KSE 100-index ends higher

Karachi Stock Exchange led by the energy and banking sectors closed on Wednesday at their highest level of the year, dealers said, with interest from foreigners also an influence. The Karachi Stock Exchanges (KSE) benchmark 100-share index ended or 109.40 points (1.25 per cent) higher at 8,878.64, the highest closing of the year, after reaching 8,939.75 at one point. Volume was 231.12 million shares. The KSE-100 has gained 51.38 per cent this year after losing 58.3 per cent in 2008. Dealers said improved macroeconomic fundamentals were encouraging foreign investors to look at Pakistan. Dealers said the energy and banking sectors led the rally. Bank Alfalah was the volume leader on Wednesday; its shares raised 7.13 per cent to12.92 rupees.