KARACHI - The Karachi stock market rebounded strongly on Thursday with rising volumes led by oil & gas sector after international oil prices rose above $85. The Karachi Stock Exchanges benchmark 100-share index closed 0.80 per cent, or 84.54 points, higher at 10,702.19. The KSE 30-index closed at 10,279.01 with a gain of 101.52 points. The KMI 30-index closed at 16,972.16 with a gain of 176.81 points. All shares index closed at 7443.72 with a gain of 54.85points. Trading activity was better on Thursday as compared to the last trading session as the ready market volume stood at 12.59 million as compared to last trading sessions 10.61 million. Future market volume however stood at 2.88 million shares as compared to 3.61 million shares of last trading session. Market capitalization stood over Rs. 2.927 trillion. As many as 213 companies advanced, 152 declined and 23 remained unchanged. Highest volumes were witnessed in Lotte Pakistan PTA at 40.02 million, closed at Rs.10.89 with a gain of Re. 0.52, followed by B.O Punjab at 7.97 million, closed at Rs. 10.06 with a gain of Re. 0.35, and Bank Al-Falah at 5.95 million, closed at Rs.9.80 with a gain of Re. 0.02. Analysts said that the government agreement with lMF for gradual raise in power tariff, GST reforms were taken positive for resolution in circular debt concerns in energy sector. They added that cement sector remained in the limelight on reconstruction efforts in flood-affected areas. Limited change in auction cut-off yield & rising foreign interest in blue chip oil & gas, banking sector scrips played a catalyst role in the positive activity, despite concerns for ongoing SECP & member directors conflicts on KSE management issues. Ahsan Mehanti said that with fragility on economic front on the highest degree and main board stocks facing sell-off on strength, the local participants reverted to activity in the low priced stocks mainly from banking and chemical sector. The activity duly found support from the day traders thus keeping the market men trading in restricted band active. He said that Lotpta on back of high demand of Lotpta in international markets a major raw material for polyester staple fibre in demand mainly due to higher cotton prices, allowed the stock price to gain almost 8 percent during intra-day trade and contributing almost 40 percent to the total turnover. He further informed that wide spread activity, snap rallies in low priced stocks of power sector, main board textile and cement stocks clearly advocated support from the respective group along with consolidation in main board stocks from banking and OMCs (mainly from government sector), thus keeping the benchmark in green numbers after a short visit in red zone.