KARACHI - The stock market ended slightly higher on the last day of the week as investors bought shares, especially oil stocks, as they became attractive after sharp falls in recent days. Record result announcement and pay out by Engro Corporation led the rally in fertilizer sector followed by FFC, FFBL. The Karachi Stock Exchanges benchmark 100-share index, which opened in the green zone with a gain of 28.91 points, ended 0.21pc, or 20.23 points, up at 9,774.07 on turnover of 136.16m shares. The KSE 30-index closed at 10284.26 with a gain of 49.59 points. The KMI-30 index closed at 14280.46 with a loss of 242.83 points, while all shares index closed at 6933.77 with a gain of 21.08 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 193.623m as compared to last trading sessions 258.995m. Future market volume, however, stood at 1.514m shares as compared to 3.102mn shares of last trading session. Market capitalization stood over Rs2.813tr, as total trades decreased to 104,157 as compared to last trading sessions 118,496, while 230 companies advanced, 121 declined and 16 remained unchanged. Highest volumes were witnessed in LOPTA at 20.877m closed at Rs 10.72 with a loss of Rs. 0.23 followed by TRG at 17.226m closed at Rs. 3.27 with a loss of Rs. 0.13, FFBL at 16.040m closed at Rs. 31.43 with a gain of 1.49. Ahsan Mehanti, a market analyst, said, The investors remained concerned over falling global equity markets and commodity prices, while rising political uncertainty over the NRO issue invited intra day correction but the market recovered on strong valuations in banks, fertilizer and oil scrips. The news that have affected market were Fatima Fertilizer provisional trading starts today; NSS investment portfolio up Rs500bn within a period of last one year; Finance Ministry releases Rs 9 billion to PSO to clear the dues of oil refineries and mature Letter of Credits (L/Cs) for oil import; NIT to launch new product NIT-IF to generate competitive stream of return with moderate risk by investing in Fixed Income Securities/Instruments; and Exploration rights of 6 blocks granted to OGDC, PPL and POL. The ability of the benchmark to sustain positive numbers did allow short covering in the closing hours, thus, allowing the index to go through the expected technical recovery, emergence of sellers on strength, however, disallowed any major recovery. Hasnain Asghar Ali at Aziz Fida Husein said, The issues on economy, political front and on geo political grounds might however force the locals to continue with the strategy of staying cautious; reassessment of companies on basis on corporate profitability is likely to set new direction for the local bourse. Capitalizing strength in the companies carrying serious reservations on payout and revenue will prove prudent, opportunities of taking short-term positions on technical recommendations, mainly in the stocks having speculative tendency will keep coming in upcoming sessions, he added.