KARACHI - Bearish activity continued with thin volumes on limited institutional and foreign interest amid uncertainty about next weeks monetary policy announcement, while rising political uncertainty and investors concerns over expected Government-Judiciary conflict also played a key role in the negative activity in the earnings announcement session. Oil sector remained sluggish on concerns over rising circular debt and liquidity crunch The KSE 100-share index closed at 9,866.80 points with the loss of 79.62 points. The KMI 30-index closed at 15,442.28 with the loss of 150.72 while the KSE 30-index closed at 9564.72 with the loss of 69.95 points. All Share index closed at 6896.12 points with the loss of 49.68 points. Trading activity was minimal as compared to the previous session as the ready market volume stood at 3.940 million as compare to previous volume of 5.085 million. Future market volume however stood at 3.142 million as compared to previous volume of 3.187 million. Market capital stood at 2.727 trillion. 131 companies advanced, 215 declined and 18 remained unchanged. Highest volumes were witnessed in PTCLA at 2.987 million, closed at Rs18.51 with a loss of Re0.20, followed by DGK Cement at 2.761 million, closed at Rs23.73 with a loss of Rs1.50, and Lotte Pakistan at 2.478 million, closed at Rs8.40 with a loss of Re0.18. The analysts said the observation from recent trading sessions that whenever there in an improvement in local sentiment due to likely availability of leverage, off-shore participants and local groups who have group companies listed at the local exchange come in as sellers have, certainly cautioned the local participants trading on their own views and analysis mainly in the stocks wherein offshore participants have stayed active and in companies held by financial groups. They added that although missed clarity regarding the technicalities of MTS and the tentative date for its implementations, between the lines it is assumed that since directors of KSE have agreed to work for demutualization, exiting board status will continue. Thereby, resolving the issue of removing non broker chairman, since there are no proposals on changes in already approved MTS it can be assumed that when implemented the sensitive regulation (exposure margins) will stay unchanged. They further added that based on above assumption cautious accumulation on dips may prove profitable, however due to high volatility on almost all the fronts and likely threat from inflationary pressures and local monetary stance, short term gains should be relied upon, until a long term economic plan is unveiled (if there is any).