LAHORE - The activity was seen in cement, chemical and banks with investors flocking to select names. A positive vibe was also there ahead of oath taking ceremony of Pakistan's Prime Minister in waiting Imran Khan who has now been officially nominated for Pakistan's PM candidate in PTI's Parliamentary committee meeting.

Interest was seen in cement sector as weak Free-on-Board (FOB) Richards Bay coal future price is down by $5/tonne to $102/tonne over a week due to a temporary slowdown in China's appetite. Consequently, the sector contributed 81pts to the index gain.

Apart from cements, Banks and Fertilizer cumulatively added 124 pts to the index gain. ENGRO and DAWH closed up 2.5percent and 2.4percent respectively while UBL and MCB ended +1.2percent and +0.9percent, respectively. To note, banking stocks came under pressure last week owing to distressed bank earnings. Trading volumes and value were down 24percent and 29percent, respectively in Monday's session.

The Economist Intelligence Unit (EIU) expects that a bailout package from IMF will be hard to come by, owing to political resistance from both the US and China. Pakistan instead is likely to introduce much tighter controls over imports and to cover its current-account deficit through bond issuance and borrowing from commercial and bilateral partners, with China playing the key financing role.