Pakistani stocks higher

KARACHI, Nov 8 (Reuters): Pakistani stocks closed higher on Friday, with the benchmark 100-share index of the Karachi Stock Exchange closing up 0.87 per cent, or 266.26 points, at 30,930.04.

"Strong rebound in oil stocks led by Oil and Gas Development Co Ltd and Pakistan Petroleum Ltd resulted in the Karachi stocks index reaching another high," said Samar Iqbal, a dealer at Topline Securities.

"Investors remained focused on Oil and Gas Development Co Ltd's book building that will help restore confidence in the market."

Oil and Gas Development Co Ltd rose 1.53 per cent to 224.98 rupees, while Nishat Mills Ltd ended 5 per cent higher at 119.51 rupees.