Buying continued on the Pakistan Stock Exchange on Thursday as the benchmark KSE-100 index rose for a fourth straight session, gaining 1,456 points, or 0.88%, to close at 167,193. About 366 million shares changed hands.
Commercial banks, fertiliser companies, investment banks, oil and gas, and refineries led the gains. FFC, Engro Holdings, HBL, MCB and UBL were among the main contributors, while Cnergyico was the most traded stock with 184 million shares.
According to sources, better-than-expected corporate earnings are supporting sentiment, with PSO and Mari reporting encouraging results after strong numbers from FFC and Hubco. Brent crude eased about 1% to near $114 a barrel, and the market has largely absorbed the State Bank of Pakistan's recent 50-basis-point rate hike.
Analysts said some profit-taking and consolidation could follow on Friday after four positive sessions, with volumes and continued buying in heavyweight stocks key to whether the rally lasts.