KARACHI: Pakistani stocks closed higher on Wednesday, as equity values inched up by 0.7 per cent led by small cap stocks.

Engro Corporation remained in the limelight, with investors expecting the company to post positive results after improved performance by its fertiliser business, dealers said.

Fauji Cement also remained in the limelight due to speculation of exceptional results. The Karachi Stock Exchange’s (KSE) benchmark 100-share index ended 0.71 per cent, or 132.37 points, higher at 18,779.66 points.

Engro Corporation Ltd rose 2.76 per cent to 138.85 rupees and Fauji Cement Company Ltd was up 4.41 per cent to 8.76 rupees.

In the currency market, the rupee ended almost steady at 98.38/98.43 against the dollar compared to Tuesday’s close of 98.36/98.42.

Overnight rates in the money market fell to 9.40 per cent from Tuesday’s close of 9.50 per cent.