KARACHI: Pakistani stocks closed slightly higher on Thursday, although investors remained cautious ahead of next month’s budget announcement and volumes were low.

The Karachi Stock Exchange 100-share index closed 19 points, or 0.06 percent higher at 32,617.74.

Market expectations of a rate cut at the central bank’s monetary policy meeting on Saturday had little impact on trade.

The rupee ended a shade weaker at 101.85/101.91 against the dollar compared with Wednesday’s close of 101.82/101.88.

Overnight rates in the money market rose to 8.00 percent from Wednesday’s close of 7.50 percent.