OUR STAFF REPORTER KARACHI - The Karachi stock market on Friday witnessed bullish activity in the blue-chip scrips across the board after the US administration gave assurance to continue economic support of Pakistan. The KSE 100-share index increased by 0.65 per cent or 79.19 points to close at 12,346.52 points on turnover of 69.23 million shares. The KSE 30-share index rose 0.97 per cent or 113.23 points to close at 11,792.91 points. Shares of 341 companies were traded on Friday. At the end of the day, 127 stocks closed higher, 114 declined and 100 remained unchanged. The KSE market capitalization amounted to Rs3,250.49 billion or $37.79 billion. Ahsan Mehanti, Director at Arif Habib Investments Limited, said that institutional interest on strong valuations after US assurance for economic support to Pakistan and return of peace in Karachi on political reconciliation in late afternoon on Thursday played a catalyst role in bullish sentiment as investors awaited major corporate earning announcements next week. Meanwhile, according to a weekly report issued by JS Research, the week started on a wrong foot as the US withheld its $800 million military aid to Pakistan which dented investor confidence early on. To add to it, the week was marred by poor law and order situation, particularly in Karachi, after a fiery comments made by a provincial minister. The market closed the week at 12,347, down 44 points. Foreigners were buyers of $2.4mn worth of shares. The report further stated that investor sentiments were further dampened by the countrywide protests called by MQM on fiery comments made by a provincial minister.