KARACHI - Karachi Stock Exchange again witnessed buying spree on Monday amid different positive reports on the political and economic fronts. The KSE-100 index gained another 254 points and it edged up to 7,872.49 points on Monday. The KSE recorded a turnover of 399.67 million shares that involved an investment of Rs10.768 billion. The 100-index witnessed a low of 7,618 points and it touched the intra-days high of 7,908 points. Out of 405 companies active at Karachi stock market, the value of the shares of 245 companies increased, 149 companies declined while 11 companies value remained unchanged. The KSE-30 index gained 348.34 points and it increased to 8,586 points on Monday. Last weeks correction and news of record inflow of remittances and other positive political and economic developments encouraged the investors to take fresh positions in their shares of choice, a broker said. The market is going through the phase of improvement in the worth of the blue chips, which are still at very attractive level, he added. The volume leaders at the KSE on Monday were NIB Bank with 35.501 million shares turnover; Worldcall 27.222 million shares; Arif Habib Securities 16.928 million shares; Pervez Ahmed 15.51 million shares, Pak PTA 13.137 million shares, OGDC 12.935 million shares, Bosicor 12.258 million shares while 11.835 million shares of Bank Alfalah changed hands on Monday. The leading gainers of the day were: Pakistan Oilfields Ltd and its price increased by Rs8.33 per share, closing at Rs184.64. National Bank of Pakistan gained Rs5.06 and closed at Rs106.36. The value of the share of OGDC mounted to Rs81 with net gain of Rs3.15 while UBLs share edged up by Rs 2.39, closing at Rs51.83. Lucky Cement share gained Rs2.87 and it closed at Rs60.51. Similarly, Jahangir Siddiqui Company hit the upper lock by gaining Rs1.91 and closed at Rs40.21 while Arif Habib Security also gained Rs1.68 per share and it closed at Rs35.36. Stock market analysts said that the move of President Asif Ali Zardari to enforce the Charter of Democracy in view of PPPs understanding with PML-N coupled with strong news about inflow of remittances and growth in the foreign exchange reserves bolstered the buying spree at the stock market. So far both the parties, the PPP and PML-N, are moving forward with understanding and showing no major differences that was a good sign for the democratic set up and the economy as well, they said. The analysts believe that the KSE-100 index could settle near 9,000 points before the start of next financial year, from July 2009. They said that Moodys has under-estimated the current bullish sentiment and pattern of growth of the KSE. Moodys has stated that the KSE-100 index would settle at 9,000 points by December 2009, but the stock market observers say that the KSE would hit this benchmark in next few weeks.