ISLAMABAD (Reuters) The Karachi stock market closed more than 1.2 per cent higher on Friday, but on low volume, as investors accumulated cheaper shares, dealers said. The KSE benchmark 100-share index ended 1.27 per cent or 149.84 points higher at 11,957.30. Volume fell to 55.85 million shares, compared with 61.49 million shares traded on Thursday. "Volume was dull as investors were slightly cautious ahead of the long weekend," said Mohammed Sohail, chief executive at Topline Securities Ltd. Markets and banks will reopen on Nov 10, after the holidays for the festival of Eid-al-Adha. Among the most active companies, Engro Corp, volume leader, ended 4.46 percent higher at 135.99 rupees and Jahangir Sidiqui rose 3.77 percent to close at 6.05 rupees. In the currency market, the rupee weakened to 86.25/30 to the dollar from 86.15/19 on Thursday, amid high dollar demand from importers. Dealers said healthy remittances from Pakistanis living abroad had been supporting the rupee in previous trading sessions, but cautioned that a widening current account deficit means the local currency could experience downward pressure in the days ahead. Pakistan's current account deficit surged to a provisional $908 million in September, compared with a deficit of $201 million in August. The deficit for the July-September quarter was a provisional $1.21 billion, compared with $597 million in the same period last year, according to data from the State Bank of Pakistan. In the money market, overnight rates ended flat at the top level of 11.90 percent amid tight liquidity in the interbank market.