KARACHI - The stocks, buoyed by strong foreign investment inflows, closed at their highest level in more than 19 months on Thursday, with oil & gas, fertilizer and banking scrips interesting foreign investors the most. The Karachi Stock Exchanges benchmark 100-share index, which opened in the green zone with a gain of 58.48 points, ended 0.67 percent, or 68.34 points, higher at 10,246.77. It was the highest closing for the KSE-100 since Aug. 20, 2008, when it ended at 10,525.99. The index touch an intra-day high of 10,314.73 points. Volume was 170.19 million shares compared with 199.17 million traded on Wednesday. On the other hand, the KSE 30-index closed at 10499.66 with a gain of 74.31 points. The KMI 30-index closed at 15614.87 with a gain of 185.28 points. All shares index closed at 7225.01 with a gain of 42.64 points. Trading activity was minimal as compared to the last trading session as the ready market volume stood at 170.343m as compared to last trading sessions 199.308m. Future market volume, however, stood at 4.472m shares as compared to 14.885m shares of last trading session. Market capitalization stood over Rs2.907tr, as total trades decreased to 88,237 as compared to last trading sessions 97,724, while 256 companies advanced, 157 declined and 20 remained unchanged. Highest volumes were witnessed in TRG at 28.935m closed at Rs3.83 with a gain of Rs0.49 followed by JSCL at 10.418m closed at Rs21.92 with a gain of Rs0.25, SILK at 8.602m closed at Rs3.09 with a loss of 0.06. Ahsan Mehanti at Shehzad Chamdia Securities said, Ratings maintained by Moodys at B3 with stable outlook on Pakistan, resolution of political conflicts in 18 the Amendment of Pakistan Constitution, rise in international oil prices played a catalyst role in the positive activity. Some news that affected the trading activities at the market were: Moodys rates Pakistan B3; March tax collection Rs 42.4 billion short of target; ME firm to sell 1.14mn barrel LSFO; and PSO to start E-10 sale in Sindh. The fertilizer stocks, mainly those that have stayed successful in reporting growth in earnings and payouts despite all odds, invited renewed buying interest. Concerns on economy, mainly inflationary pressure, expected adjustment and change in activity pattern at the local bourse upon CGT implementation, introduction of new taxes, likely to have inflationary impact and news inflow from the judiciary and political fronts, restricted trading activities. Hasnain Asghar Ali, a market analyst, said, 'Since expensive stocks have heavy weight in index, trading float in the stocks, if offered will have a big impact on the benchmark, caution is therefore advised in the expensive stocks, held for trading, while swap from expensive to cheaper, yet fundamentally strong stocks is recommended for investment portfolios.