KARACHI - The stock market witnessed intense buying in oil, banking and telecom scrips on the last day of the trading week as the investors remained bullish ahead of December result announcements on expectations of record results for banks, fertilizer and oil & gas sectors. The 100-index opened in green zone with a gain of 39.29 points and closed at 9923.14 points with a gain of 120.69 points on turnover of 163.58 million shares. The KSE 30-index closed at 10491.54 after gaining 131.90 points. All shares index closed at 7025.46 with a gain of 82.27 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 204.825 million as compared to last trading sessions 163.105m. Future market volume, however, stood at 4.058m shares as compared to 2.771m shares of last trading session. Market capitalization stood over Rs2.850tr, as total trades increased to 117,059 as compared to last trading sessions 87,963, while 240 companies advanced, 132 declined and 14 remained unchanged. Highest volumes were witnessed in PTC at 31.792m (closed at Rs20.20) with a gain of Rs0.71 followed by FFBL at 14.402m (closed at Rs. 29.75) with a gain of Rs0.80, NCL at 9.398m (closed at Rs24.92) with a gain of 1.18. The news affected trading activities at the market as the KSE elected new chairman Zubyr Soomro. Fatima Fertilizer oversubscribed by 4.18pc and witnessed an overwhelming response from the high-net-worth individuals and institutional investors with a strike price of Rs14.10 per share; Demutualization process failed to take off as the Stock Exchanges Bill, 2008 was not tabled in the Senate in its current session. Moreover, SBP revises procedure for NCBs for the auction of Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs); oil usage up 15.3pc in 1st half of this year as the total volume of the POL products; and RBS announcement on bid for sale invited investor interest in MCB, HBL potential bidders. Hasnain Asghar Ali, a market expert, said although local corporate participants were cautious accumulators in previous and Fridays session, off-loading by some generally neutralized the impact of the activity; aggressive buying by local groups however pushed the likely sellers on the back foot. He anticipated that the stocks likely to reflect the gains registered by the bench mark, the stocks likely to benefit from gain or listing of strategic assets and the stocks likely to register onetime gains due to regulatory changes can be looked for placements, avoiding placements in the stocks carrying reservations till their corporate results are announced will prove prudent, as the numbers will allow the investors to re-assess the companys position, to some extent.