KARACHI - Buying activity was witnessed at the Karachi Stock Exchange after a gap of four trading sessions as the KSE-100 index gained 16 points on Friday. The statement from SECP to reinitiate the process to provide margin financing to the investor community turned out to be beneficial for the stock market as index recovered a little bit. But later, the selling pressure turned the index towards negative zone. Finally after the tug of war between bull and bear, the benchmark index closed the day after adding 16 points to the index with healthy volumes of 125 million shares. Despite few points gained the top ten stocks more or less remain in red. Moreover, renewed interest by retail/institutional investors in blue-chip scrips affected investor sentiment positively throughout the day. The KSE-100 index was positive in the opening, 3.44 points up and sustained the upward movement till the end of the day, closing at 6,894.62 points with a gain of 16.48 points. Trading activity was enhanced as compared to the last trading session while the ready market turnover increased to 125.067 million shares from 93.595 million shares of last session. Trading value of the market inched up to Rs 5.645b as compared to Rs 4.069b of last trading session. Market capitalisation stood up to Rs 2.045tr on Friday against last sessions Rs 2.040tr on Thursday. Out of 275 active companies at the Karachi stock market, 143 companies gained value, 120 lost while worth of the shares of 12 cos remained unchanged. SBP stance for sizable cut in policy rates in upcoming monetary policy announcement and Rs 621bn PSDP approval by NEC played a catalyst role for positive activity, said Ahsan Mehanti of Shehzad Chamdia Securities. The acquisition of RBS by JS Bank turned out to be a positive development as JSBL share closed on upper lock. E&P sector more or less remained muted with minute loss by OGDC and rest of the players gained some valuable ground. After almost six months, BoP declared its CY08 financial results where bank book hefty losses, the share price closed on a negative note. JSCL was the volume leader with a turnover of 20.245 million shares. Other well-traded shares include AHSL with 9.740m shares, MCB Bank 7.957m shares, NBP 6.224m shares, DGKC 6.130m shares, Adamjee Insurance 5.213m shares, OGDC 4.870m shares, BOP 4.850m shares, JS Bank 4.128m shares namely. Siemens Pak Engineering was among the prominent gainers, up by Rs47/share with the trading of only 100 shares, Attock Petroleum gained Rs8.36/share, closing at Rs310.54, Hinopak Motors added Rs7/share and closed at Rs157, PSO up by Rs6.33/share and its value was improved to Rs206.38, Exide Pak gained Rs6.17/share and closed at Rs129.67, Dawood Hercules added Rs5.90/share, closing at Rs134.53. On the other hand, GlaxoSmithKline Pak lost Rs6.45/share, closing at Rs132.28, Atlas Honda down by Rs6.14 and closed at Rs121, MCB Bank lost Rs4.49/share and its value was decreased to Rs137.94, Fazal Textile lost Rs4/share and closed at Rs391, Indus Motor lost Rs3.59/share, closing at Rs119, Adamjee Insurance lost Rs3.29/share and closed at Rs79.44, AKD Capital also lost Rs3.09/share and closed at Rs69.92.