Stocks Observer. com

Bulls dominated the trading sessions at the Karachi stock market during the week, as investors remained optimistic over International Monetary Fund (IMF) and Pakistan's officials meeting to discuss economic assistance of Pakistan and the release of third tranche for economic support. The Karachi Stock Exchange (KSE) 100-share index gained 151.30 points or 2 percent to close at 7,872.23 points as compared to 7,720.93 points of the previous week. Analysts said other major factors that supported the market included rise in international oil prices near to $76 per barrel in London trade, rebound in rupee fall and continued foreign interest. The turnover was recorded at 139.43 million shares as compared with 140.36 million shares of the previous week, reflecting a decline of 0.93 percent. "The one big surprise for the market during the week was the aggressive buying by offshore investors," said analyst at JS Research Bilal Qamar. "Net foreign buying stood at $18.6 million