Pakistani Stocks End Up Over Rising Oil Prices

Pakistani stocks ended higher on Friday as investors bought energy shares such as Oil and Gas Development Co Ltd (OGDCL) following a rise in international oil prices, dealers said.

The KSE’s benchmark 100-share index closed up 0.64 per cent, or 76.29 points, at 11,960.21 points.

Volume fell to 75.6 million shares, compared with 95.53 million traded on Thursday.

“The local bourse closed in positive, predominantly supported by OGDCL,” said Samar Iqbal, a dealer at Topline Securities Ltd.

OGDCL ended 2.75 per cent higher at 152.20 rupees.

Brent crude rose above $111 as comments from Iran that it might stop exports to the European Union intensified worries about security of supply, while positive data from the United States also acted as a support.

No comments:

Post a Comment