KARACHI - The Karachi Stock Exchange closed up on Friday on hopes of a positive outcome from a meeting of the Karachi Stock Exchange (KSE) board on Monday to approve recommendations for reintroducing margin buying. However most investors stayed on the sidelines ahead of the monetary policy for August and September, due to be announced on July 30. Various whispers regarding higher dividends and earnings kept the activity amid low volumes alive in fertilizer stocks, while sound that echoed the arena regarding renewed offshore interest in specific E&P stocks, along with rising trend in international oil prices kept the positive numbers alive on board. The KSE 100-share index, which opened in the green zone with a gain of 18.82 points, closed at 10296.04 with a gain of 67.18 points on turnover of 67.39 million shares. The KSE 30-index closed at 10244.34 with a gain of 59.45 points. The KMI 30-index closed at 15437.06 with a gain of 37.06 points. All shares index closed at 7201.52 with a gain of 44.20 points. Trading activity was better as compared to the last trading session as the ready market volume stood at 67.388m as compared to last trading sessions 60.222m. Future market volume however stood at 2.607m shares as compared to 1.802m shares of last trading session. Market capitalization stood over Rs 2.889tr. Total trades increased to 47,852 as compared to last trading sessions 46,269. 206 companies advanced, 168 declined and 23 remained unchanged. Highest volumes were witnessed in OGDC at 8.694m, closed at Rs151.15 with a gain of Rs2.96, followed by JSCL at 6.090m, closed at Rs15.05 with a loss of Re0.08, and FFBL at 4.209m, closed at Rs29.74 with a gain of Rs1.01. The analysts said the stocks trading in its teens led the turnover besides offering short-term trading opportunities to the market men, while OGDC kept the thrill alive, besides making substantial contribution to the gains, despite all happening the turnover and value of traded shares stayed on lower side. They added that high volatility in certain stocks mainly due to hand shift did become a part of the market in closing hour, the activity could well be an attempt to make certain main board stocks eligible for margin trading since besides other prerequisites in eligibility criteria. They said average volume of a million shares per day for the period under consideration, might disallow handful main board stocks, from making it to the modified ready board leverage, the activity may therefore do the needful. They further said that inability of the main board stocks to invite renewed buying on strength kept the horizon restricted, as the participants preferred short-term trades, the trend is likely to continue till the announcement of monetary decision. They said reacting on technical calls with identified stop losses will keep the excitement for day traders alive, while dips in the stocks likely to carry decent dividends in upcoming announcements can be capitalized, till the concerns on various issues mainly leading to a tougher monetary stance are addressed.