KARACHI - The benchmark KSE 100-share index showed slight recovery on Thursday as strong results announcement by oil & gas sector boosted the investor confidence. The Karachi Stock Exchanges benchmark 100-share index, which opened in the green zone with a gain of 14.47 points, rose 0.24 percent, or 24.94 points, to end at 10,615.15. Volumes stood at 186m shares, 28 per cent better than Wednesdays. The KSE 30-index closed at 10742.87 with a gain of 2.54 points. The KMI 30-index closed at 15980.93 with a gain of 56.97 points. All shares index closed at 7479.91 with a gain of 16.46 points. The market opened on a positive note and stayed in the positioned zone throughout the day as the E&P sector remained strong. The upsurge in PSO was initiated by rumours of higher-than-expected earnings and chances, albeit slim, of a cash payout, despite the fact that PSO has not given dividend in the 3rd quarter since 2007. The company announced nil dividend and a 9MFY10 EPS of 43.93/share, on the back of which, the share surged by 2.7% to finally close at Rs318.33, up by 2.2pc. Results announced by two major cement companies changed the positive sentiment in the market, as both the results announced were below expectations. Lucky and DG Khan Cement after announcing a 3rd quarter EPS of Rs7.92 & Rs1.06, declined by 3.3% & 4.6%, respectively. Trading activity was better as compared to the last trading session as the ready market volume stood at 185.713m as compared to last trading sessions 145.502m. Future market volume, however, stood at 4.979m shares as compared to 2.754m shares of last trading session. Market capitalization stood over Rs 3.008tr, as total trades increased to 83,105 as compared to last trading sessions 79,717, while 201 companies advanced, 190 declined and 21 remained unchanged. Highest volumes were witnessed in TRG at 29.613m, closed at Rs6.15 with a gain of Re0.35, followed by NIB at 15.545m, closed at Rs4.82 with a gain of Re0.28, and LOTPTA at 9.919m, closed at Rs11.79 with a loss of Re0.04. Ahsan Mehanti at Shehzad Chamdia Securities said, Federal government announcement for 116b support in energy sector, rise in international oil prices, renewed interest of foreign investors and expectation of strong result announcements in blue chips played a catalyst role in the positive activity. Some news that affected the trading activities at the market were: E&P sector may strike $170m commitments; IMF nudges up world GDP view; March oil import bill booms 110pc; and textile exports up 20.2pc YoY. Hasnain Asghar Ali, a market analyst, said, Recommendation to stay calculative and selective stays, crossing the mountain of various issues and events without resistance seems inevitable, so far however off-shore activities have kept a check on bearish run-up chances of sell-off persist, thus recommending caution.