KARACHI - Mixed activity witnessed at the local bourse as investors remained nervous over the outcome of Stock Members meeting on FED collection on broker commissions while the KSE-100 index managed to gain nominal 2 points to close at 7,025.89 points on Wednesday. The KSE-100 share index kicked-off positively on Wednesday with a gain of 1.57 points and kept the positive momentum alive till the end of the day, with a gain of 2.41 points. The hope of introduction of modified ready board leverage product was diminished as no official update is available from the committee working on the product. Accumulation in main board stocks, however, continued on dips thereby restricting the index from an extended adjustment and the index managed to stay above the psychological 7000 while block trades in low priced mutual fund and bank allowed the turnover to beat that from earlier session as the activity contributed 35 percent to the total turnover that was 20 percent higher, while traded value stayed 24 percent lower than previous session. Trading activity was fairly improved as compared to the last trading session. The ready market turnover inched up to 103.181mn shares against last trading sessions 86.428mn shares. Trading value of the stock market decreased to Rs2.654 billion from Rs3.566 billion of last session. Market capitalisation stood up to Rs 2.083tr against last sessions Rs 2.082tr. Of 297 actively traded companies at the KSE, only 119 companies managed to advance, 156 declined and worth of 22 stocks remained unchanged. Support from State run funds, strong investor interest in cement scrips and merger news for Mybank/ Askari Bank supported the oversold market throughout the trading session, said Ahsan Mehanti of Shehzad Chamdia Securities. Surprisingly, JS Growth was crowned as the volume leader of the day with a healthy turnover of 25.777 million shares. Other high-performing shares include MyBank with 11.195m shares, Lucky Cement 7.695m shares, DGKC 5.404m shares, Pak PTA 3.664m shares, AHSL 3.315m shares, HUBCO 3.142m shares, Pak Premium Fund 3.088m shares, JSCL 2.937m shares namely. Prominent gainers at the Karachi stock market include Nestle Pak, up by Rs49.36 and closed at Rs1,038 with a turnover of only 300 shares, Unilever Pak gained Rs47.74/share to close at Rs1,968.76, Bata Pak added Rs14.33/share and its value was improved to Rs630.50, Exide Pak up by Rs6.70/share and closed at Rs161.70, Pak Refinery Ltd added Rs3.80/share to close at Rs79.98, Searle Pak added Rs2.31/share and closed at Rs48.57. Conversely, Siemens Pak Engineering lost Rs22/share and closed at Rs1,025 with a turnover of 100 shares, Pak Services down by Rs6.50 to close at Rs126, National Refinery down by Rs5.08/share, closing at Rs216.08, Attock Petroleum lost Rs4.05/share and its total value was decreased to Rs313.36, Tri-pack Films lost Rs3.86/share and closed at Rs95.13, Thal Ltd lost Rs3.29 to close at Rs77.80. The issue of collecting the 16 percent FED was unsolved and proposals were given by the KSE board members to the finance ministry. A market source told The Nation that KSE directors have proposed that the stock exchange will collect the FED as like it was collecting the CVT. A proper mechanism is still sought to collect the Federal Excise Duty and there are legal complexities linked to this matter, said the source.