KARACHI - Profit-taking in late hours minimised the intra-day gain on Friday as KSE 100-index finally gained 55 points to close at 9306 points. The KSE 100-index opened in a positive zone with a gain of 33.56 points and at the end of the day closed at 9306.36 with a gain of 55.17 points. KSE 30-index closed at 9825.9 with a gain of 51.03 points. KMI 30-index closed at 13577.59 with a gain of 72.21 points. All shares index closed at 6593.93 with a gain of 38.10 points. Trading activity was better as compared to the last trading session as the ready market volume stands at 140.320m shares as compared to last trading session 108.204m shares. Future market volume however stands at 2.428m shares as compared to 3.060m shares last trading session. Market capitalisation stands over Rs2.686tr. Total trades increases to 91,516 as compared to last trading session 86,646. As many as 193 cos advanced, 161 declined and 18 remained unchanged. Highest volumes were witnessed in BAFL at 33.465 million closed at Rs14.25 with a gain of Re0.94 followed by PTC at 10.476 million closed at Rs18.29 with a gain of Re0.27, PPTA at 6.785m closed at Rs7.65 with a loss of Rs0.02. Positive activity witnessed on continued foreign interest in oil and gas exploration sector. Ahsan Mehanti at Shehzad Chamdia Securities said expectation of reduction in discount rate in next monetary policy announcement on Nov 24, early introduction of leverage products in the market and stronger valuations impact in the telecom sector played a catalyst role in positive activity at KSE. Hasnain Asghar Ali at Aziz Fidahusein said clarification regarding depleting gas output from OGDCs Qadirpur gas field did infuse confidence amongst the local participants, while nervousness regarding decline in revenues and payout ratios that have been quite prominent in couple of quarterly announcements persisted. Declining trend in upcoming quarter might reduce the valuations of the govt companies, who were termed as bonds (safe investments) in previous years, nevertheless unprecedented foreign investment inflow from previous sessions mainly in OGDC, did invite cautious accumulation by local corporate participants in oil and gas exploration and marketing stocks, thus allowing benchmark to sustain positivism. Unconfirmed news of new listing of the unlisted strategic holding of Bank Alfalah, that would bring in capital gain to the bank, reinvited interest in the undervalued stock of the banking sector. High activity due to pinch of rumours regarding sponsors interest in the stock, not only placed the bank on top of the volume leaders but also activity had a positive impact on other stocks of the sector as well. Accumulation continued in low priced stocks and stocks offering consistent double digit dividend yields along with growth in revenue stream, besides leading textile sector stocks, those have been in limelight from previous sessions, activity although failed to invite high turnover due to obvious reasons. It did improve the sentiment that has been on lower side due to various reasons. Recommendation to stay cautious continues mainly due to persisting concerns on economy, inability of the local bourse to invite turnover that in turn gives rise to impact cost. Stocks offering high yield can be accumulated regardless of the various non issues other than mentioned above being debated, while stocks trading at high multiples, in comparison to other stocks of the sector and stocks carrying doubts on payout and revenue consistency can be looked for off-loading, steep declines may however recommend short term technical trades.