KARACHI: Pakistan’s stocks closed higher, with buying of cement and banking stocks helping the index recover 184 points.

Continued profit taking was witnessed in oil stocks, dealers said. The Karachi Stock Exchange’s benchmark 100-share index closed 0.83 percent, or 184.28 points, higher at 22,276.70.

The Pakistan Oil and Gas Development Co. Ltd. fell 0.17 percent at 245.02 rupees, while Maple Leaf Cement Factory Ltd. was up 2.32 percent at 23.36 rupees.

The rupee ended almost steady at 98.47/98.50 against the dollar.

Overnight rates in the money market rose to 9 percent from Wednesday’s close of 7 percent.