LAHORE
The Pakistan Stock Exchange (PSX) in its last session of the week traded both sides and the benchmark KSE 100 index closed little changed. The index inched higher by a minor 2.92 per cent during the outgoing month with low volumes as politics dragged investor confidence lower. Foreign investors ended net buyers according to data released by the National Clearing Company of Pakistan until September 28. The net buy value stood at $ 28.86 million. Mutual Funds were top sellers with an outflow of $ 14.35 million.
The KSE 100 index touched a peak of 42,543.20 with a gain of 180.33 points and trough of 42,286.60 after a 76.27 point loss. It settled 46.40 points higher at 42,409.27.
The KMI 30 index appreciated by 57.27 points and the KSE All Share Index was up 105.88 points.
A total of 210 scripts advanced while 117 declined.
The market volumes improved 23 per cent on day to day basis and clocked at 172.88 million.
K-Electric Limited (KEL +5.86 per cent) was back on top of the chart followed by the Bank of Punjab (BOP +3.12 per cent) and Pakistan International Bulk Terminal Limited (PIBTL +1.17 per cent). Pharmaceutical sector was top performer which added 2.85 per cent to its market capitalisation.
The Searle Company Limited (SEARL +5.00 per cent) impressed shareholders with its payout announcement. The board approved a final cash dividend of Rs 8.00 per share in addition to interim dividend of Rs 2.00 per share along with a final bonus issue of 20 per cent in addition to the interim issue of 10 per cent.
On an operational basis, company sales improved 13 per cent to Rs 10.75 billion during the financial year 2017 but gross profit margin remained flat at 39 per cent. Net profit jumped 26 per cent with a 29 per cent increased other income. The other income to PAT ratio stood at 88 per cent and earnings per share were reported at Rs 17.14.
As of Monday, October 2, the KSE 100 index shall be recomposed based on the free float methodology. Scripts coming in include Gadoon Textile Mills Limited (GADT -0.98 per cent), International Industries Limited (INIL -0.64 per cent), Amreli Steels Limited (ASTL +0.04 per cent) and Atlas Honda Limited (ATLH +0.30 per cent). The outgoing companies include Ferozsons Laboratories Limited (FEROZ +5.00 per cent), Arif Habib Corporation Limited (AHCL +0.80 per cent), Service Industries Limited (SRVI 0.00 per cent) and Indus Dyeing Manufacturing Company Limited (IDYM +4.99 per cent).
