Stocks climb to 31-month high

KARACHI: Stocks price rose to a 31month high at Karachi Stock Exchange (KSE) on Friday as foreign investors snapped up energy and fertiliser stocks on hopes of strong corporate results due to be announced in the coming days, dealers said.

The Karachi Stock Exchange's benchmark 100-share index ended 0.59 percent, or 74.10 points, higher at 12,533.54, its highest close since June 2008, on turnover of 300.47 million shares.

“Market continued the bullishness buoyed by the foreign flows with volumes not seen all of last year," a stock dealer said.

Foreign investors bought shares worth a net $11.2 million on Thursday.

Fauji Bin Qasim, volume leader, ended 4.98percent higher at 41.07 rupees, and Pakistan State Oil rose 2.94 percent to 306.40 rupees.