KARACHI The stocks edged lower on Tuesday as investors opted to book profits after the index hit a more than 29-month high the previous day. The Karachi Stock Exchanges benchmark 100-index on Tuesday closed at 11,825.06 level, showing a decline of 18.59 points or 0.16 per cent from the level of 11,843.65 witnessed previously. Showing a serious concern over the rising rate of SPI inflation, which reached above 22 per cent YoY and growing political uncertainty in the country, investors preferred to book profits in the over-bought market. Stock and sector switching mainly in textile and fertilizer & chemical sectors along with offloading in banking and oil and gas exploration stocks kept the benchmark under pressure. Companies however disallowed extended decline. According to market trading activity, a total of 116.80 million volume shares traded at KSE on the said day as against of 113.2 million registered by market previously. Total ready market value stood at Rs5.06 billion or $59.04 million while KSE market capitalization was recorded at Rs 3,214.44 billion or $37.47 billion, respectively on the reported day. The KSE 30-index closed at 11,393.54 level, increasing 5.41 points or 0.05 per cent from the last closing. The daily trading activity at market depicted that KSE future volume shares amounted to 5.36 million or Rs535.17 million, while KSE future spread came at 4.65 per cent. The shares of Bank Al-Falah Limited opened at Rs10.64 and closed at Rs1094 with highest rate of Rs11.10 and lower at Rs10.65, showing a turnover of Rs12.476 million, followed by National Bank of Pakistan whose shares opened at Rs71.20 and closed at Rs72.05, translating into earnings of Rs9.226 million. Moreover, the shares of Lotte Pakistan PTA earned Rs8.758 million at the opening rate of Rs13.23 during at stock market on the said day. According to the report, high quantum activity mainly in banking stocks, did lead to an excited opening for the benchmark, crossings in banking stocks on strength, wherein local corporate participants executed placements at almost highest range of the day, specific stock from Oil & Gas sector witnessed identical activity around midday, high quantum activity in both the events did invite follow-up by the market men, however post execution of the deals the momentum failed to continue, thus forcing stocks to loose values at a high pace, wherein some managed to stay in positive territory, however stayed quite low from intra day highs. It further said that textile sector stocks, those duly found the support of respective groups kept the momentum alive, however adjustment benchmark due to sell-off in index heavy weights and various main board stocks, and capitalization of swapping opportunities, the momentum failed to continue, thereby forcing the feeble bulls to bow to technical recommendations suggesting correction, thus forcing the main board stocks in the red zone.