ISLAMABAD: Pakistan's main stock market closed more than 1 percent higher on Wednesday, buoyed by investor confidence after solid results announced by leading power and financial companies.

The Karachi Stock Exchange benchmark 100-share index gained 151.31 points, or 1.05 percent, to close at 14,596.59 on volume of 110.25 million shares.

"Continuous net foreign buying coupled with excellent corporate results by United Bank and HUBCO power helped the market to close near 14,600," said Samar Iqbal, a dealer at Topline Securities.

In the currency market, the rupee firmed slightly against the dollar to close at 94.34/39 compared with 94.45/50 on Tuesday.

Overnight rates in the money market were unchanged at 11.90 percent. AGENCIES