The benchmark KSE-100 on Friday lost 16.64 points to close at 16,808 points. It also hit ever highest level of 16,903.98 points in intraday trading and a low level of 16,787.89 points. The Karachi stock exchange, on the last trading day, hit a record high level of 16,900 points in intraday trading, but settled lower as investors preferred booking profits in cement and banking sectors. The market opened in green zone and during the first half with an increase of 80 points. KSE-100 index also crossed 16,900-barrier, however in the second half, market could not sustained the ever highest level followed by selling pressure and profit taking in selected sectors. Analysts said that index down because of technical adjustment and off-loading in the cement sector turned loud in the closing half of the session. "Institutional profit-taking was seen in overbought stocks after the index crossed 16,900-level during the trading session," they added. However, banking stocks maintained green numbers, since besides expectation of high payouts during yearly announcement, they said. Overall 313.427 million shares were traded at ready counter as compared to 257.727 million a day earlier. Market capitalisation registered an increase of Rs 13.55 billion to Rs 4.217 trillion from Rs 4.204 trillion. Among top 10 leading scrips, Lotte Pak PTA was the volume leader as its some 59 million shares were traded, while its share price increased by Re 0.86 to Rs 8.19. With 25 million turnover, the share price of Azgard Nine closed at Rs 8.89, up by Re 0.19 per share. Some 21.89 million shares of PIAC were traded and it gained Re 0.43 to close at Rs 4.01. The share price of Jah Sidd Co was down by Re 0.9 to close at Rs 17.65 with 13.38 million shares. With trading volume of 12.58 million, the share price of Fauji Cement declined by Re 0.07 to Rs 6.73 per share. The share price of Maple Leaf Cement and Byco Petroleum was down by Re 1 and Re 0.39 to close at Rs 13.43 and Rs 11.27 with 11.6 million and 11.03 million respectively. Some 10.28 million shares of NIB Bank were traded on Friday and its share price gained Re 0.10 to Rs 2.48. Share price of DG Khan Cement declined by Re 0.62 to close at Rs 54 with 8.5 million turnover. National Bank of Pakistan lost Re 0.31 to Rs 50.57 with trading volume of 5.76 million shares. Nestle Pakistan Ltd and Colgate Palmolive were the highest gainers and increased by Rs 155.85 and Rs 69.86 to Rs 4,800 and Rs 1,467 respectively. While, Unilever Food and Unilever Pak were the worst losers and declined by Rs 152 and Rs 150.98 to close at Rs 4,138 and Rs 9802.47 respectively. Hasnain Asghar Ali, Chief Operating Officer (COO) of Escorts Capital said that the index underwent a technical adjustment, while speculations linked to monetary stance in the expected policy review kept various participants puzzled, the value stocks invited renewed accumulation on intraday lows, thus restricting the technical correction from converting into a bearish spell. He said that led by Lotte and ANL both on likely growth expectations, former due to meeting of the President with the group high-ups during Korean visit while latter on a much lighter debt portfolio after strategic sell-off. "The local equity markets continued to invite decent turnover that stayed well above 300 million mark, profit-taking that triggered in various frontline stocks, after yet another intra-day high, kept the benchmark in red zone, he added. Expectations of lenient view on minimum deposit rate that may add extra value to the banking stocks kept fresh flow coming even on strength, while gains in E&P stocks restricted any major loss on the benchmark, Hasnain said.