KARACHI - The Karachi stock market posted losses in shares trading Wednesday on thin volume. Bearish activity frequently witnessed at the local equity market as investors were anxiously waiting about the approval of margin trading system from the apex regulator, Security and Exchange Commission of Pakistan (SECP). The benchmark KSE 100-index closed lower at the level of 12,299.28 and declined 61.66 points or 0.50 per cent. The index had closed at 12,360.94 level on Tuesday. Volumes sharply dropped to 72.28 million shares versus 94.35 million shares traded previously. According to daily market report, KSE total capitalisation stood at Rs3,328.61 billion or $39.06 billion while trading value came at Rs2.57 billion or $30.11 million, respectively. The report stated that KSE-30 index ended lower at 11,930.39 points, down 0.62 per cent or 73.88 points. KSE future volume recorded at 2.62 million shares and its value registered at Rs335.82 million with a spread of 10.64 per cent. "Institutional profit-taking continued in scrips across the board on concerns for US-Pakistan bilateral relations on release of Raymond Davis and as foreign interest shy away from emerging markets on political unrest in Egypt despite record earnings announcement by Pakistan State Oil," said Ahsan Mehanti, Director Arif Habib Investments Limited. According to market expert, low volume sell-off led by melt down in the values of the main board stocks, saturation point and prolonged stagnation exhausted the market men, mainly those exposed in high priced stocks, absence of buyers on intervals and gloomy horizon on almost all the sensitive fronts, left the investors with no option but to sell at available market levels, thereby forcing the benchmark to melt at higher pace, in post midday trade. He said accumulation in dividend yielding stocks along with textile exporting concerns coupled with short covering towards the end along with low volume price influx in expensive stocks restricted the index down side, while despite substantial volume contribution by low priced and mid-tier stocks turnover stayed on lower side. With reservations on launching and regulations of the long awaited leverage intact, the market men looked least interested in reacting on rumors regarding launching date of the product; absence of triggers thereby disallowed any adventure, dividend yielding stocks and various mid-tier and low priced stocks.