KARACHI - Bulls dominated the oversold market on Monday as KSE 100-index gained 182 points or 2.43 percent to close at 7,645 points. Powerful buying activity was witnessed as the market participants awaited opening up of future deliverable contracts. Concerns on release of third tranche by IMF restricted the local bourses movement initially. The unconfirmed news regarding likely approval of margin financing and deliverable futures in the BOD meeting of KSE board on Tuesday kept the sentiments high in the main board stocks. The KSE 100-index kicked-off the day with a strong sign of improvement, gaining 27.17 points while the index closed the day at 7,684.65 points with a gain of 181.99 points on Monday. Trading activity was remarkable as the ready market volume stood up to 194.695 million shares as compared to last trading sessions 124.832 million shares. Total trading value of the market inched up to 8.866b rupees against 4.071b rupees of last session. What fuelled the bulls was the release of list of the stocks likely to make it to the deliverable future counter; the impact was then massive as both the benchmark and turnover witnessed tremendous gains. With development on leverage leading the show despite parameter of selection unknown and number of stocks as low as 10, upcoming events monetary and trade policy kept the seasoned participants charged. Although likely decline in discount rates is linked with approval for release of third tranche, the local equity market sustained gains through out the session. Market capitalisation increased to Rs 2.259tr from Rs 2.209tr of last session, showing a solid gain of Rs 50b in just one trading session. Out of 311 actively traded symbols at the Karachi stock market, as many as 200 advanced, 96 declined and the value of the shares of 15 cos remained unchanged. Cement giant DGKC was the volume leader of the day with a healthy turnover of nearly 20 million shares on Monday, followed by JSCL with 13.841m shares, OGDC 12.4m shares, Fauji Cement 9.779m shares, Lucky Cement 9.597m shares, Pace Pak 7.602m shares, Engro Polymer 7.554m shares, Kohat Cement 6.724m shares, NBP 6.266m shares, AHSL 6.061m shares namely. Top gainers at the KSE include Attock Petroleum, up by Rs14.15/share to close at Rs347.03, PSO gained Rs8.14/share, closing at Rs242.18, MCB Bank added Rs7.97/share and its value was improved to Rs167.42, Exide Pak up by Rs7.24/share to close at Rs154.54 with the trading of only 300 shares, Attock Refinery added Rs6.89/share and closed at Rs144.87, Treet Corporation gained Rs6.73/share to close at Rs269.98. On the other hand, Nestle Pak lost massive Rs51/share to close at Rs980 with a turnover of only 100 shares, Wyeth Pak down by Rs39.99/share, closing at Rs1,230, Lakson Tobacco lost Rs5/share and closed at Rs171, Pak Engineering down by Rs3.83/share and its value was decreased to Rs169.67, Shell Gas lost Rs3.06/share to close at Rs61.67, Zulfeqar industries down by Rs2.36/share and closed at Rs51.64. Expectation of reduction in discount rates in monetary policy announcement next week and optimism over record result announcements in cement, fertilizer and oil scrips kept investors take long positions in stocks, expressed research analyst Ahsan Mehanti. With the potential much higher both on gains and turnover, materialisation of the unofficial development will allow the index to continue the momentum, it is, however, recommended to stay focused on the main board stocks having consistent dividend stream, stated Hasnain Asghar Ali of Aziz FidaHusein.