The PSX recovered Friday as the index made an intraday high of +592 points to finally close down to 42,447 levels, gaining 486 points. Cements pushed the market skyward after the news came in that Chinese company have agreed to extend support in Diamer-Bhasha Dam’s construction. Moreover on the economic front, Pakistan’s total liquid foreign exchange reserves slipped below $17 billion. The country’s total liquid forex reserves declined by $292 million to $16.713 billion compared to $17.005 billion in the previous week. Furthermore, rating agency Fitch has shown concerns that the new incoming government of Pakistan Tehreek-e- Insaaf (PTI) may face tough economic tasks due to deterioration in external finances and fiscal challenges. DG khan (DGKC) gaining 5 percent closed at its upper limit whereas Bestway Cement (BWCL gaining 4.09 percent and Fauji Cement Company Limited (FCCL) gaining 4.91 percent closed near their respective upper limits in the cements. Moreover, in the financials, mixed sentiments were seen where Habib Bank Limited (HBL) losing 0.14 percent closed in the red, however MCB Bank gaining 0.89 percent, and Unite Bank Limited (UBL) gaining 2.36 percent closed positive. Bank of Punjab (BOP0 gained 6.04 percent following the announcement of first half 2018 consolidated EPS of Rs.1.46. Today’s major heavyweights namely, PPL (+0.55%), OGDC (+0.61%), ENGRO (+1.09%), MCB (+0.89%), UBL (+2.36%), LUCK (+2.17%) and FFC (+0.24%) cumulatively contributed +137 points. Traded volumes marginally increased by 37 percent day-on-day (DoD) to 194 million shares while value traded increased to $ 65 million. Top volume stocks were BOP (+6.04%), UNITY (+4.98%) and EPCL (+2.53%). An equity analyst Danish Ladhani expects market to remain in the green zone on further clarity over the political front. Published in Daily Times, August 18th 2018.