LAHORE
In an exciting day of trading, the benchmark KSE 100 index settled beyond the 43,000 psychological level. Market participation almost doubled with low and mid-tier stocks attracting investors’ interest.
The KSE 100 index surged 456 points intraday to touch the peak of 43,297.41 points and settled 411.85 points higher than the previous close at 43,253.26.
The KMI 30 index jumped 759.71 points higher and the KSE All Share Index gained 250.50 points. The advancers to decliner’s ratio stood at 236 to 112.
Market volumes appreciated to 218.57 million from last sessions 113.79 million as Dost Steel Limited (DSL +5.00 per cent) led the chart with 27.29 million shares traded.
D. G. Khan Cement Company Limited (DGKC +0.47 per cent) reported contraction in profits for the financial year 2017. The company managed to boost sales by a minor 1.46 per cent to Rs 30.14 billion but higher costs dragged gross profit margins lower from 43 per cent to 39 per cent. Operating profit margins deteriorated to 38 per cent and the 9 per cent fall in net profits brought net profit margins down from 30 per cent to 26 per cent. Earnings per share clocked at Rs 18.20. The management approved a cash dividend of Rs 7.50.
Burshane LPG (Pakistan) Limited (BPL -0.98 per cent) reported sales of Rs 1.83 billion down 9 per cent from the previous year. Gross profit margins improved to 11 per cent from 7 per cent and operating profit margins jumped to 5 per cent from 1 per cent. It reported a net profit of Rs 2.90 million against Rs 7.55 million loss last year. Earnings per share clocked at Rs 1.29.
Balochistan Wheels Limited (BWHL +5.00 per cent) smashed the upper circuit breaker price despite an 18 per cent fall in net profits to Rs 1.26 million. Sales inched up by 4.22 per cent and earnings per share was recorded at Rs 4.98. The management approved Rs 4.00 per share cash dividend.
