LAHORE: The Pakistan Stock Exchange (PSX) in its drive to recover losses has managed to gain 16 per cent in a months’ time. The outgoing week saw the benchmark KSE 100 index rise by around 3 per cent after the opposition protests could not damper investor confidence. Political clarity and interest from foreign investors have also fueled the recent rally.
The KSE 100 index in the last session of the trading week jumped 1.41 per cent or 622.25 points to touch the intraday high of 44,203.13. The index settled higher by 596.50 points at 44,177.38. The KMI 30 index accumulated 960.46 points during the day to close at 74,552.88. The KSE All Share Index landed 373.54 points in the green at 31,603.38. The advancers to decliners ratio stood at 264 to 102.
The total market volume was recorded at 209.17 million with Worldcall Telecom Limited (WTL +2.50 per cent) in the lead. The script had 12.96 million shares exchanged on the counter. Sui Southern Gas Company Limited (SSGC +3.26 per cent) followed with a volume of 12.22 million and Dewan Cement Limited (DCL -3.99 per cent) was next, with volumes of 11.38 million.
The week proved to be a good one for the cement sector where most of the scripts cut down on their losses.
Gharibwal Cement Limited (GWLC +4.97 per cent) was top gainer as it appreciated by 13 per cent during the week. Cherat Cement Company Limited (CHCC +4.46 per cent) elevated by 11.91 per cent and DG Khan Cement Company Limited (DGKC +3.89 per cent) increased by 9 per cent.
The pharmaceutical sector also posted healthy returns. GlaxoSmithKline Consumer Healthcare Limited (GSKCH +3.26 per cent) surged 9.19 per cent in the last five sessions, Sanofi-Aventis Pharmaceutical Pakistan Limited (SAPL +5.00 per cent) elevated by 7.54 per cent and Searle Company Limited (SEARL +5.00 per cent) rose 8.87 per cent in the same period.
Hinopak Motors Limited (HINO -2.30 per cent) declared financials for the third quarter ended December 31, 2017. The company posted a 6 per cent decline in quarter on quarter sales which coupled with a frog leap in finance cost pulled profits down 51 per cent. Earnings per share fell from Rs 31.79 in the last quarter and Rs 36.23 in the same period last year to Rs 15.43.
