KARACHI - The bears tightened their grip on the stock market on Wednesday on renewed concerns over implementation of capital gain tax mechanism on stock exchanges, with investors preferring to book profits despite good result announcements by banking and textile sector. The KSEs benchmark 100-share index, which opened in the green zone with a gain of 9.26 points, ended 0.48pc, or 51.31 points, lower at 10,590.21 points on turnover of 145.48m shares. The KSE 30-index closed at 10740.33 with a loss of 71.97 points. The KMI 30-index closed at 15923.96 with a loss of 86.67 points. All shares index closed at 7463.45 with a loss of 32.47 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 145.502m as compared to last trading sessions 137.058mn. Future market volume, however, stood at 2.754m shares as compared to 2.697m shares of last trading session. Market capitalization stood over Rs3.003tr, as total trades increased to 79,717 as compared to last trading sessions 74,658, while 169 companies advanced, 212 declined and 29 remained unchanged. Highest volumes were witnessed in MLCF at 17.201m, closed at Rs5.08 with a gain of Re0.38, followed by LOTPTA at 12.232m, closed at Rs11.81 with a loss of Re0.32 and TRG at 7.996m, closed at Rs5.75 with a gain of Re0.03. Ahsan Mehanti at Shehzad Chamdia Securities said, Rising circular debt in energy sector, uncertainty in global capital markets remained a major concern for investors in the quarter-end result announcements session. The news that affected the trading activities at the market were: Cabinet to review KESC performance today; Rs30b shortfall likely in Jul-Apr tax collection; Domestic liabilities rocket to Rs4.5tn; and budget in June. The selective and calculative accumulation by the corporate participants and the rumours of re-introduction of CFS MKII by May did reduce the selling intensity, which otherwise stayed high due to the absence of buyers on intervals. Delay in full and final settlement of PTC privatisation has stayed a cause of concern for the stakeholders, as earlier during the year the govt representatives confirmed that Etisalat will make the payments after property transfer issues are resolved, now the statement suggesting a tussle regarding the condition.