Oil explorers give Karachi stocks a needed boost

KARACHI: The local stocks ended higher on Friday, driven by investors' interest in oil exploration and production companies, traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.40 percent, or 61.17 points, higher at 15,418.76, on total volume of 113.92 million shares.

"Activity was primarily driven by exploration and production companies as well as fast moving consumer goods companies, where OGDCL itself contributed 47 points to the index. The index was up," said a dealer.

The Oil and Gas Development Company Limited gained 1.96 percent to close at 178.06 rupees. (Reuters)