Market Daily: KSE 100 eyes 45,000, gains 718.86 points

LAHORE: Bulls of the Pakistan Stock Exchange (PSX) strengthened their dominance on Monday. The market jumped to gather points and attracted handsome volumes. Massive net buying of $ 82.49 million from foreign investors during the ongoing month has helped uplift investor confidence. Such buying was not seen throughout 2017. Not to forget, low noise from the political sphere has also been a positive contributor.

The KSE 100 index appreciated to 44,951.21 after 772.38 point increase intraday. It settled higher by 718.86 points at 44,897.69. The KMI 30 index inflated by 1.83 per cent or 1,391.18 points to 75,927.77 and the KSE All Share Index was up 451.48 points. The advancers to decliners ratio stood at 275 to 91.

The market volumes improved from 209.47 million in the last session to 294.35 million. Amtex Limited (AMTEX +44.62 per cent) was the top pick of investors with 19.70 million shares exchanged, TRG Pakistan Limited (TRG +4.69 per cent) followed with 15.35 million volume and Power Cement Limited (POWER +8.16 per cent), volume 15.99 million was up there too.

The cement sector was the unmatched star of the session. The sector pushed up its market capitalisation by 4.22 per cent. Bestway Cement Limited (BWCL +5.00 per cent), D. G. Khan Cement Company Limited (DGKC +4.99 per cent), Maple Leaf Cement Factory Limited (MLCF +5.00 per cent), Cherat Cement Company Limited (CHCC +4.99 per cent), Attock Cement (Pakistan) Limited (ACPL +4.99 per cent) and Pioneer Cement Limited (PIOC +5.00 per cent) all hit the upper circuit breaker price.

Big names from the Attock Group including National Refinery Limited (NRL -0.42 per cent), Attock Cement (Pakistan) Limited (ACPL +4.99 per cent), Attock Refinery Limited (ATRL -0.43 per cent) are scheduled to declare financials tomorrow. Also, Honda Atlas Cars (Pakistan) Limited (HCAR +1.83 per cent) is expected to announce Q3 results on Tuesday.

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