KARACHI - Heavy selling activity in the overbought market interrupted the upward movement of the Karachi Stock Exchange as the KSE-100 Index lost 66 points on Thursday. Moreover, exclusion of 8 Pakistan listed companies from DOW Jones SAFE 100 Index recomposition shocked the stock market investors in the country. The KSE 100 Index opened in the green zone with 26.84 points and at the end of the day it closed at 6,608.49 points by losing points. Total trading value of the market reduced to 8.894 billion rupees as compared to last session's 10.956 billion rupees. Trading activity was worst as the ready market volume decreased to 205.218m shares on Thursday as compared to last trading session's 262.884m shares on Wednesday. Market Capitalisation squeezed to Rs 1.986 trillion against Rs 2.005 trillion of last trading session. Out of 367 active stocks at KSE, as many as 237 declined, 121 advanced while the worth of the shares of only 9 companies remained unchanged. Highest volumes were witnessed in Nishat Mills with the trading of 15.795 million shares, National Bank 14.392 million shares, United Bank 11.978 million shares, DGKC 11.7 million shares, Jahangir Siddiqui 11.260 million shares, OGDC 9.707 million shares, Engro Polymer 7.902 million shares, NIB Bank 7.899 million shares, Pak Oilfields 6.007 million shares. Major gainers at the KSE include Siemens Pakistan and it gained 31 rupees/share, closing at Rs723 with the trading of only 300 shares on Thursday, Nestle Pakistan added 24.75 rupees/share and closed at Rs1160.76, Attock Petroleum closed at Rs288.78 with a gain of 8.84 rupees/share, Shell Pakistan gained 7.58 rupees and its value was improved to Rs230.81, Wyeth Pakistan also gained 7.57 rupees/share and closed at Rs1359.67, Pak Engineering added 6 rupees/share and closed at Rs156.50. Conversely, Bata Pakistan lost 33 rupees/share and its value was decreased to Rs637 with the trading of only 100 shares, Colgate Palm lost 12.53 rupees and closed at Rs280.44, Packages Limited closed at Rs183.52 losing 9.52 rupees, Lakson Tobacco lost 7.89 rupees, closing at Rs150.09, Pak Oilfields lost 5.17 rupees/ share and closed at Rs156.86, EFU General Insurance lost 4.78 rupees and closed at Rs90.91. Rally initiators capitalized on positive opening, jittery movement added to the pressure and the KSE-100 Index registered an adjustment of almost 100 points. Large cap stocks mainly OGDC and NBP however displayed strong resistance, having decent weight in the index. Recovery in the stocks disallowed the index to reflect the sentiment. Consolidation after initial slump invited new entrants mainly in the banking stocks, thus allowing the index to recover from red zone to positive. Day traders however came in for squaring up trades and towards the end, absence of buyers led to price erosion and despite various attempts the benchmark failed to register a positive closing and the index closed with negative numbers on board. "With political front likely to witness positive development over the weekend, whispers that judiciary may touch politically sensitive issues, and the gloomy situation on US drones and situation in the northern areas has however kept the local participants at 'on your marks' position, thus leading to short term trades", stated Hasnain Asghar Ali, a market expert. With economic horizon giving a refreshing view, expectations of economic and financial assistance from the donor countries and institutions have kept the liquid participants focused on the local bourses, thereby allowing the minor negatives emerging from other fronts to be ignored. Substantial decline in interest rates .i.e. to the tune of 300-350 bps over the period of six months can certainly allow the derailed economic engine a smooth run, a stimulus, needed to allow a thorough capitalization of resources available in the economy.