KARACHI -  The Pakistan Stock Exchange (PSX) witnessed yet another day of lackluster activity, with the KSE-100 Index crawling up 0.1 percent or 45 points to close at 40,499 level.

After an anxious start, market gained 388 points from yesterday’s close to a high of 40,842 index points but closed at 40,499 index level 45 points or (up 0.11pc) as investors adopted a cautious approach before the court hearing, dealers said. Political climate became more complex with news of former prime minister Nawaz Sharif arriving in the country to face accountability court. E&Ps were in the limelight, with PPL (up 4.8pc) and OGDC (gain 4.6pc) cumulatively adding 177 points to the KSE-100 index on news of rising international crude oil prices, said dealer at JS Global.

Top 5 index point contributors were OGDC (up 4.6pc), PPL (gain 4.8pc), AICL (up 5pc), PSO (rose 1.6pc) & MARI (up 1.2pc) adding 215 points, while top 5 index laggards were PAKT (down 5pc), TRG (dip 4.7pc), PAEL (slip 4.4pc), BAHL (down 0.9pc) & ENGRO (slump 0.6pc) withholding 70 points.

Within sectors, index heavy oil & gas exploration sector added 185 points on expectations of a further increase in international oil prices. On the other hand, cements and tobacco Sectors cumulatively withheld 49 points. According to SBP, the total liquid foreign reserves of country stood at $19.8 billion ($19.9b last week) as of October 27, 2017. SBP’s reserves decreased by $95 million to $13.8 billion due to external debt servicing and other official payments, said analyst at Topline Securities.

Revision in local POL prices and institutional support in insurance scrips after SBP rules on dollar denominated insurance policies supporting FX reserves and scrips gaining from regulatory duties on imports played a catalyst role in higher close at PSX, stated analyst Ahsan Mehanti.

Volumes remained subdued, reflecting little change from yesterday as 117 million shares exchanged hands during the day in the backdrop of political uncertainty.