KARACHI - The stock market started the new fiscal year on a positive note as the KSE 100-index gained 109 points to close at 7,270 points amid cut in NSS rates that increased the demand for shares. Investors are hopeful that new fiscal year may prove to be worthy for investors and economic condition may improve, which may potentially develop a bullish sentiment and index could register positive returns, stated market expert Bilal Asif. Finally CVT has been removed and replaced with FED, systematic implementation is still questionable as the procedure of collection has not been finalised. But there is nothing to worry about, as it may not harm the investor community, he added. The KSE performed brilliantly from the opening, with a gain of 12.29 points and at the end closed at 7,270.72 points, adding 108.54 points. Trading activity was comparatively improved on Wednesday while the ready market turnover increased to 104.614m shares against last trading sessions 100.041m shares. Total trading value of the market inched up to Rs 4.919b from last sessions Rs 3.318b. Market capitalisation stood over Rs 2.150tr, showing a gain of Rs 30b in just one day. Of 302 active companies at the stock market, at least 177 companies advanced, 105 declined and the worth of 19 cos remained unchanged. More or less most of the mainstream stocks were back in action as top ten volume leader scripts include fertilizer, E&P, Financial sector and cement companies. OGDC crossed over the 80 thousand thresholds quite convincingly. Increase in oil prices turned out to be beneficial for oil marketing and refineries as PSO, SHELL, ATRL, PRL and NRL kept the bullish momentum and supported the index. DGKC was the volume leader of the day with a turnover of 9.319 million shares. Other noted shares were FFBL with 9.166m shares, Pak PTA 8.407m shares, OGDC 6.807m shares, Azgard Nine 6.163m shares, JSCL 5.858m shares, PTCL 4.023m shares, NBP 4.007m shares, AHSL 3.902m shares, Adamjee Insurance 3.790m shares namely. Prominent gainer at the KSE include Bata Pak, up by Rs14/share and closed at Rs605 with a turnover of only 100 shares on Wednesday, followed by Attock Petroleum, adding Rs13.24/share to close at Rs331.75, Fazal Textile gained Rs10/share and its value was improved to Rs365, National Refinery up by Rs7.75/share and closed at Rs227.77, Attock Refinery gained Rs6.23/share and closed at Rs131.02, Mari Gas Co added Rs6.01/share and closed at Rs154.84. Conversely, Exide Pak lost Rs8.05/share to close at Rs152.95, Shahtaj Sugar down by Rs4.90/share and closed at Rs93.10 with the trading of only 100 shares, Lakson Tobacco lost Rs2.02/share, closing at Rs165, Pak Services down by Rs1.72/share and its value was decreased to Rs104.31, Singer Pak lost Rs1/share and closed at Rs29, Al-Ghazi Tractor also lost Rs1/share to close at Rs161, PNSC lost Rs0.74/share and closed at Rs45.42. Moodys investor service optimistic outlook on Pakistan and record rise in cement sector exports according to exporters association and expectation of record payouts in upcoming result announcement session played a catalyst role in the positive activity, said Ahsan Mehanti of Shehzad Chamdia Securities.