Buoyant oil sector lets Pakistan stocks rise

Karachi: Pakistan stocks rose the most in a week, led by oil explorers, after the main opposition party said it will not demand that President Asif Ali Zardari resign, raising optimism that political turmoil in the country will end.

Oil & Gas Development Co., the nation's biggest exploration company, gained 1.6 per cent to Rs109.04. Pakistan Petroleum Ltd, the nation's biggest gas producer, advanced 1 per cent to Rs184.32.

Pakistan Oilfields Ltd., the nation's third- biggest fuel explorer, advanced 0.4 per cent to Rs225.60. MCB Bank Ltd., the biggest lender by market value, gained 2.5 per cent to Rs222.38.

The benchmark Karachi Stock Exchange 100 Index advanced 98.87, or 1.1 per cent, to 9,332.47. The index has risen 59 per cent this year, set for its biggest annual gain in six years.