KSE up 68 pts on approval of rise in OMCs margins

The Karachi stock market observed a firm trading session on Tuesday as the approval of increase in margins of oil marketing companies (OMCs) by the Economic Coordination Committee of the Cabinet propelled investors to take positions in the oil sector.

The Karachi Stock Exchange (KSE) 100-share index gained 67.65 points or 0.61 percent to close at 11,233.75 points as compared to 11,166.10 points of the previous session. The KSE 30-share index increased 81.19 points to close at 10,749.86 points as compared with 10,668.67 points.

Analysts said the market improved on the back of positive news on the oil sector front. According to media reports, the ECC has approved margins of oil marketing companies, which led a small rally in oil stocks and almost all oil stocks rallied near the end of the session.

From: Daily Times