Business January 7, 2021 Stocks on Wednesday ended near three-year high as a surprise oil surge fired up energy sector that was later joined by cements on price hike hopes and banks because of strong earnings outlook, dealers said. Benchmark KSE-100 shares index hit a high of 1.13 percent or 502.99 points to close at 45,153.42 points at Pakistan Stock Exchange (PSX). Volumes increased to 664.538 million shares, from 582.367 million shares on Tuesday. KSE-30 gained 1.14 percent or 212.97 points to end at 18,921.67 points. Ovais Ahsan, chief executive officer at Optimus Capital Management, said oil and gas exploration sector led the rally initially tracking an up to 5 percent upsurge in crude oil overnight, mainly spurred by Saudi Arabia’s announcement of a surprise production cut.