KARACHI - Sentiments remained upbeat in the equity market on Wednesday as the benchmark KSE 100-share index gained 0.6 per cent or 65 points to close at 10,571 points. After a negative closing in the last two sessions, the market Wednesday opened on a positive note and remained bullish throughout the day. A report issued by the ADB, wherein, it expressed concerns over Pakistans fiscal deficit and power shortages, did not stir any panic in the market. TRG was the volume leader as rumours pertaining to the sell-off of its international operation floated in the market and it closed 18.2% up. ANL closed on its upper circuit breaker at Rs15.54 - up by 6.9%, as investors got confident about debt problems being resolved smoothly. Volumes in the ready market stood at 281m shares, though no blue chip item was amongst the top five volume leaders. The top five volume leaders were TRG (50.8m shares), WTL (46.8m shares), SILK (27 1m shares) ANL (18 9m shares) and TELE (17 8m shares) respectively. Volumes also witnessed boost as 280m shares were traded during the day with 60 percent emanating from top five volume leaders alone, all of them representing third tire. Foreign investors were also active, although the fervor seemed curtailed and highly selective. Amongst the oil and gas sector scrips, OGDC closed in the red zone, which marred overall indexs performance, whereas, PPL and POL mirrored the KSE 100-index. Dividend plays FFC and HUBCO along with leading banking sectors namely NBP, MCB, HBL, mocked the benchmark indexs performance. Continued flows from FIIs is strengthening the performance, however, reluctance depicted by the locals remain worrisome. As highlighted previously, upcoming result session may provide necessary impetus for further upturn. The upcoming result season and various issues on economic and political front linked to judiciary, however, kept the in-coming float cued up on strength; therefore, strategy of being selective and calculative was quite prominent, snap rallies in various main board stocks with low quantum did create current during the closing hour. Hasnain Asghar Ali, a market analyst, said, Some of the stocks inviting volumes and registering gains have the potential, genuine growth story and likelihood of a turnaround attached, while some gaining momentum are in deep losses, some have book value in negative double digit, caution is recommended, at the end of this passing the parcel game those who will get stuck will ask for mercy, better safe than sorry.