After a steep fall on Tuesday some recovery was seen in local share market. Though many questions still remained unanswered on the political front but investors took some position amid hope that issues would be resolved, dealers observed here on Wednesday.

At local equity market benchmark KSE-100 share index posted a fresh a gain of 73.58 points or 0.46 percent to close the day at 16,181.47 points as compared to 16,107.89 points of the previous day.

Samar Iqbal said buying interest in leading sectors like oil, cements and fertilizer helped index to gain 73 points. Volumes remained low with activity remained confined towards mid cap stocks. TRG led the volume followed by FCCL and JSCL.

KSE-Allshare index up by 53.41 points or 0.47 percent to end the day at 11,457.56 points, KSE-30 share index higher by 47.38 points or 0.36 percent to stop the day at 13,244.14 points while KMI-30 share index added 137.41 points or 0.49 percent to finish the day at 28,135.02 points.

Analysts said hopes for political consensus on prevailing uncertainty and standoff in long march called for reform in election commission and Govt assurance for timely elections in the country played a catalyst role in bullish sentiments at KSE. Strong earning announcements in blue chip stocks and higher global commodities affected the sentiments amid cautious activity in the trading session.

Market traded 96.064 million shares after opening at 239.425 million shares and the value of traded shares was minimised to Rs 2.724 billion from Rs 2.285 billion. Capitalisation of share market maintained at Rs 4.060 trillion compared to Rs 4.041 trillion of a day earlier.

During the session 327 companies participated in the trading where gainers outnumbered the losers 196 to 114 while the value of 17 stocks remained intact. Bata (Pak) was the biggest loser of the day down by Rs 10 to Rs 1260. Abbot Lab was the top price gainer of the day up by Rs 9.20 to Rs 207.43.

In the top ten scrips of the day, TRG Pakistan was the volume leader of the day with 8.041 million shares as it closed at Rs 6.27 after opening at Rs 5.92. Fauji Cement was on the second position with 7.437 million shares.

It was followed by JS Co with 6.616 million shares marginally down by Re 0.02 to Rs 14.11, Byco Petroleum with 6.513 million shares gained Re 0.45 to Rs 12.98 and Maple Leaf Cement with 4.710 million shares decreased by Re 0.02 to Rs 14.30.