LAHORE  -   Pakistan equities closed last trading session of the week on a positive note with benchmark KSE100 Index settling at 38,562 levels, up 0.7 percent.

KSE 100 index lost 521 points in the first half but gained in the second half. On the economic front, country's total liquid foreign exchange reserves fell by $576 million during last week, mainly due to external debt servicing.

Attractive valuation stirred value hunting in today's session where buying interest was seen in Cements and Financials. In the Cement sector, LUCK (+4.5 percent), DGKC (+5 percent) and PIOC (+5 percent) closed at their respective upper circuits. Mixed sentiments were seen in the Financials where HBL (+0.8 percent), and UBL (+0.04 percent) closed in the red; whereas MCB (+0.8 percent) and BAHL (+0.7 percent) closed in green zone.

Higher weight stocks such as LUCK (+4.5 percent), FFC (+2.9 percent), ENGRO (+2.2 percent) and MCB (+0.8 percent) cumulatively contributed 150 points towards the index. Energy stocks were the major dampeners today where POL (-1.9 percent), PPL (-2.5 percent) and OGDC (-2.3 percent) closed in the red zone. Average daily traded value stood at $48 million, down 26 percent and volume stood at 129 million shares, down 32 percent. Furthermore, major contribution to total market volume came from KEL (+6.8 percent), PAEL (-0.4 percent) and LOTCHEM (+0.2 percent).

Moving forward, it is expected that market to remain choppy and volatile on the back of serious economic concerns where we contemplate increase in CAD, currency devaluations, IMF stringent terms and conditions, mowing down of development budgets, inflationary pressure with further cut down in the growth rate.