LAHORE: The Pakistan Stock Exchange (PSX) witnessed another confused session as the indices were seen oscillating in both directions and the day ended in Green. As the country’s political situation appears to be on snooze post general elections, the market continued to trade range bound.
Foreign investors ended Wednesday with a net outflow of $16.56 million taking the total net sell value for the week (first three sessions) to $23.01 million against previous week’s net sell of $14.62 million. They have sold a net amount of $261.44 million in the past one year.
The KSE 100 touched intraday low of 42,696.35 minutes after the session started. The index managed to gain 192.09 points and ended at 42,923.95.
The KMI 30 index gathered 610.31 points and settled at 73,910.98. The KSE All Share index inched up by 34.13 points. The advancers to decliners ratio stood at 220 to 140.
An inflation of 8 per cent in the market volume was seen from the last session and was recorded at 206.17 million on Thursday. Pak Elektron Limited (PAEL +2.63 per cent) led the volume table with 12.24 million shares exchanged. Lotte Chemical Pakistan Limited (LOTCHEM +0.64 per cent) and The Bank of Punjab (BOP +0.69 per cent) followed with 9.05 million and 8.83 million shares traded.
The cement sector managed to gain 2.56 per cent in its cumulative market capitalization. Maple Leaf Cement Factory Limited (MLCF +4.99 per cent) touched its upper-lock. Lucky Cement Limited (LUCK) and D. G. Khan Cement Company Limited (DGKC) appreciated by 2.58 per cent and 2.95 per cent respectively. While Fauji Cement Company Limited (FCCL +3.40 per cent) also ended the day positive.
The Commercial Bank sector declined by a minor 0.03 per cent. United Bank Limited (UBL -1.31 per cent), Bank AL Habib Limited (BAHL -1.03 per cent) and Meezan Bank Limited (MEBL -0.69 per cent) all ended in red.
Allied Bank Limited (ABL +1.46 per cent) announced its financial results for the second quarter ended 30th June, 2018. The company declared Rs 2.00 interim cash dividend per share. The company’s revenue was up by 6 per cent YoY. While the earning per share increased from Rs 2.51 in the last year to Rs 2.95 in current year (an increase of 18 per cent from last year).
