LAHORE: Investors at Pakistan Stock Exchange (PSX) turned a blind eye to protestors taking the streets in Lahore. The indices continued their drive uphill. After a shaky second half of 2017, the KSE 100 index has recovered around 15 per cent in just about a month. Foreign investors who remained net sellers for a major part of the last year have been net buyers in the past 4 weeks. Local mutual funds have also been net buyers in recent times.
The KSE 100 had a slow start to the day and marked an intraday low of 42,874.39 after a loss of 65.29 points. Soon it was back on track and jumped 446.59 points to intraday high of 43,386.27. The index settled higher by 419.29 points at 43,358.97. The KMI 30 index gathered 768.07 points to end at 73,283.21 while the KSE All Share Index appreciated 264.44 points. The advancers to decliners ratio stood at 238 to 114.
The market volumes were recorded at 1651.34 million. Pace (Pakistan) Limited (PACE -4.21 per cent) after trading was restored in the script led the volume chart, volume 10.94 million. Azgard Nine Limited (ANL +4.09 per cent) was not too far behind with 10.35 million shares. The commercial banking sector was a top pick for investors and cumulative volume of the sector was 17.66 million.
Keeping the momentum from the previous session cable and electronics goods sector added 2.42 per cent to its cumulative market capitalisation. Pakistan Cables Limited (PCAL) was top gainer as it stroke its upper circuit breaker price. Pak Elektron Limited (PAEL +2.52 per cent) and Singer Pakistan (SING +1.94 per cent) also posted decent gains.
The chemical sector inflated its market cap by 2.38 per cent, engineering by 2.37 per cent but the sugar sector dropped again. The sector axed 3.09 per cent from its market cap.
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