KARACHI: Pakistan’s main stock exchange closed higher, with the benchmark 100-share index of the Karachi Stock Exchange rising 1.21 percent, or 320.54 points to 26,842.53.

The strengthening Pak Rupee further boosted investor interest and in a consecutive four-day rally, the benchmark index gained over 1,000 points.

Oil and cement stocks continued to rally whereas National Bank of Pakistan closed five percent upwards after decreasing in the last 2 days following the announcement of depressed results, dealer Samar Iqbal at Topline Securities said.

National Bank of Pakistan rose 5 percent to 52.66 rupees while Maple Leaf Cement Factory Ltd. was down 2.31 percent to 29.54 rupees.

The rupee ended higher at 103.30/103.35 against the dollar compared to Wednesday’s close of 104.39/104.45.

Overnight rates in the money market fell to 9.00 percent from Wednesday’s close of 10.00 percent.