Pakistani stocks rally on hopes of strong earnings, better Pak-US ties

KARACHI: Mainly led by oil stocks, Karachi Stock Exchange (KSE) continued to rally for the third consecutive day here on Wednesday.

KSE-100, the benchmark index of the apex bourse rose by 0.53
percent or 116.86 points to close at 22,347.29 mark by the time of the closing bell.

According to analysts investors remained bullish amid September earnings results and expectations of a thaw in Pakistan-US relations on
the eve of Prime Minister Nawaz Sharif's meeting with President Barack Obama.

Among the star performers, Oil and Gas Development Co Ltd (OGDC) jumped 2.92 percent to Rs247 while Pakistan Telecommunication Co Ltd (PTCL) 1.89 percent to end higher at Rs26.95.