Stock Analyst, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that the consecutive foreign selling since last some days caused the negative sentiments in the local bourse.

He said that despite that, there was positive sentiments still because of the rumors of conversion of Capital Gain Tax (CGT) into Tax on turn-over of shares ( Transaction of sales and purchase).

According to the circulating rumors in the local markets, the investors are expecting the visit of Dr. Hafeez Shaikh Finance Minister to Karachi Stock Exchange (KSE) in the next week and it is expected that the minister would announce the conversion of CGT into Tax on Turnover of shares.

Total volume of shares traded was 7,500, which was down by 15,830 as compared the closing of a day earlier.

Out of 100 companies' shares traded, the price of 36 was increased while the price of 64 decreased.

The price of top gainer Siemens Engineering was closed at Rs.811.37 with an increase of Rs.31.37 while the price of top loser Millat Tractor closed at Rs.373.78 with a decrease of Rs.4.43.

Fatima Fertilizer, Fauji Fertilizer Company (FFC) and Fauji Fertilizer Bin Qasim (FFBL) remained volume leaders on Wednesday, with volume of 5,500, 1,200 and 400 shares respectively.