Karachi index rises 0.85%, oil companies lead rally

Pakistan's benchmark stock index, the Karachi Stock Exchange 100 Index, rose 0.85 per cent at the close of trade on Tuesday. The index of 100 companies traded on the Karachi Stock Exchange rose 103.34 to 12,314.99. Among the stocks in the index, 56 rose, 26 fell and 18 were unchanged. Gains in the Karachi Stock Exchange 100 Index were led by Pakistan Oilfields, Oil & Gas Development Co and Pakistan Petroleum Ltd. Pakistan Oilfields Ltd, which rose Rs17.11 to Rs359.47, was the most active stock by value in Pakistan. The next most-active issues during the day were Engro Corp Ltd/pakistan, which rose Rs3.17 to Rs193.18, and Pakistan Petroleum Ltd, which rose Rs1.84 to Rs213.02.