LAHORE - The KSE-100 index of Pakistan Stock Exchange closed the session on a positive note after trading range-bound, having climbed 585 points to close at 41,544 points, up by 1.4 percent. The index made an intraday high of 639 points. On the economic front, Finance Minister Asad Umar has said that talks were being held with Chinese counterparts for a relief package.

He also mentioned that the crisis of the balance of payment was over now and the two sides agreed on continuing discussions in this regard. Moreover, a delegation of the International Monetary Fund (IMF) arrived in Islamabad this morning where the delegates are into talks with the government on the finalisation of a bailout package.

Cements was at the lead where LUCK (+4.85 percent), DGKC (+5 percent), MLCF (+4.93 percent) and PIOC (+5 percent) all closed limit up. Banks also closed positive where HBL (+1.02 percent), MCB (+0.63 percent) and UBL (+1.48 percent) closed in the positive zone. Similarly, energy stocks, PPL (+2.01 percent) OGDC (+0.93 percent) and POL (+2.18 percent) also contributed +93 points to the index.

Traded value stood at $83 million (up 14 percent) while volumes clock in at 277 million, up 20 percent. Furthermore, major contribution to total market volume came from BOP (+5.62 percent), LOTCHEM (+5.42 percent) and PAEL (+0.31 percent).

Moving forward, experts expect investors’ sentiment to remain positive and recommend investors to wait for further developments on the economic front on the Pak-China event.