The Karachi stock market closed higher on the last trading day of the week Friday as investors
took positions in the oil scrips after US Brent crude crossed $122 per barrel on political turmoil in Middle
East and Libya.
The Karachi Stock Exchange (KSE) 100-share index gained 57.03 points or 0.48 percent to close at
11905.87 points as compared to 11,848.84 points of the previous session. The KSE 30-share index also rose
101.73 points to close at 11,613.96 points as compared with 11,512.23 points.
"Renewed buying interest was seen in oil stocks on back of continuous increase in international oil prices,
increasing hopes of better earnings for the sector," said Topline Securities analyst Samar Iqbal. "Pakistan
Oilfields gained Rs 8.07, Pakistan Petrolrum Limited closed Rs 4.11 up and Oil and Gas Development
Company increased by Rs 1.65."
