renewed buying was quite evident in almost all the front-line and mid-tier stocks. Triple digit increase or 9817-9825 the technical band, however invited profit-taking from the local front. Rate-hike in OGDC however disallowed the index to reflect the so-called intra-day correction, that clipped the stock prices of main board and expensive stocks. Thus, depicted sell-off. Although the authorities are yet to give a final go ahead, re-introduction of CFS MKII will indeed allow the momentum to continue, however in case the product called MF comes in, that is 22 steps away from the original product .i.e. CFSMKII, thus, making it stringent the rally might lose some steam. What to do? Since the individuals have been exempted from quarterly filing of CGT, the turnover and volatility is likely to stay. Accumulating stocks trading at high multiples carrying technical support, with identified stop losses, and mid-tier stocks trading at steep discounts from recent highs for comparatively high number of days will prove prudent. With the developments, carrying a potential threat to smooth movement at the local bourse still existing caution stays the call, extreme movement may however be capitalized, emergent introduction of the mentioned leverage may however keep the momentum alive, further delays will therefore restrict the upside.