KARACHI - Positive activity was witnessed in the Karachi stock market on Friday and the benchmark 100-share index closed with a gain of 22 points, at 10,431.84. All shares index closed at 3,319.880 with a gain of 15.57 points. Analysts said positive activity was witnessed on institutional and foreign interest in Pakistan banks, fertilizer and banking scrips ahead of major earning announcements next week. Cement sector remained in the limelight as UN approves $1.88b rehabilitation, reconstruction for Pakistan. Lotte Pakistan PTA was the volume leader with 24.193 million shares and closed at Rs9.62 with gain of Rs0.31 followed by Pace (Pak) Ltd with 13.508 million shares closed at Rs2.99 with a gain of Rs0.25 and NML with 7.034 million closed at Rs50.68 with gain of Rs0.68. Expectation rise over the pledges in international donors meeting in Brussels for fighting terrorism and rebuilding after Pakistan floods and higher international oil prices close to $83 played a catalyst role in positive activity at KSE despite concerns for rising political-judiciary conflict in NRO case hearings & rising circular debt in Pakistan Energy sector, said analyst Ahsan Mehanti. Hasnain Asghar Ali at Aziz Fidahusein said that OGDC kept the benchmark in search of new high in recent times Last day squaring-up did offer resistance to the positive opening, the main board stocks faced off-loading mainly by the local corporate participants, activity by off-shore participants in the index heavy weight however kept the positive numbers alive on the benchmark. High turnover in below par stocks, top three below par stocks contributed more than 40% to the total turnover, besides keeping the volume ticking kept the market-men active in short-term bets, decent turnover mainly contributed by the respective group in textile stocks duly support the sentiment and turnover, despite confusions on judicio-political front. With the economy under severe pressure, financial issues close to going beyond control, high interest rate scenario is likely to continue, so is the trend in inflation, a tough call not to recommend profit taking, short-term trading initiated due to the high turnover contributed by local financial groups may however continue to keep the local bourse on local radar, investment and placement decisions need proper screening, mainly in the stocks likely to reflect impact of economic slow-down and losses due to recent floods. While the companies that stay highly leverage and struggling to materialize the expansion plans yet have secured loans and are looking for increasing further debt burden should be avoided, however efficient debt management may prove profitable, the economic and business environment suggests caution. Presence of financial groups from the local as well as through offshore accounts along with activity by foreign fund managers will ensure availability of trading opportunities, while official statement carrying the timeline for introduction of MTS along with salient features may, however, allow concrete stance, caution, therefore, stays the call.