LAHORE: The indices leapt and closed in the green. Investors took a deep breath as it was a good day today and the market finally recovered from the slump over the last few days. The market welcomed the end to uncertainty as the court indicted former Prime Minister Nawaz Sharif on corruption charges over allegations linked to ownership of London properties.
Similar to the session on Wednesday market surged in the last trading hour and volumes frog leapt. The long cry of low liquidity in the market came to a halt when total traded volumes bounced to 232.17 million from just 138.11 million in the last session.
K-Electric Limited (KEL -0.16 per cent) maintained its dominance over the volume chart with 29.67 million shares exchanged and the next company to follow was Engro Polymer and Chemicals Limited (EPCL +4.81 per cent) which was far behind, the script had 18.96 million shares exchange hands.
The KSE 100 index appreciated by 824.62 points to 41,558.07 close to its intraday high of 41,614.28. The KMI 30 index added 2.72 per cent to reach 70,818.74 while the KSE All Share Index was higher by 514.24 points. The advancers to decliners ratio stood at 272 to 71.
Refinery sector was star performer of the day which increased its market capitalisation by 4.98 per cent. Byco Petroleum Pakistan Limited (BYCO) swelled up by 4.67 per cent, Pakistan Refinery Limited (PRL) appreciated by 4.52 per cent, Attock Refinery Limited (ATRL +5.00 per cent) landed at its upper circuit breaker and National Refinery Limited (NRL) clinched 4.97 per cent.
National Refinery Limited (NRL +4.97 per cent) and Attock Refinery Limited (ATRL +5.00 per cent) both declared financials for the quarter ended September 30, 2017.
APL posted sales of Rs 38.53 billion against Rs 31.50 billion in the same period last year. This resulted in profit after taxation of Rs 1.30 billion down 15 per cent YoY. Earnings per share clocked at Rs 16.04. ATRL recorded sales of Rs 27.40 billion and profit after taxation of Rs 7.58 million. Earnings per share hit Rs 8.89.
