Bargain-Hunting Buoys Stocks; Dow Up 11.23

Blue chip stocks closed higher Friday, buoyed by bargain-hunting demand and technically inspired buying after three days of losses.

The Dow Jones industrial average was up 11.23 points at 3,285.35. In the broader market, advancing issues led declines 986 to 709 on active New York Stock Exchange volume of 229 million shares.