KARACHI - Foreign buying and easing up of political tensions amongst the coalition partners rescued the sinking values and turnover at the local bourse, with Oil and Gas Development Co. Ltd. (OGDCL) in the limelight following an increase in well-head gas prices in one of its field. The Karachi Stock Exchanges benchmark 100-share index, which opened in the green zone with a gain of 55.43 points, ended 1.48 percent, or 142.10 points, higher at 9,769.73 on turnover of 208.95 million shares. OGDCL, the heaviest weighted company on the KSE, ended 1.79 percent higher at 116.99 rupees. On the other hand, the KSE 30-index closed at 10176.92 with a gain of 149.93 points. The KMI 30-index closed at 14435.64 with a gain of 259.37 points. All shares index closed at 6926.67 with a gain of 99.79 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 297.644m as compared to last trading sessions 147.696m. Future market volume, however, stood at 3.686m shares as compared to 1.930m shares of last trading session. Market capitalization stood over Rs2.810tr, as total trades increased to 126,290 as compared to last trading sessions 84,686, while 256 companies advanced, 124 declined and 22 remained unchanged. Highest volumes were witnessed in LPCL at 29.573m closed at Rs4.62 with a gain of Re1.00 followed by WTL at 28.315m closed at Rs4.60 with a gain of Re0.81, LOTPTA at 20.849m closed at Rs11.31 with a gain of Re0.28. Ahsan Mehanti at Shehzad Chamdia said, Rise in well head gas prices announcement by OGDCL, resolution of deadlock between PPP/MQM negotiations on political conflicts played a catalyst role in the positive activity. Some news affected the trading activities including Ogra officials explain rise in POL prices; 2010-11 budget blueprint to have four new measures: FBR starts issuing audit notices to E&P companies; and diesel, furnace oil imports drop in Jan. The announcement of increased well head prices for previous couple of years, that will have an impact on the earnings of Qadirpur fields operators, allowed the index heavy weight OGDC to lead the run, which was duly followed by other sector stocks. Hasnain Asghar Ali, a market analyst, said, 'caution stays the call in the expensive main board stocks, at least till the quarterly figures are released, that will to some extent allow the future course of earnings and dividend stream, while stocks those have stayed consistent and those which carry speculative tendency can be accumulated at prevailing levels and on dips for both trading and placements. The companies that reflected highest increase in their rates were Unilever Pakistan that gained Rs 27.49/share to close at Rs 3044.39 and Treet Corporation with the gain of Rs 17.22/share with the close of Rs 361.69. On the other hand companies like Nestle Pak had decreased Rs 20/share with the close of Rs 1150 and Siemens Pak Engg. lost Rs 19.56/share to close at Rs 1311.05.