LAHORE - PSX closed positive after a range-bound trading session as the index made an intraday low and high of -185 and +228, respectively.

On the economic front, the two tax amnesty schemes, Voluntary Declaration of Domestic Assets Act, 2018 for undisclosed income and domestic assets & Foreign Assets (Declaration and Repatriation) Act, 2018 for undisclosed foreign assets have expired on July 31, 2018. Key sectors including Cements, OMCs drove the market by institutional flows, where LUCK (+0.50percent) and DGKC (+4.02percent) closed positive. Financials saw some respite at bottom after some profit-taking witnesses yesterday.

HBL (-0.84percent), MCB (-0.99percent) and UBL (-1.38percent) closed in the red where MCB announced 1H2018 EPS at Rs7.95 down 30percent YoY with interim DPS of Rs4, taking cumulative 1H DPS to Rs8. Today's major heavyweights namely, OGDC (+1.04percent), LUCK (+0.50percent), PSO (+1.84percent) and EFERT (+0.34percent) cumulatively contributed +51 points. Traded volumes slightly improved by 1.4percent DoD to 278million shares while value traded decreased to $85million. Among the top volume stocks were EPCL (+2.68percent), FFL (+4.54percent), PAEL (+4.07percent) and FCCL (+4.04percent). Moving forward, it is expected market to remain range bound with flows from local and foreign institutions directing the market.

Experts recommend investors to accumulate valued stocks on dips.