KARACHI (Reuters) Shares at Karachi market ended 2.5 percent higher on Wednesday, recovering from a near nine-month low the previous day as world stocks rebounded, led by the fertiliser sector. The Karachi Stock Exchanges benchmark 100-share index closed 2.50 percent, or 276.37 points, higher at 11,311.29 points on turnover of 67.65 million shares. Following a strong recovery in the regional markets, Karachis stocks also posted a handsome recovery, said Samar Iqbal, a dealer at Topline Securities Ltd. World shares clawed back more ground on Wednesday as investors, rattled by a run of heavy losses, took comfort from the Federal Reserves pledge to keep interest rates near zero for two more years. Dealers said investors accumulated fertiliser shares on hopes of strong corporate profits. Engro Corp which is due to announce its results on Friday, ended 4.99 percent higher at 129.76 rupees. In the currency market, the rupee ended firmer at 86.32/37 to the dollar, compared with Tuesdays close of 86.41/44 because of higher remittances from overseas Pakistanis. According to official data, remittances rose 38.57 percent to $1.1b in the first month of 2011/12 fiscal year, compared with $791.18 million in the same period last year. In the money market, overnight rates ended at 10.60 percent, compared with Tuesdays close of 10.50 percent. APP adds from Islamabad: Manager First National Equity Pvt Ltd, M.M. Hassan said that the rebounding of international stock markets caused bullish trend in local market. He said that buying by local institutions at lower level of index recovered the market and it was the sign of positive sentiments for the markets in the future. Senior Equity Dealer, Ismail Iqbal Pvt Ltd, Zaheer Ahmed told APP that stock market had rebounded because of recovery in international markets. According to National Clearing Company of Pakistans data, even today (Wednesday) foreign investors remained net seller and local institution were buyers at lower level of index, he added. He said that major buying by local institution in stock market had recovered some losses because of expectation of positive results to be announced in near future.