KARACHI - Continuous selling from some counters brought market down by 125 points. Telecard witnessed heavy selling while stock closed 7pc down with 67m shares of volume. Engro Corporation also declined by 2pc with 16m shares exchanged hands, dealers observed here on Tuesday.

At local equity market benchmark KSE-100 share index misplaced 125.60 points or 0.70 percent to end the session at 17,894.90 points compared to 18,020.50 points of the last working day.

KSE-Allshare index decreased by 51.65 points or 0.41 percent to finish the day at 12,591.70 points, KSE-30 share index lost 122.44 points or 0.83 percent to close the day at 14,647.65 points while KMI-30 share index reduced by 137.10 points or 0.44 percent stop the trading at 31,024.15 level.

Experts said stocks closed bearish amid lower profit taking in stocks across the board, post major earnings announcements at KSE.

Falling global stocks and commodities, concerns for outcome of CCPs International Clearing House hearing notices to LDI operators for Supreme Court decision on LDI tariff in telecom sector, rising political uncertainty and pending OGDC gas sales agreement with fertilizer companies played a catalyst role in bearish sentiments at KSE post major earning announcements.

The day turnover of local bourse was 312.851 million shares contrasted to 322.298 million shares of previous session. On Wednesday value of traded shares was settled at Rs 9.880 billion compared to Rs 9.107 billion of a day earlier while the capitalisation of stock market maintained at Rs 4.459 trillion.

Trading took place in 357 companies where losers outnumbered the gainers 252 to 86 while the value of 19 companies remained intact. Unilever Pak and Nestle Pakistan were the top price gainers of day up Rs 300 to Rs 10850, and Rs 231.82 to Rs 5131.82. Massive downhill trend was noticed in Shezan Inter and Sanofi-Aventis Pak decreased by Rs 21.70 to Rs 412.30 and Rs 17.74 to Rs 337.26.

Active list was again topped by Telecard Limited with 67.359 million shares shed by Re 0.54 to Rs 7.42. Azgard Nine was on the second position with 19.258 million shares shed by Re 0.30 to Rs 8.29. It was followed by PTCLA with 17.856 million shares off by Re 0.26 to Rs 23.38, JS Co with 16.334 million shares decreased by Re 0.89 to Rs 17.85 and Engro Corporation with 15.981 million shares misplaced Rs 2.24 to Rs 111.59.