KARACHI: Pakistani stocks ended higher on Friday, mainly led by banking shares that continued their upward trend from the previous session on good first-quarter results, dealers said.

The benchmark 100-share index of the Pakistan Stock Exchange closed up 0.63 percent, or 215.65 points, at 34,719.29.

“Banking stocks performed well, primarily due to good results for the first quarter and on anticipation that interest rates might go up,” said Fawad Khan, head of research at KASB Securities Pvt Ltd.

Shares of Habib Bank Ltd. rose 5 percent to 188.93 rupees, while those of United Bank Ltd. gained 2.30 percent to 164 rupees.

Traded volume fell 6 percent to 245 million shares, while value dropped 8.2 percent to 13.3 billion ($127 million).

The rupee ended at 104.77/104.81 against the dollar, compared with Wednesday’s close of 104.80/104.84. Overnight rates in the money market rose to 6 percent from Thursday’s close of 5.90 percent.