KARACHI - Continuing its record-breaking bull-run, Pakistan Stock Exchange extended its previous day’s gains on Thursday as it rallied by around 173 points and closed at a new high of 46,358 points.

Most of the intra-day gains were lost as investors preferred to book their profits in line with the bearish trend in the international markets after FED increased its interest rates by 25 basis points. Investor interest was seen in textile sector as dollar gained against Pak rupee in the currency market.

NML (up 5%) and NCL (3.73%) were top performers. Automobile sector gained on the back of decline in Yen, as the sector gained to close 1.1% higher from its previous day’s close. PSMC (up 5%) and HCAR (1.46%) were major gainers of the aforementioned sector. Intra-day day rally was witnessed in the E&P sector on the back of surge in crude oil prices during the day. PPL (up 1.23%) and OGDC (0.99%) were major index movers from the aforementioned sector, said analyst Nabeel Haroon. Overall, volumes decreased by 6% to 340m shares, while value increased by 2% to Rs19b/$185m. There was late session pressure amid concerns for foreign outflows, volatile global crude oil prices after US Fed hiked interest rates. Higher global crude prices amid output cut agreements by Opec-Non Opec producers, rising banking spreads, record local cement sales in Nov'16 played a catalyst role in record close, said analyst Ahsan Mehanti.