KARACHI - The stock market continued to remain under selling pressure as KSE-100 index shed 7.13 points on Wednesday. The index traded mostly in a negative territory throughout the day but lately recovered to close at 7,060.72 points. Market did breach the 7,000 mark and made a low of 6,981 points, however, recovered the lost footing later in the day. Importantly, state run funds played a major role in Capital Market support throughout the day. Yet again it was a dry day in terms of volumes is concerned. Rumours related to change of trading time and T+1 settlement were unable to change investors sentiment, expressed Bilal Asif. Out of 310 actively traded stocks, merely 20 stocks recorded over a million shares volumes. Wednesdays average volume was substantially lower as compared with year to date average daily volume. Surprisingly out of top ten volume leaders, two stocks did gain substantial ground and hit the upper circuit breaker along with DGKC and PAKRI. Top tier stocks moved slightly downwards and upwards to retain its price at sustainable levels without any major change. Trading activity was better on Wednesday as compared to the last trading session. The market volume increased slightly to 80.422 million shares as compared to last trading sessions 75.072 million shares. Total trading value of the market raised to 3.957b rupees against last sessions 3.706b rupees. Market Capitalization came down to Rs 2.096tr from Rs 2.106 of last trading session. 100 companies at the Karachi stock market advanced, 197 declined and 13 remained unchanged. JSCL once again was the volume leader with the trading of 9.343 million shares. Other noted shares include DGKC with 7.103m shares, Adamjee Insurance 4.557m shares, Lucky Cement 4.404 million shares, Arif Habib Securities 3.431m shares, FFBL 3.367 million shares, Bank Al-Falah 3.298m shares, OGDC 3.034m shares namely. Prominent gainers include Pak Engineering and it gained Rs8/share with the trading of only 100 shares on Wednesday, Atlas Honda added Rs4.02/share and closed at Rs84.61, Adamjee Insurance up by Rs3.72/share and its value was improved to Rs80.75, ICI Pakistan added Rs2.34/share and closed at Rs127.30, Mari Gas Company up by Rs2.13, closing at Rs145.77, Pak Petroleum closed at Rs171.52, up Rs2.10/share. On the other hand, Bata Pak lost Rs33.25/share and closed at Rs631.75, Siemens Pak Engineering lost Rs19.87/share and closed at Rs924 with the trading of only 200 shares, Service Industries lost Rs5.16/share and closed at Rs106, Exide Pak down by Rs4.91/share and its value was decreased to Rs110.10, KSB Pumps also lost Rs4.91/share and closed at Rs93.34, Millat Tractors lost Rs3.35/share and closed at Rs277.90. The only issue bothering the local bourses is low turnover which is a result of elimination of ready board leverage. Although various issues on economy, unnecessary threat from budget and post result season can also be blamed for reduction in turnover, the prevailing levels of turnover however spell out something beyond and that is need for ready board leverage. Previously, even after elimination of CFS index did witness high turnover up to 400 million.