KARACHI: Pakistan's main stock exchange closed higher on Thursday, with the benchmark 100-share index of the Karachi Stock Exchange rose 0.64 per cent, or 180.99 points, to 28,511.02.

Mainly led by banking and oil stocks market gained. Pakistan State Oil gained after Government's decision to immediately release Rs,20bn on account of circular debt.

Fertilizer stocks however declined after Government announced its gas load management plans which will divert gas from fertilizer sector to power generation, dealer said.

National Bank of Pakistan rose 3.45 per cent to 59.05 rupees and Pakistan State Oil Co Ltd was up 2.64 per cent to 390.98 rupees.

The rupee ended weaker at 98.52/98.57 against the dollar compared to Wednesday's close of 98.22/98.27.

Overnight rates in the money market remained flat at 7.50 per cent.