KARACHI - Despite witnessing a volatile session, stock market continued to set new records on Thursday.

Positivity prevailed for the fourth consecutive session at Pakistan Stock Exchange as the 100-share index surged by 207.54 points to close at the fresh all-time high level of 39,257 points. The banking sector remained upbeat despite a decline of 20bps in Pakistan Investment Bonds auction which is indicative of the direction of interest rates in the future. HBL (up 2.80%) led the banking sector and was the biggest index mover of the day. The pharmaceutical sector continued its positive trajectory. Main gainers of the aforementioned sector were GLAXO (up 5.00%) and ABOT (4.13%). The automobile sector remained positive on the back of sales surging 20% YoY where HCAR (up 4.65%) rallied, observed analyst Arhum Ghous.

Volumes decreased by 16.3% to 165m shares as compared to 196m shares of the previous day, while value decreased by 23.6% to Rs 11.6b/$111m. DCL was the volume leader with 13.7m shares traded.

Auto sector gained due to healthy sales figures as HCAR and INDU closed at their upper limit of 5%. Cement stocks continue to attract investors as DGKC, MLCF and FCCL gained by 0.6% to 2.5%, said dealers at major brokerage.

Market analysts expect the market to continue its positive trajectory and keep exploring previously unchartered territory above current levels.