KARACHI - The bulls strengthened their rule on the local bourse on Friday while the volumes also improved amid hopes that margin buying would soon be reintroduced in the market. A meeting of the stakeholders to discuss margin buying and other leveraged products took place on Thursday, and continued on Friday as well, and a decision was expected soon. The Karachi Stock Exchanges benchmark 100-share index, which opened in the green zone with a gain of 22.48 points, closed at 9,974.40 points after gaining 113.41 points. Turnover rose to 102.75 million shares from 77.94 million shares traded on Thursday. Dealers said another meeting was held between exchange officials and tax authorities on Friday to discuss the modalities of a new capital gains tax imposed from July 1, though no decisions were yet taken. The absence of margin buying and the capital gains tax had hurt market sentiment in recent days, with volumes falling to their lowest in 18 months more than once this week. The KSE 30-index closed at 9832.92 with a gain of 92.33 points. The KMI 30-index closed at 15053.27 with a gain of 195.39 points. All shares index closed at 6990.24 with a gain of 77.30 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 102.747m as compared to last trading sessions 77.941m. Future market volume however stood at 5.129m shares as compared to 2.914m shares of last trading session. Market capitalization stood over Rs2.804tr. Total trades increased to 63,480 as compared to last trading sessions 58,303. 243 companies advanced, 115 declined and 19 remained unchanged. Highest volumes were witnessed in DGKC at 8.001m, closed at Rs26.82 with a gain of Rs1.27, followed by BYCO at 7.400m, closed at Rs. 11.97 with a gain of Re0.52, and JSCL at 6.219m, closed at Rs12.95 with a loss of Re0.09. The analysts said, the bull-run continued for the third consecutive session, although outcome of leverage meeting is still outstanding, the thirsty locals on back of off-shore participation, approval of $6.2 billion loan by WB. They said an across the board activity, bullish activity, stayed part of the local bourse, wherein the off-shore participants were buyers in index heavy weight and selected main board stocks, whereas the resident participants accumulated stocks having potential of rising substantially, provided local strength is given boost, that stays at the mercy of the regulators, in charge of deciding upon re-introduction of the desired product. They informed that the mid tier and main board stocks mainly in the cement and fertilizer sectors invited local activity, thereby, allowing the turnover to stay on a higher side, despite that, turnover failed to join the momentum. They said the early gains however did faced adjustment, thus making the 100 day M A 9979 a major resistance, as mainly the weak-holders those constituted triple digit gains were looking for an exit, despite positive vibes from the leverage meeting that was in progress, outcome of meeting with FBR representatives clearly disappointed, the local participants, as was evident from the painting that was displayed in the second session. They further said nevertheless improvement in turnover numbers and in value of traded shares is a good-omen, thus clearly indicating improvement, provided timely launching of a flexible ready board leverage product, in case of a delay or introduction of complicated and product, the desired strength might not be attained, thus restricting the upside with support from the off-shore funds, and allowing various economic and political issues to empower the fundamentals.