OUR STAFF REPORTER KARACHI - The Karachi stock market edged higher on Tuesday on institutional and foreign investors interest on strong valuations. A positive closing was observed with rising volumes in the earnings announcement session after record earnings posted by the banking and chemical sectors in their quarterly financial results at KSE. The 100-share index rose by 17.44 points or 0.15 per cent to close at 11,933.46 points, showing a heavy turnover of 110.35 million shares. The KSE market capitalization amounted to Rs3, 173.66 billion or $37.47 billion while total trading value was recorded at Rs2.61 billion or $30.77 million respectively. The KSE 30-index surged by 44.85 points or 0.39 per cent to close at 11,599.88 points mark. KSE future volume came at 1.29 million shares, showing Rs114.16 million value with 4.76 per cent future spread. Institutional and foreign interest was witnessed on strong valuations. Formation of political alliance with PML-Q by the Federal Govt, higher global commodity prices and expectation of early release of next IMF tranche for Pakistans economic support played a catalyst role in keeping positive activity at KSE despite concerns over rising inflation in the country, said a market analyst.