KARACHI - The Karachi Stock Exchange (KSE) benchmark 100-share index on Wednesday lost another 137.39 points, or 1.40 percent, and closed at lower at 9,686.18 points on uncertainty about who the new finance minister would be and investors concerns over new taxes on capital markets. The KSE 30-index closed at 10070.68 with a loss of 169.15 points. The KMI 30-index closed at 14283.12 with a loss of 188.07 points. All shares index closed at 6871.61 with a loss of 96.74 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 138.960m as compared to last trading sessions 171.670m. Future market volume, however, stood at 2.811m shares as compared to 3.496m shares of last trading session. Market capitalization stood over Rs2.784tr, as total trades decreased to 77,329 as compared to last trading sessions 99,632, while 103 companies advanced, 269 declined and 19 remained unchanged. Highest volumes were witnessed in JSCL at 17.967m closed at Rs24.57 with a loss of Rs1.28 followed by SEPCO at 10.905m closed at Rs4.80 with a gain of Re0.42, AHSL at 8.166m closed at Rs47.62 with a loss of 2.50. Ahsan Mehanti at Shehzad Chamdia said, Resignation of Finance Minister, resignation of SECP commissioner, continuing foreign selling, fall in global capital markets and correction in global commodity prices played a catalyst role in the negative activity despite strong results announcement by the OGDCL. The news that affected the trading activities at the market were: KSE members briefed on CGT implementation; Pakistan has to implement IMF programme; PSO to cut PIA fuel supply from March 1; and SBP declares PIAC Sukuks approved security. Moreover, the rupee drifted lower against dollar on the local currency market on Tuesday as importers were trying the cover the forward buying to meet the payment requirements. The results witnessed year-on-year decline in revenue and in payouts due to financial constraints and various other reasons, besides increase in exploration charges justified the reservations held in some stocks. Hasnain Asghar Ali, a market expert, said, 'Being cautious and selective in identifying stocks for both short and long term is essential in the prevailing scenario, since issues offering resistance will continue to outnumber those can allow the local bourse. Stocks trading at higher multiples and offering low yields are likely to face off-loading on strength, and under pressure, index heavy weights will add to the grievances of the local bourse, he added.