Bulls gain strength at KSE; add 192 points to Index

KARACHI: Pakistani stocks rose more than 1.7 percent on Tuesday as investors capitalised on bargain prices for blue chip companies, such as Oil and Gas Development Co Ltd (OGDCL), after the market fell sharply last week, dealers said.

The Karachi Stock Exchange's benchmark 100-share index ended 1.73 percent, or 192.51 points, higher at 11,305.16 on turnover of 53.11 million shares.

"A bullish trend was witnessed in stocks across the board atthe KSE, lead by blue-chip oil and fertilizer shares," said a stock analyst and dealer.

Last Thursday, the KSE-index ended at 10,909.12 points, its lowest close since Aug. 29.

OGDCL rose 3.5 percent to 145.08 rupees, Pakistan Petroleum Ltd ended 2.42 percent higher at 168.99 rupees and Engro Corp gained 5 percent to close at 100.68 rupees. (Reuters)