LAHORE - The bourse closed its week on a positive note as benchmark KSE-100 index closed 396 points higher at 40,271 levels.

Market kicked off negative hitting the day's low of -24 points, while it later took a rebound, making a high of +513 points to finally close in the green. Volumes remained subdued as 125mn shares changed hands during the day. BOP (+5.75 percent) from the banking sector led the volumes with more than 18mn share exchanging hands.

On the economic front, the State Bank of Pakistan (SBP) reported that its reserves fell by $309 million to $9,480m during the week ended on July 6. Banking space led the optimism on the back of news that the monetary policy decision for the next two months will be announced on Saturday with expectations of some surge in key policy rate. As a result MCB (+5 percent), UBL (+5 percent), HBL (+5 percent), ABL (+4.93 percent) and BAFL (+4.72 percent) all closed at or near their respective upper circuits.

Mixed sentiments were witnessed in the cement sector, where DGKC (-1.23 percent), MLCF (-2.58 percent) and FCCL (-1.84 percent) closed in the red zone, whereas on the flipside LUCK (+0.42 percent) closed in the green zone.

Going forward, it is expected that market to exhibit volatility in the coming sessions due to overall ambiguities in the political environment, however any upside in the market can be considered as an opportunity to sell.