KARACHI - The KSE 100-share index once again recovered the lost glory on the last trading day of the week as it gained 63 points to close the equity market above 9,000 psychological level at 9,058 points on Friday. Strong buying activity was witnessed at the local bourse as foreign investors continued to accumulate blue chips in oil, banks and fertilizer sectors. According to NCCPL data, foreign players made a net investment of $2.03m on Friday (gross buy of $5.65m, gross sell of $3.62m). Research analyst Ahsan Mehanti at Shehzad Chamdia Securities stated that, rise in commodity prices including local cement prices, rising auto sector growth by 23.37 per cent YoY for first 2-month of 2009-10, record remittances of $780m in August and expectation of early resolution of circular debt issue played their role in positive activity at the KSE. The local bourse kicked-off in green numbers, adding 31.09 points and benchmark 100-index maintained the upward march till the end of the day, closing at 9,058.77 points with a gain of 62.58 points. Meanwhile, the KSE 30-index closed at 9,699.04 points with a gain of 39.45 points. Trading activity was minimal on Friday as the ready market volume stood below 200 million shares at 197.684 million as compared to last trading sessions 260.509 million shares. Total trading value of the stock exchange decreased to Rs 11.188b from Rs 15.960b of last session. Market capitalisation inched up to Rs 2.634tr as compared to Rs 2.619tr of last session, showing a gain of Rs 15b in just one trading session. Of 366 active scrips at the Karachi stock market, as many as 175 managed to advance, 170 declined while the worth of the shares of 20 stocks remained unchanged. Somehow foreign investment provided the much required stability at current levels. But the question is how long foreign investment will keep the market rolling. The question is that presently stock fundamentals of market support the market performance or not, expressed analyst Bilal Asif at HMFS. The unstoppable JSCL moved to top spot but selling pressure resulted in negative closing. All the E&P stocks turned positive with OGDC leading the sector as well as the market. Cement twins has been able to capture a place among the top ten stocks. NBP moved quite late as compared with its peers. JSCL was crowned as the volume leader of the day with a healthy turnover of 15.427 million shares, followed by cement giant DGKC with 14.846m shares, Lucky Cement 14.807m shares, OGDC 12.846m shares, AHSL 11.979m shares, JS Investment 9.793m shares, NBP 8.402m shares, Pak Oilfields 7.756m shares, Bank Al-Falah 6.783m shares, Pak PTA 5.992m shares namely. Leading gainers at the KSE include Rafhan Maize, up by Rs70/share to close at Rs1,470 with the trading of only 4 shares, Bata Pak added Rs45/share, closing at Rs980, Siemens Pak Engineering gained Rs43/share and its total value was improved to Rs1,206, Indus Motors up by Rs7.89/share and closed at Rs165.83, Pak Engineering closed at Rs218.48, after adding Rs7.10/share to its price. On the other side, Unilever Pak lost Rs22.39/share to close at Rs2290.00, National Refinery down by Rs8.02/share, closing at Rs219.20, Wyeth Pak lost Rs5/share and its value was decreased to Rs1,210 with the trading of only 10 shares, Al-Abbas Sugar down by Rs3.90/share and closed at Rs74.10, HBL closed at Rs118.79, after losing Rs3.17/share on Friday. Lot of stocks have already reached the intrinsic worth or predicted fundamental values. Keeping in view the stock valuations, it would be difficult for the market to reach the five-figure mark. Possibility of illogical bull-run cant be justified but such possibility cant be ruled out, Bilal Asif added.