Karachi: Bullish momentum continued at Pakistan Stock Exchange (PSX) as benchmark KSE-100 Index was up 0.8 percent. However, both volume and value of shares traded declined from previous session. At close, benchmark index settled at 45,514.95, an increase of 359.15 points.

Across-the-board buying was witnessed in index-heavy sectors including automobile assemblers, cement, chemical, commercial banks, oil and gas exploration companies and OMCs, while pharmaceutical and technology sector remained in red.

Sectors driving benchmark index upwards included banking (183.06 points), power generation and distribution (71.34 points) and oil and gas exploration (61.37 points)

Volume on all-share index declined to 450.3 million from 555.1 million on Tuesday, while value of shares traded dropped to Rs 13.1 billion from Rs 15.5 billion recorded in previous session.

WorldCall Telecom was volume leader with 49.9 million shares followed by Unity Foods Limited with 20.3 million shares and Pak International Bulk with 18.2 million shares.

Shares of 359 companies were traded of which 173 registered an increase, 163 recorded fall and 23 remained unchanged.

Development comes day after benchmark index, boosted by $ 2 billion inflows deposited by Saudi Arabia in Pakistan's central bank, rallied to over 45,000 for first time since April 2022 on Tuesday.

Market experts said investors are hopeful that International Monetary Fund's Executive Board would approve  9-month stand-by arrangement of $ 3 billion for Pakistan.