LAHORE - In continuation to previous day's declining trend, the 100-share index of the Pakistan Stock Exchange further slipped during the trading hours to make an intra-day low of 727 points. However, the market later recovered to close at 39,453 points, up 164 points.

Recovery in the market came as optimistic investors came in to accumulate positions at attractive levels. Traded volumes slightly improved by 36 percent DoD to 168m shares while value traded increased to $66m. Top volume stocks were FCCL (-0.61 percent), EPCL (-1.16 percent) and DGKC (-2.16 percent). Major contributors to the index were HBL (+2.91 percent), PPL (+2.83 percent), OGDC (+1.81 percent), POL (+1.28 percent) and UBL (+1.13 percent) as they cumulatively contributed +196 points to the index.

Recovery was witnessed in the cement sector on the back of news of price increase of Rs15 per cement bag in the northern region. LUCK (+1.22 percent), PIOC (+0.14 percent) and CHCCC (+1.10 percent) were the major gainers of the mentioned sector.

Investors' interest was seen in the banking sector where HBL (+2.91 percent), UBL (+1.13 percent) and FABL (+4.98 percent) closed in the green zone. E&P sector inched up on the back of increase in international crude oil prices trading above 74.16 USD/bbl. PPL (+2.83 percent), OGDC (+1.81 percent) and POL (+1.28 percent) were the major movers of the sector.

Experts expect market to exhibit volatility in the coming sessions due to overall ambiguities in the political environment.