KARACHI - The Karachi stock market closed modestly higher on Thursday. There was some buying at lower levels on hopes that the outcome of IMF and Pakistans meeting, given the devastating floods, would be in Pakistans favour but most investors remained cautious. Despite negativity clearly outnumbering optimism, the benchmark sustained the levels attained after the regulator (SECP) decided to address the lingering issue of ready board leverage. OGDC, due to its die-hard support, allowed the benchmark to stay in positive territory for most part of the session, while accumulation was quite prominent in power and other sector stocks due to their dividend flows. The activity did allow mild trading opportunities, however, due to narrow band, activity was generally generated and capitalized by proprietary traders. The KSE 100-index, which opened in the red zone with a loss of 4.72 points, closed at 9762.89 points with a gain of 27.51 points. The KSE 30-index closed at 9636.05 with a loss of 5.38 points. The KMI 30-index closed at 15133.52 with a gain of 21.86 points. All shares index closed at 6818.40 with a gain of 20.08 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 43.817 million as compared to last trading sessions 52.248 million. Future market volume however stood at 1.891 million shares as compared to 2.316m shares of last trading session. Market capitalization stood over Rs2.728 trillion. Total trades decreased to 32,943 as compared to last trading sessions 41,038. 166 companies advanced, 141 declined and 29 remained unchanged. Highest volumes were witnessed in HUBC at 4.278m, closed at Rs36.76 with a gain of Re0.14, followed by JSCL at 4.271m, closed at Rs10.05 with a gain of Re0.07, and DGKC at 4.196m, closed at Rs25.40 with no change. The analysts said while high priced stocks faced off-loading from the trading portfolios, which were accumulators, when the stocks were available in the lowest levels of recent times, due to low volume price erosion, in previous week and early session of running week. They added that the update on loss estimates and likely support in shape of relaxations on pay back and meeting fiscal targets, set by IMF and extension of various sift loans expected will allow the local stakeholder to have a authentic view of economy and financial status.