LAHORE - The Pakistan Stock Exchange closed slightly positive after another range-bound session as the index made an intra-day low and high of -336 points & +160 points, respectively, before closing +56 at 41,152 points.

Market will likely remain similar to outgoing week until any further developments are visible. On the economic front, International Monetary Fund (IMF) met with the officials of Finance Ministry and Federal Board of Revenue (FBR) as initial level discussion on macro-economic framework and revenue measures were held for new bailout package. Banking space closed higher than the previous day close where big banks boosted the index by 39 points. MCB (+1.90 percent), UBL (+0.03 percent), NBP (+0.08 percent) and BAFL (+0.83 percent) closed in green territory. Mixed sentiment was witnessed in cements where MLCF (+1.24 percent) and FCCL (+0.91 percent) closed in the green whereas KOHC (-1.47 percent), CHCC (-1.05 percent), DCL (-1.43 percent) and LUCK (-0.24 percent) closed in the red zone.

Car (including jeeps and pickups) sales in Oct-2018 went up by 6 percent, according to latest data released by the Pakistan Automotive Manufacturers Association (PAMA). PSMC (+2.07 percent) and INDU (+0.21 percent) were the major movers of the aforementioned sector.

Going forward, experts expect the market to depict a similar trend, therefore they recommended investors to see any downside in the market as an opportunity to buy in cement, consumer and banking sector.