KARACHI - The Karachi stock market continued to rise Friday amid strong institutional and foreign interest in the selected scrips of the blue chip companies. The Karachi Stock Exchange (KSE) 100-share index increased by 30.78 points or 0.26 per cent to close at 11,954.37 points on a turnover of 66.96 million shares yesterday. The index had closed lower at the level of 11,923.59 on Thursday. The KSE market capitalisation amounted to Rs3,179.07 billion or $37.72 billion while total trading value was recorded at Rs3.31 billion or $39.32 million respectively. The KSE-30 index surged 28.37 points or 0.24 per cent to close at 11,608.34 points mark. KSE future volume came at 2.59 million shares, showing a value of Rs311.38 million with 1.35 per cent future spread rate. Follow-up support in frontline main board stocks, kept the bulls going, wherein on one end buyers accumulated high dividend yielding stocks, strength in various stocks termed over valued witnessed off-loading, however, placement of proceeds in comparatively safer stocks, disallowed negativity to over power. A short-term profit-taking and 12000 linked corporate off-loading offered resistance to new entrants, said a market analyst. Besides selling in high priced stocks, technical adjustment and week-end pressure kept the benchmark under pressure, green numbers were sustained, while the local stakeholders waited for the materialisation of aggressive plan unveiled for restructuring of exploration and various petroleum and energy companies, from the government sector, the analyst said. The earnings and budget leaks will inspire the market movement and availability of ready board leverage still carries chances of extension of bull run in case of positive updates comes from the regulators on capital gain taxs implementation mode, according to the analyst. Caution however stays the call, with accumulation stance in dividend yielding stocks, mainly those escaping taxation wraths in budget, gas curtailment and increasing trend in local interest rates, he warned.