Pakistan’s equities closed on Monday in green, with benchmark KSE 100 Index gaining 84 points (0.3%). The local bourse kicked off on a negative note where the market nosedived, making a low of -814 points but later recovered 898 points to finally close at the 33,250 level. An equity analyst at Next Capital said the index started the day downwards, hitting an intra-day low of negative 814 points (-2.45%) during the first half of the trading session amid news reports of Kekra-1, the hyped offshore well, been found dry. However, the bearish sentiments proved short-lived and the index again turned positive in the final trading hour amid bargain hunting by investors and news reports of a proposal for a sovereign market support fund.The market was under the duress as the rupee further plunged to hit an all-time low of Rs152 against a dollar in the open market. E&Ps were the major laggards where OGDC (-1.2%) closed red and PPL (-4.8%) closed near limit down as the exploration at the Kekra-1 well off the coast of southern Pakistan has been abandoned.Benchmark index closes at 33,250 level following recovery of 898 pointsMixed sentiment was seen in Cements where LUCK (+0.5%) and DGKC (+0.7%) closed in the green zone while CHCC (-4.5%) closed near limit down. Similar sentiments were seen in the Financials as investors await the decision of the Monetary Policy Committee meeting regarding interest rates hike.HBL (+2.2%) and UBL (+2.2%) closed in the green zone, whereas MCB (-1.7%) and BAHL (-0.3%) closed in the red. ENGRO (+2.6%), HBL (+2.2%), UBL (+2.2%), PSO (+3.9%) and SNGP (+5%) were top scrip to contribute to the positive closing.Daily traded value stood at $41 million, up 100 percent and volume stood at 165 million shares, up 83 percent. Furthermore, major contribution to total market volume came from KEL (+6.3%), TRG (-2.0%), UNITY (+12%), LOTCHEM (+1.3%) and PIBTL (+11%).Maaz Mulla, an equity analyst, expects market to remain choppy and volatile ahead and recommends investors to stay cautious ahead of FY 2019-20 budget.