KARACHI: Pakistan's stocks closed higher on Wednesday after two days of volatile post election buying and selling.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.45 percent, or 92.07 points, higher at 20,566.69 points.

Local investors booked profit in stocks from Oil and Gas Development Co. Ltd and Pakistan Petroleum Ltd. Muslim Commercial Bank, a favorite with foreign investors, again closed at its upper limit.

Muslim Commercial Bank Ltd rose five percent to 288.73 rupees and Oil and Gas Development Co Ltd fell 2.23 percent to 212.50 rupees.

In the currency market, the rupee ended weaker at 98.45/98.50 against the dollar, compared to Tuesday's close of 98.40/98.45.

Overnight rates in the money market remained flat at 9.40 percent.