LAHORE  -   The market movements were reflective of a seesaw, where the KSE 100-index juggled between green and red, making an intraday low of -123 points, and an intraday high of +91 points to close at 40,265 points (down 24 points).

Total volume was recorded at 156m shares, down 37% from the last session. BOP (+0.5%) and PIBTL (-0.5%) led the volumes with almost 44m shares changing hands. On the news front, the State Bank of Pakistan (SBP) confirmed that Pakistan has received $1 billion from UAE to help bridge country's current account deficit. ISL (-0.4%) from the steel sector declared its 1HFY19 result, where the company posted an EPS of Rs4.02 and a cash payout of Rs1.50 per share which came in line with our expectations. Investors' interest was witnessed in HBL (+0.9%) and UBL (+3.2%) from the banking space which cumulatively contributed +63 points to the index. Cement sector witnessed profit booking where FCCL (-1.8%), PIOC (-1.1%), DGKC (-1.0%), CHCC (-0.5%) and LUCK (-0.7%) lost value to close in the red zone.

Moving forward, experts recommended investors to remain cautious and reduce short term positions on strength and wait for technical breakout.