KARACHI: Pakistan’s main stock exchange closed higher, as the benchmark 100-share index of the Karachi Stock Exchange rose 0.32 percent or 74.69 points to 23,687.89.

Led by index heavy weight Oil and Gas Development Co. Ltd. and Muslim Commercial Bank Ltd. benchmark index closed in positive territory.

However, lower than expected earnings and payout by Pakistan Oilfields Ltd. and Attock Refinery Ltd. resulted in profit taking in most of the other active stocks.

Most of the cements stocks also fell as investors believe that sales will fall due to ongoing flood in the country.

Oil and Gas Development Co. Ltd. rose 2.67 percent to 264.99 rupees while D.G. Khan Cement Co. Ltd. was down 2.88 percent at 83.90 rupees

The rupee ended weaker at 102.65/102.70 against the dollar, compared to the previous close of 102.59/102.64.

Overnight rates in the money market fell to 6.50 percent from the previous close of 6.75 percent.