A strong surge by Pakistani oil companies helped the benchmark 100-share index of the Karachi Stock Exchange close on a high today after breaking the 33,000 points barrier.
The Karachi Stock Exchange index gained 281.53 points or 0.86 per cent to close at 33,117.47 points.
Market analysts said that a strong recovery in global oil prices had helped the Pakistani oil stocks rally after many days.
"Basically today the stock market performed strongly due to stocks of Pakistan Oilfields Ltd, Pakistan Petroleum Ltd, and Oil and Gas Development Co Ltd gaining strongly," Intikhab Ahmed, an analyst, said.
Pakistan Oilfields rose by 3.27 per cent to Rs 381.48, while Pakistan Petroleum rose by 2.12 per cent at Rs 182.31.
