LAHORE - Bulls continued control in the local bourse last day of the week by taking the index up 756 points during the day, to close at 42,786 level (up 697pts).  Overall volumes increased by 52 percent from previous trading session, while in value terms the same increased by 52 percent as well.

Friday's major volume leaders were PIAA (+17 percent), WTL (+9.50 percent) and PIBTL (+8.54 percent). Major contribution to the index came from HBL (+4.24 percent), LUCK (+4.48 percent), UBL (+2.48 percent), HUBC (+3.45 percent) and PSO (+2.76 percent) cumulatively contributing +295 points to the index. This positivity in the market can be attributed to the results of General Election 2018, where Pakistan Tehreek-e-Insaf (PTI) has retained its considerable edge over its contenders, bagging 114 of the total 270 seats on which elections were held, according to the preliminary results announced by the Election Commission of Pakistan (ECP).

Cement sector led the optimism, where many stocks closed at their respective upper circuits. DGKC (+5 percent), KOHC (+5 percent), MLCF (+5 percent), FCCL (+5 percent) and LUCK (+4.48 percent) were the major movers of the mentioned sector. Active participation was witnessed in the banking sector by the local and foreign investors where HBL (+4.24 percent), UBL (+2.48 percent), NBP (+0.87 percent) and MCB (+0.48 percent) all closed in the green zone. Going forward, we expect the market to depict a similar trend, therefore recommend investors to see any upside in the market as an opportunity to sell.