Oil, bank stocks lead KSE up to close at 23, 687 mark

KARACHI: Led by index heavyweight Oil and Gas Development Co Ltd and MCB Bank Ltd, Karachi Stock Exchange finished higher on Thursday.

The benchmark 100-share index gained 0.32 percent or 74.69 points to close at 23,687.89 mark.

Traders said that below market consensus earnings and payouts offered by Pakistan Oilfields Ltd and Attock Refinery Ltd gave rise to profit taking in most of the other active scrips.

Most of the cements stocks also fell as investors believe that sales will fall due to ongoing flood in the country.

Oil and Gas Development Co Ltd rose 2.67 percent to 264.99 rupees while DGKhan Cement Co Ltd was down 2.88 percent at 83.90 rupees