LAHORE - The Pakistan Stock Exchange (PSX) rallied for the fourth consecutive session on Thursday, with the benchmark 100-share index gaining 384.27 points to close above the psychological level of 45,000 points, at 45030.22 points.

Total volume increased by 10 percent to 228 million shares and value traded also inched up by 3 percent to $81m. Bull-run continued and across the board activity was seen in all key sectors such as chemicals, financials, OMCs and cement. Both local and foreign investors showed aggressive participation in the market, mainly triggered by recent round of rupee depreciation against the greenback. Top volume stocks during the day were TRG (+1.51 percent), LOTCHEM (+0.77 percent), and FFL (+4.39 percent). Interest was also seen in cements by investors where stocks such as DGKC (+3.07 percent), LUCK (+3.30 percent) extended gains on rumors of further price hikes. Apart from cements, interest also remained alive in the E&Ps where POL (+1.15 percent) and OGDC (+0.17 percent) performed amidst news of declining US oil inventory data and Middle East tensions, giving rise to expectations of further crude oil price increases.

Experts expect oil & gas and banking sectors to perform in the coming days and recommend investors to accumulate positions in value buys on dips.

They said that abrupt rise of the US dollar against Pak rupee in the forex market caught investors offguard during the last four days, helping sustain last week’s feeble bull-run. Whilst this raised macroeconomic concerns in the context of inflationary pressures and interest rates, depreciation was called for by almost every major international financial institution in the backdrop of Pakistan’s external account vulnerabilities and rapidly depleting foreign exchange (FX) reserves.