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Karachi Stock Exchange ended higher

KARACHI : Karachi Stock Exchange (KSE) ended higher on Wednesday led by energy stocks after the government said it wou
Published August 17, 2011 Updated August 17, 2011 11:16am
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By Imad Uddin
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KARACHI: Karachi Stock Exchange (KSE) ended higher on Wednesday led by energy stocks after the government said it would improve the margins of oil marketing companies, dealers said.

The Economic Coordination Committee on Tuesday decided to revise the margins of oil marketing companies upwards mainly on petrol and diesel.

KSE benchmark 100-share index closed 0.32 percent, or 36.20 points, higher at 11,269.95.

Volume rose to 46.33 million shares from 26.8 million shares traded on Tuesday.

"Oil stocks rallied on the second day after Economic Coordination Committee announced its decision on improved oil marketing companies margin," said Samar Iqbal, a dealer at Topline Securities Ltd.

 

Copyright Reuters, 2011

 

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