KARACHI - Profit taking was witnessed in blue-chip stocks on lack of institutional support in the stock market while the KSE 100-index shed 53 points to close at 7,710 points on Monday. Moreover, power outages and heavy rains in the city led to minimal volumes. Foreign investors remained on the sidelines, withdrawing investment in last trading session on rupee instability. The investors started the day on a positive note but lately market gains were trimmed down to a mere loss of 53 points. Every day can be termed as a brand new day as market momentum does not justify such erratic market behaviour, said market expert Shahid Ali. Volumes did take a U-turn to lower level as against previous working day. Political development between India and Pakistan did take a U-turn as well, which considered a positive development. Apart from market fundamentals, weather also played its roles as rain washed away the developing market sentiment. As far as market trend is concerned, we expect a gradual positive movement may continue to push the stock market upwards. But it may not happen in fast and furious manner; definitely it will be a gradual move, stated research analyst Bilal Asif. The KSE 100-index was positive in the opening with a gain of 16.31 points and after witnessing intraday high of 7,807.09 points, index closed the day at 7,710.64 points, showing a loss of 53.37 points. Trading activity was further decreased as compared to the last trading session. The ready market volume squeezed to 146.132 million shares as compared to last trading sessions 183.829 million shares. Total trading value of the market came down to Rs5.555b from Rs10.342b of last session. Market capitalisation moved downwards to Rs2.271 tr as compared to last sessions Rs2.285 tr. Out of 301 active symbols at the Karachi stock market, at least 138 gained value, 151 lost while the value of the shares of 11 cos remained unchanged. Sudden shift in top ten volume leading stocks as top tier stocks were replaced by mostly third tier stocks. 50 percent of stocks among top ten stocks valued less then Rs10/share, which can surely give an idea how top tier stocks performed. E&P stocks were out of colour along with Fertilizer and Banks. Surprisingly, WorldCall Telecom was crowned as the volume leader of the day with a healthy turnover of 15.382 million shares on Monday. Other noted shares include DGKC with 9.548m shares, Pace Pak 8.752m shares, Bosicor Pak 6.853m shares, JSCL 6.779m shares, AHSL 6.657m shares, UBL 6.431m shares, Azgard Nine 5.675m shares, Samba bank 3.726m shares namely. Prominent gainers at the KSE include Unilever Pak, up by Rs45/share with a small turnover of 60 shares, Treet corporation added Rs13/share to close at Rs294, Pak Services gained rs7.90/share and closed at Rs165.90, Shell Pak up by Rs7.67/share and its value was improved to Rs232.39, Javedan Cement gained Rs5.60/share to close at Rs117.95, BOC Pak added Rs3.98/share to close at Rs119.84. On the other side, Siemens Pak Engineering lost Rs46.05/share to close at Rs921, Nestle Pak down by Rs29.99/share and its total value was decreased to Rs985, Sitara Chemical lost Rs5.45/share, closing at Rs154.05 with the trading of only 100 shares, PPL down by Rs5.02/share and closed at Rs194.25, Hinopak Motor down by Rs5/share and closed at Rs153, PRL lost Rs4.99/share to close at Rs111.94.