Stocks Observer. com

By Tanveer Ahmed KARACHI: Overcoming all the odds at the political and economic fronts, country’s capital market managed to sail through the turbulent water comfortably by posting 28 percent returns in the calendar year 2010. Starting the journey below 10,000 psychological barrier at 9386 at the beginning of the year, benchmark KSE-100 index settled well above 12022 points level on the last trading day of the year on Friday. A market experiencing low trading volume was exceptionally good when it came to returns by registering 28 percent gains and 26 percent in dollar terms, which owed to flooding of the foreign money in the market especially during the last quarter of the year. “Strong foreign inflows and recovery in corporate earnings led to a strong market performance in the final quarter with the index witnessing more than 71% of the gains in last three months of the year,” analyst Umar Bin Ayaz at JS Global Research said. Foreigners remained active in the market with net buying of