Positive momentum persisted at Pakistan Stock Exchange (PSX) on Monday, the first trading day of the week, as index gained another 98 points and closed at 46,010 points.

HBL (down 5%) closed at its lower circuit on account of rumours of any penalty imposed on the bank due to compliance issues in its New York branch.

LUCK (down 0.50%) posted its financial results for FY17 in which the company reported an EPS of Rs42.34 and a dividend of Rs12/share, in line with market expectation.

FFC (down 4.50%) shed points as financial results for 1H2017 announced by the company did not meet investor expectations. FFC reported an EPS of Rs2.82 and interim dividend of Rs1/share, observed analyst at JS Global.

Top 5 index point performers were SNGP (up 4.6%), ENGRO (2.2%), OGDC (1.9%), MARI (3.3%) & HUBC (up 1.4%), adding 168 points; while HBL (down 5%), FFC (4.5%), PPL (1.3%), UBL (0.8%) & INDU (2.2%) held back 282 points (out of which HBL/FFC was 181/52points).

Stocks closed higher amid investor speculation on new PM election in the National Assembly after PM resignation on disqualification verdict by Supreme Court in Panama Paper case, said analyst Ahsan Mehanti at Arif Habib Corp.

Late session pressure was witnessed in banking stocks on reports of falling banking spreads. Record rise in global crude prices and upbeat financial results in the energy and auto sectors played a catalyst role in bullish close, he added.

Participation sustained Friday’s levels with volumes at 319m shares (down 3% d/d) while traded value shed 11% to Rs18.8b/$178m. ANL led the volume with 33 million shares of the textile stock changing hands.