LAHORE - The share values in Karachi stock market tumbled on Thursday trading after renewed war threat by Indian army chief General Deepak Kapoor who said 'New Delhi was keeping its "options open" over the Mumbai attacks'. Resultantly, bourse shed further 4.5 per cent capital as investors and brokers panicked and they remained busy in selling their holdings. Currently, the launching of the government's much-awaited marketing supporting fund is failed to give the require results in country's stock markets. The Karachi Stock Exchange's benchmark KSE-100 index lost 272.58 points to close at 5,778.58. Volume remained at 122.11 million shares. With this flaking, the bourse at the end of the session could not retain the limit of psychological barrier of 6,000 points. According to the news, India's army chief said that while he regarded the war as a "last resort", the current situation meant that "we in India are keeping all our options open and that must be clearly understood." While government of Pakistan described the comments as "most unfortunate". Analysts and brokers are of the view that Indian Army General's remarks were the main reason for the market's downward escalating. "His announcement promoted negative sentiment in the market and made local investors worried," they said adding that foreign investors were continuing to flee the Pakistani market. Foreign investors withdrew 440 million dollars of a total of $1.8b in holdings from the KSE in 2008. While on the other hand at Mumbai, stock market fell 3.45 per cent, not for the fear of war but due to reacting to weak US markets falling on an unrelenting flow of bad economic and corporate news. The benchmark 30-share Sensex index fell 323.75 points to 9,046.74. The market opened for the year having lost 37 percent of its value in just two weeks. On December 15, regulators had removed a "floor" imposed in August to stop heavy losses on the KSE-100. But shares rebounded Tuesday after the state-owned National Investment Trust launched its State Enterprise Fund (NIT-SEF) in a bid to prop up the market. The entity, which is funded by state institutions and a consortium of banks, plans to invest rupees 20b ($250m) in eight selected stocks and then resell the shares to overseas Pakistanis. It is pertinent to note that foreign investors withdrew $440m of a total of 1.8 billion dollars in holdings from the KSE in 2008. Traders in LSE are opined that that even the pouring of market supporting fund announced by Shaukat Tarin would not help to boost the market as KSE has not value more than 5,000 points as no new industrial units were set up in the country in the past decade rather most of the industrial units had been closed and more are in the line to close due to outage of gas and electricity. When there is no strong base of industry in country, how traders would prefer to invest their live savings in the stock markets rather they are purchasing real estates in Europe and Gulf countries, they added. Today, in KSE market 26 scrips recorded gain, 211 landed in the negative column and 39 scrips remained unchanged out of a total of 276 cos. Meanwhile, the KSE-30 index also landed into negative column and shed meagerly 307.58 points wrapped up at 5510.47 points while KMI-30 index also lost 358.16 points closed at 7249.46 points. On Thursday at KSE, volumewise leader remained Oil and Gas Dev shares. On the other hand, LSE shed 90.03 points and wrapped up at 1599.57 points. At KSE, Oil and Gas Dev being a wolumewise leader lost its value of Re 2.73 closed at Rs 52.00 with volume of 9,138,500 shares followed by WorldCall Telec which also lost its value of Re 0.41 closed at Rs 3.52 with volume of 8,163,500 shares while Pak PTA also landed in the negative column and shed its value of Re 0.41 closed at Rs 2.08 with volume of 7,761,000 shares traded. NIB Bank, Pak Petroleum Ltd and TRG Pakistan also lost their values of Re 0.68, Rs 7.20, and Re 0.32 closed at Rs 5.03, Rs 138.07 and Rs 2.44 with volumes of 5,545,000, 5,516,700 and 5,376,500 shares respectively. However, Fauji Cement, Sui Northern Gas Pipe and GS Growth landed in advance section and gained Re 0.10, Re 0.38 and Re 0.02 closed at Rs 5.21, Rs 29.07 and Rs 2.62 with volumes of 3,501,000, 2,182,000 and 1,453,500 shares respectively.