KARACHI: Pakistan's stocks closed higher on Friday, driven by steady foreign buying in large cap stocks, dealers said on the eve of the country's May 11 elections.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 1.30 per cent, or 254.81 points, higher at 19,916.27 points.

Muslim Commercial Bank Ltd rose 5 per cent to 249.43 rupees whereas Pakistan State Oil Company Ltd was up 3.83 per cent to 212.15 rupees.

In the currency market, the rupee ended steady at 98.37/98.42 against the dollar, Overnight rates in the money market fell to 9 per cent from Thursday's close of 9.40 per cent.