KARACHI: Pakistan's main stock exchange closed higher on Wednesday, with the benchmark 100-share index of the Karachi Stock Exchange rising 1.64 per cent, or 374.51 points, to 23,165.21.

After a gap of six weeks, the Karachi market index crossed the 23,000 mark on renewed buying by local and foreign investors.

Positive news flows were recorded in the textile, telecommunications and fertiliser sectors, dealers said.

Pakistan State Oil Co Ltd rose 5 per cent to 295.39 rupees while Engro Corporation Ltd was up 4.99 per cent at 133.11 rupees.

The rupee ended steady at 107.23/107.29 against the dollar, compared with Tuesday’s close of 107.23/107.28.

Overnight rates in the money market rose to 9.40 per cent from Tuesday's close of 8.50 per cent.