KARACHI: Pakistan Stock Exchange (PSX) inched up on Monday with benchmark KSE-100 Index settling above 45,500 points level albeit in a dull trading session. The KSE 100-index traded between an intraday low of -23 to an intraday high of +272 points to close at a level of 45,529, up 235 points. Stocks opened positive and witnessed range-bound trading as the day progressed with wider market trading in a narrow band of 300 points. Uncertainty on domestic politics was much to blame as it contributed to a lackluster session with very selective institutional participation as most locals refrained from participating aggressively amid looming verdict of Panama case, said Elixir Research’s analyst. He expects institutional flows to mainly guide market direction going forward while prevailing anxiety on domestic politics will keep activity of wider market in check. Index names generated little interest while retail driven speculative small caps led volumes. Moreover, inline with expectations, weekend monetary policy announcement with State Bank of Pakistan maintaining benchmark borrowing rate at 5.75 percent had no impact on the market. JS Research analyst said a lackluster session was witnessed in the market on Monday as volumes stood at 106 million shares. Oil & Gas Development Company Limited (OGDCL) gaining 0.33 percent and Pakistan State Oil (PSO) gaining 1.24 percent gained as their bonds matured and announcements of bright investment prospects are made. Exploration & Production (E&P) sector stocks including OGDC with 0.33 percent, Pakistan Oil Filed (POL) with0.85 percent gain, and Pakistan Petroleum Limited (PPL) with 0.52 percent closed in the green zone as oil prices increased globally after the Organization of the Petroleum Exporting Countries (OPEC) committee meeting. International Industries Limited (INIL) with 3.80 gains, International Steel Limited (ISL) with 1.55 percent gain and Aisha Steel Mills Limited (ASTL) with 2.03 percent gain from the steel sector closed in green. Investor sentiments have been driven by developments on the political front, where investors are now speculating on expectations regarding the reserved Supreme Court decision. The rollover week has limited the upside on certain stocks and participation is also expected to remain low. However, the result season is expected to boost volumes in key sectors such as power, cements and autos. Investors are recommended to remain cautious until the final judgment on the case is announced, the JS Research’ analyst added. Published in Daily Times, July 25th , 2017.