Stocks Observer. com

The Karachi stock market closed at more than a 30-month high Thursday on strong valuations in the scrips of oil and gas and fertilizer sectors across the board, ahead of earnings announcement session. Bullish sentiments continued to hit retail and institutional investors in an anticipation of early approval of leverage products by the Security and Exchange Commission of Pakistan. The Karachi Stock Exchange’s benchmark 100-share index ended 1.50 percent, or 182.63 points, up at 12,323.47, its highest close since June 2008. The index had closed at 12,140.84 on Wednesday. Volumes stood at 144.29 million shares against 168.22 million shares of Wednesday. Market capitalization amounted to Rs3, 336.28 billion or $38.89 billion. Ready market value accounted for Rs7.91 billion or $92.17 million. The KSE 30-index surged by 1.46 per cent or 171.15 points to close at the level of 11,888.43. KSE future volume came at 7.83 million shares while value stood at Rs1, 189.35 million with 1.12 per cent f...