KARACHI - Karachi Stock Exchange (KSE) recovers as the Supreme Court adjourned the hearing of National Reconciliation Ordinance (NRO) implementation case till October 13. While renewed foreign interest, bullish activity in global capital markets and expectations of limited change in monetary policy announcements this week played a positive role but investors remained concerned due to rising political uncertainty. The Karachi Stock Exchange 100 index opened in green zone and at the end of the day was closed at 9936.79 points with the gain of 27.34 points while KMI 30 index gained 83.25 points and closed at 15607.68 points. All share index was closed at 6941.99 points with the gain of 11.56 points. Trading activity was maximal as compared to the last trading session, as the ready market volume stands at 69.077 million as compared to the last trading session 4.857 million. Future market volume, however, stands at 1.664 million shares as compared to 3.422 million shares last trading session. Market capitalisation stands over Rs 2.746 trillion. 183 companies advanced, 187 declined and 23 remained unchanged. Highest volumes were witnessed in TRG at 1.33 million closed at Rs 4017 with a gain of Rs 0.26 followed by Lotte Pakistan at 7.912 million closed at Rs 8.87 with a gain of Rs 0.29, Silk Bank at 3.772 million closed at Rs 2.67 with a gain of Rs 0.02. Ahsan Mehanti, Director Arif Habib Investments Limited, said that investors held their horses tight despite polluted horizon. He added that an initial spell of local volume decline was well arrested and the stocks invited renewed buying interest, thus disallowing the trend of low volume price erosion to set in. He said turnover stream was led by activity in below par stocks, textile sector and oil and gas distribution companies. Buying interest generated by the resident participants did allow the values to improve allowing reducing negativity on the benchmark; absence of follow-up support, however, disallowed the index from going far-off in the positive zone. He said despite awkward and uncertain situation on economic, financial (ballooning circular debt, weakening local currency) and political fronts, the ability of the local bourse to maintain the prevailing levels indicate a unified stance, adopted mainly by local participants for disallowing major decline in local values ahead of quarter-end September 2010, mainly due to financial impact in case of decline in values of main board stocks. He further added that nevertheless, the activity did allow various day trading opportunities to the smart traders, besides allowing decent turnover, in the absence of ready-board leverage and post CGT implementation scenario. He informed that upcoming monetary policy and absence of update on MTS regarding proposed amendments and time-line for approval and implementation, uncertainties and volatility are likely to stay on higher side.