LAHORE: The Pakistan Stock Exchange (PSX) took a breather on Tuesday but settled in the green. The benchmark KSE 100 index, which has been on a rise since about a month looked weak early morning but managed to recover in later hours of trading.
The KSE 100 index dropped 432.38 points to intraday low of 44,465.31 but regained losses near close. It concluded the day up a minor 9.51 points at 44,907.20. Meanwhile, the KMI 30 index swung between a negative 488.37 points and positive 229.19 points to end at 76,156.96. The KSE All Share Index ended the session higher by 59.21 points at 32,106.12. The advancers to decliners ratio stood at 186 to 162.
The market volumes came down to 226.44 million from 294.35 million compared to the previous session. Sui Southern Gas Company Limited (SSGC +1.72 per cent) was top traded and fetched volume of 13.58 million. Dewan Cement Limited (DCL +4.99 per cent) followed with a volume of 12.86 million and Pak Elektron Limited (PAEL +2.23 per cent) was next with 12.36 million shares.
Honda Atlas Cars (Pakistan) Limited (HCAR -4.95 per cent) went downhill after declaration of financials for the period ended December 31, 2017. The automobile giant posted a 4.77 per cent drop in sales compared to the last quarter but a 39 per cent rise compared to the same period last year. Net profit declined 12 per cent QoQ and 5 per cent YoY to post per share earnings of Rs 9.92.
International Steels Limited (ISL +2.15 per cent) came out to announce the establishment of Product Service Centre in both Karachi and Lahore. The project shall cost Rs 675 million and is expected to complete in twelve months.
The company also announced financials for the second quarter of the financial year 2018. Earnings per share were recorded at Rs 2.71, higher than Rs 2.31 in 1QFY18 and Rs 1.37 in 2QFY17.
