KARACHI - The stocks on Wednesday rose to their highest close in two months, buoyed by buying in the banking sector, especially in National Bank of Pakistan (NBP). Expectation of early approval of leverage products by SECP and rising global equity markets also played a key role in the positive activity. The KSE 100-share index, which opened in the green zone with a gain of 22.68 points, closed at 10,187.00 after gaining 72.35 points, its highest close since May 14. Volume rose to 121.26 million shares, compared with 67.97 million shares traded on Tuesday. Increased investors interest kept the market in the positive territory throughout the day with healthy volumes and investors shifted their interest into the banking sector. NBP ended 4.99 percent higher at 68.54 rupees. The KSE 30-index closed at 10078.50 with a gain of 77.24 points. The KMI 30-index closed at 15362.51 with a gain of 43.91 points. All shares index closed at 7132.99 with a gain of 48.86 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 121.264 million as compared to last trading sessions 67.917 million. Future market volume however stood at 5.894 million shares as compared to 3.346 million shares of last trading session. Market capitalization stood over Rs2.862tr. Total trades increased to 78,224 as compared to last trading sessions 54,323. 246 companies advanced, 133 declined and 25 remained unchanged. Highest volumes were witnessed in LOTPTA at 18.046 million, closed at Rs8.87 with a gain of Re0.34, followed by NBP at 6.695 million, closed at Rs68.54 with a gain of Rs3.26, and DGKC at 6.228 million, closed at Rs28.16 with a gain of Re0.16. The analysts said the statement by the SECP dignitary stating likely approval of the proposed leverage product by Friday kept the bulls rolling. They said although the salient features are yet to be made public, the resident participants seem to have started revaluing the rates of the main-board and some mid-tier stocks, thereby allowing the index to continue the momentum with substantial improvement in turnover. They said that despite sound echoing foreign selling, technically however 10200 did invite profit-taking from some quarters dips however re-invited consolidation and the index sustained positive numbers for most of the session. They said although it may seem a bit predictable, certainly its not the feature of the equity markets to be predictable, the valuations are still at discount if the colour of a flexible and desired leverage product is added. They added that in case the product introduced is expensive or complicated it might not become a trigger and stay as a supporting tool, even if the product is in accordance to the expectations and demands. They said those who have stayed initiators are likely to come in for profit-taking, while in case the leverage participants decide to enter the gora favorite stocks with the support of leverage, the foreigners might capitalize of exit opportunity. They said the high interest rate environment, likely to persist for a while, with government borrowing persistently on the higher side, so is the pressure on inflationary numbers, and weaker local currency along with various political and inter-provisional matters, carry the potential of restricting the movement at the local bourse.