Market Daily: KSE 100 breaks past 45,000 points mark

LAHORE: The Pakistan Stock Exchange (PSX) saw another shaky day settle just the right way here on Wednesday. The benchmark KSE 100 index which rallied 587.32 points to touch 45,494.52 points early morning soon reversed all gains by afternoon, trading down 125.37 points at its intraday low of 44,781.83.

The KMI 30 index also traded both ways, a maximum rise of 1.55 per cent and fall of 0.58 per cent, before it concluded the session up just 0.09 per cent or 65.94 points. The KSE All Share Index settled higher by 144.15 points with 214 advancers and 139 decliners.

The market volumes frog leaped from previous sessions 226.44 million to 339.67 million. TRG Pakistan Limited (TRG -0.14 per cent) was a clear leader on the volume charts, with 29.05 million shares being traded while next on the board was Fauji Cement Company Limited (FCCL +4.98 per cent) with 18.69 million shares exchanged.

The refinery sector was the top performer of the session as it added 3.93 per cent to the sector cumulative market capitalisation. Food and personal care sector topped up its market cap with 3.70 per cent and cement sector with 3.60 per cent. The oil and gas exploration sector disappointed as its market cap slid lower by 2.01 per cent.

Pakistan Oilfields Limited (POL -5.00 per cent) slipped to its lower circuit breaker post declaration of financials for the second quarter of 2018. Sales contracted by 17.14 per cent quarter on quarter and 15 per cent year on year, meanwhile earnings per share clocked at Rs 20.13 along with an interim cash payout of Rs 17.50.

ICI Pakistan Limited (ICI -4.55 per cent) also failed to impress investors with its poor financial performance. The company announced per-share earnings of Rs 7.82 against Rs 9.95 in the same period last year.

Attock Petroleum Limited (APL -0.63 per cent) although extended earnings per share on a quarter on quarter basis from Rs 16.04 to Rs 17.85 but was down from Rs 19.21 in 2QFY17.

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