KARACHI: On a fourth consecutive day of bullishness, the KSE-100 index gained 320.54 points or 1.21 per cent to settle at 26,842.53 on Thursday, which was close to the intra-day high at 26,881.45.

While all through the session, the index did not once dip below the previous day’s closing, the strong run up on Thursday was thought to indicate that the current upward momentum could continue.

Samar Iqbal, Senior Manager Equity Sales at Topline Securities stated that rising interest in the IPO market coupled with strengthening of the rupee gave boost to investors’ sentiments.

Analyst pointed out that in consecutive four days the benchmark index has gained over 1,000 points.

The foreign investors decided to take profit on Thursday, resulting in outflow of $2.12 million. Among locals, companies also decided to lighten portfolio and offloaded shares valued at $3.98 million.

On the other hand, banks, mutual funds and individuals took a steady view with net purchases of equities on Thursday.

Cements stocks were again in the lead with Lucky and Fauji up while DGKC and Cherat down. Banking, a close runner up, also showed good performance. NBP closed at its upper circuit, following two lower locks, after the bank declared lower-than-expected results. HBL and UBL also appricaited. In oil & gas, POL and PSO continued to climb while ATRL and Mari pulled back. Textile sector was the third, after banking and cement to indicate intense activity.

Ahsan Mehanti at Arif Habib Corp. stated that bullish activity sustained at KSE led by stocks across the board following global stocks surge. The US plans for $280m military aid, favourable CPI data for Feb’13, easing tensions on Russia & Ukraine crises and resumption of peace talks with TTP through proposals for new committee to deal with militancy, played a catalyst role in bullish activity at KSE.