Bulls give KSE 100-Index 178-point boost

KARACHI: Bulls grew further strong at Karachi Stock Exchange (KSE) pushing stock prices by 178.83 points higher on Thursday.

The local equities market was led by energy stocks such as the Oil and Gas Development Co. (OGDCL) on hopes of strong corporate results, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index rose 1.52 percent, or 178.53 points, to end at 11,923.59,its highest close since April 6.

Volume was 71.11 million shares, compared with 72.96 million shares traded on Wednesday.

"There is interest in the oil stocks, and going forward turnover should also pick up," a stocks dealer said.

OGDCL is due to announce its results for the quarter ended March 31 on April 27.