KARACHI: Pakistani stocks closed higher on Tuesday, with the benchmark 100-share index of the Karachi Stock Exchange .KSE closing up 0.15 percent, or 47.16 points, at 31,953.90.

“Range-bound activity was seen. Cement shares and banks rallied in expectation of better December earnings. Oil stocks fell in line with the drop in international oil prices,” said Samar Iqbal, a dealer with Topline Securities.

Oil and Gas Development Co. Ltd. fell 2.3 percent, while Engro Foods Ltd. ended up 4 percent.

The rupee ended higher at 100.60/100.65 against the dollar, compared with the previous close of 101.00/101.10.

Overnight rates in the money market fell to 7.50 percent from Monday’s close of 9.25 percent.