KARACHI - The stock market ended higher on Monday after positive remarks by the World Bank and Indias move for a resumption of talks with Pakistan but dealers said volume was low as investors were cautious. The bourse opened on a negative note but the market soon recovered when OGDC, the main index item, continued to gain investor interest from the last trading session. 6.6mn shares were traded in OGDC, when its price touched Rs120.65 (3pc up from last close) during the day. The Karachi Stock Exchange benchmark 100-share index, which opened in the red zone with a loss of 14.74 points, was up 0.41 percent, or 40.25 points, at 9,809.98 on turnover of 122 million shares. On the other hand, the KSE 30-index closed at 10209.42 with a gain of 32.50 points. The KMI-30 index closed at 14496.10 with a gain of 60.46 points. All shares index closed at 6955.16 with a gain of 28.49 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 182.215m as compared to last trading sessions 297.644m. Future market volume, however, stood at 2.177m shares as compared to 3.686m shares of last trading session. Market capitalization stood over Rs2.821tr, as total trades decreased to 88,904 as compared to last trading sessions 126,290, while 190 companies advanced, 186 declined and 24 remained unchanged. Highest volumes were witnessed in LPCL at 31.099m closed at Rs4.05 with a loss of Re0.57 followed by FCCL at 8.338m closed at Rs7.41 with a gain of Re0.22, BYCO at 7.577mn closed at Rs. 14.89 with a gain of Re0.97. Ahsan Mehanti at Shehzad Chamdia said local investors remained bullish on expectation of strong result announcements despite security concerns in the country and fall in global commodity prices, while foreign interest in oversold scrips, resumption of Indo-Pak dialogue process and expectation of early introduction of leverage products in the market played a catalyst role in positive activity at the KSE. The major effect on the market was of foreign investment as last week foreign investors remained on the buying side since they bought shares worth $17.16 million and sold share valuing $12.36 million, net buyers in the previous week with net investments of $4.79 million. Some news affected the trading activities like over 800 sales tax auditors/senior auditors would go on countrywide strike from Monday (today) against the prolonged delay in their promotions within the new organizational structure of the Inland Revenue Service (IRS); the Pakistan Credit Rating Agency (Pacra) has assigned a stability rating of 'AA (f) to Atlas Money Market Fund (AMF); and the rupee, somehow, managed to recover modestly against both dollar and euro during the week ended on February 6, 2010. Hasnain Asghar Ali, a market expert, said declining trend in international oil prices will support economic numbers, while negative for oil and gas exploration companies.