KARACHI - The overbought market edged lower on Tuesday after the SBPs report indicated rising fiscal deficit at 6.3 per cent of GDP in FY10 and forecast lower GDP growth to 2-3 per cent. The KSE 100-share index closed at 10,658.15 points with a loss of 45.56 points. Thr KSE 30-index closed at 10239.39 with the loss of 58.15 points. The KMI 30-index closed at 16801.97 with a loss of 112.66 points. All shares index closed at 7422.34 with a loss of 30.92 points. The trading activity was minimal as compared to the last trading session as the ready market volume stood at 15.06 million as compared to last trading sessions 15.80 million. Future market volume however stood at 4.76 million shares as compared to 6.52m shares of last trading session. The market capitalization stood over Rs 2.919 trillion. As many as 148 companies advanced, 242 declined and 13 remained unchanged. Highest volumes were witnessed in Lotte Pakistan PTA at 20.91million, closed at Rs.10.16 with a loss of Re. 0.27, followed by Azgard Pakistan at 15.87 million, closed at Rs. 11.61 with a loss of Re. 0.13, and Lafarga Pakistan at 9.17 milion, closed at Rs.2.92 with a gain of Re. 0.52. Ahsan Mehanti said that investors remained concerned over the rising circular debt in energy sector. He said that limited foreign interest, institutional profit taking and uncertainty over implementation of MTS played a catalyst role in negative activity despite good earning announcements in blue chip oil, chemical sector scrips. Hasnain Asghar Ali said that sell-off that was quite evident towards closing stages of previous session continued on opening, wherein main board stocks faced off-loading from local corporate corridors, the stance of post result sell-off added to the pressure, buyers on intervals, therefore, stayed nervous mainly due to off-loading reported from off-shore accounts, in high priced stocks. He added that nevertheless the textile sector stocks continued to invite decent turnover and register gains, mainly on back of higher earnings expectations (likely to reflect the impact of weaker local currency) and support by local financial groups and sponsors of the respective companies gaining ground, while strategic sell-off in ANL allowed the stock to lead the run-up in terms of turnover. He further said that snap rallies in various stocks during the day although failed to sustain throughout the session, the moves kept the smart traders on top of their heels, as they tried to capitalize the volatility. He further added that unclear stance of the local banking chiefs regarding implementation of SCs directives and swapping strategy in banking stocks from leading large caps to comparatively lower tier stocks kept the main board stocks of the sector under pressure.