KARACHI - The Karachi stock market witnessed bullish activity on Wednesday on signs that a political row between the government and the MQM would ease soon. Banking, fertilizer and oil companies pushed stocks upward as the benchmark KSE 100-share index once again crossed the psychological barrier of 12,000 points, gaining 188.14 points to close at 12,128.15 points, while the KSE 30-index increased by 248.93 points to 11,890.12 points mark. Market turnover improved to 100.41 million shares against 54.216 million shares traded previously. KSE market capitalization amounted to Rs3, 263.45 billion or $38.21 billion from Rs3, 217.02 billion, while trading value was at Rs5.71 billion or $66.82 million versus Rs1.92 million previously, according to daily market report. The KSE future volume stood at 6.42 million shares and its value reached Rs807.07 million, showing a spread of 11.56 percent, the KSE report revealed. Fauji Fertilizer Bin Qasim Limited, Fatima Fertilizer, Lotte Pakistan PTA, Engro Corporation and Sui Southern Gas Company Limited were the top volume leaders stocks on the KSE. High yield dividend growth stocks, substantial reduction in political temperatures and MTS launch from next week forced the sellers, mainly in the high priced stocks, on the back-foot, tempting the renewed buyers to move a step forward for building new positions. These developments allowed the benchmark to attain triple digit gains during early trade, an analyst said. Hefty buying in Engro both from local and off-shore circuits allowed the stock to lead the gains and traded value besides providing widespread trading opportunities to the market men. Thus, keeping activity alive despite an overall dull session, he added. According to the analyst, mid-day stagnation due to absence of follow-up support and clipped activity by the resident participants, wherein divide amongst the locals is still quite prominent, reduced the market activity. However, gains remained intact, due to presence of corporate support on dips, day traders were seen making an exit, mainly owing to absence of roll-over mechanism. Economic, financial and matters linked to diplomatic relations with the US restricted the participation but improvement on the mentioned fronts and healthy response to the improved version of CFS will indeed allow the local bourse to trade with improved numbers, he opined.