LAHORE: It was an exciting day for the investors of the Pakistan Stock Exchange (PSX) where bulls finally gave up on sleep and took control of the market. The indices moved in the upward trajectory from the start and ended the day in Green.
The KSE 100 touched intraday high of 42,552.04 after gaining 592.04 points. The index appreciated by 485.82 points in the session to close at 42,446.62. The KMI 30 index was up by 880.06 and settled at 72,638.60. While the KSE All Share Index managed to gain 304.10 points and ended at 30,726.09.
The market volume saw an inflation of 36 per cent from the previous session and was recorded at 193.65 million. The Bank of Punjab (BOP +6.04 per cent) led the volume chart with 38.97 million as the company released its financial results for the 2QFY18. Revenue surged up by 26 per cent from the previous year. While the earning per share saw a massive increase of 75 per cent YoY (2QFY17 Rs 0.40, 2QFY18 Rs 0.70).
Worldcall Telecom (WTL +4.71 per cent) was far behind with 8.38 million shares exchanged. Followed by Unity Foods Limited (UNITY +4.98 per cent) with 7.41 million shares traded.
The commercial bank sector saw an increase of 1.21 per cent in its cumulative market capitalization. MCB Bank Limited (MCB) was up by 0.89 per cent. While Habib Bank Limited (HBL) lost a minor 0.14 per cent from its share price. Whereas, United Bank Limited (UBL 2.36 per cent), Bank AL Habib Limited (BAHL +3.89 per cent) and Allied Bank Limited (ABL +1.65 per cent) also ended the day positive.
The cement sector gained 3.13 per cent in its total market capitalization. D. G. Khan Cement Company Limited (DGKC +4.99 per cent) nearly touched its upper circuit breaker. While Maple Leaf Cement Factory Limited (MLCF) was up by 3.32 per cent, Fauji Cement Company Limited (FCCL) by 4.91 per cent and Bestway Cement Limited (BWCL) by 4.09 per cent.
Bestway Cement Limited (BWCL +4.09 per cent) declared financial performance for the Year Ended 30th June, 2018. Keeping up with its traditional, the management declared another cash dividend of Rs 3.00 per share taking total for the year to Rs 12.00. Sales were up by a slight 2 per cent from the preceding year. While the earning per share declined by 0.98 per cent YoY. The company’s cost of sales to sales ratio increased from 56 per cent YoY to 64 per cent YoY resulting in decrease in profitability.
