Stock market extends rally

SHARE

KARACHI – The Pakistan Inventory Change (PSX) witnessed one other range-bound session on Friday. The benchmark KSE 100-index, after making an intra-day excessive of 180 factors and a low of 76 factors, closed at 42,409 whereas gaining 46 factors.

Within the banking house, UBL (down zero.87%) and MCB (zero.43%) misplaced additional floor, cumulatively taking away 23 factors from the KSE-100.

Blended sentiments have been seen within the cement sector as FCCL (up 1.12%), CHCC (2.90%) and PIOC (2.46%) closed within the inexperienced, whereas KOHC (down 1.67%), LUCK (1.24%) and DGKC (1.35%) dropped in worth.

SEARL (up 5%) from the pharmaceutical sector hit its higher circuit as the corporate introduced its FY17 end result, the place the corporate posted EPS of Rs15.30 with a money payout of Rs8/share and a bonus problem of 20%, stated vendor at JS International.  Market contributors stated speculations on rising textile exports by way of the EU GSP Plus scheme and upbeat monetary outcomes performed a catalyst function in greater shut.

Volumes barely improved to 173m shares as in comparison with 140m shares of the earlier buying and selling session. Whereas traded worth decreased to Rs5.4b/$52m.

A complete of 369 energetic symbols have been traded within the session, of which 224 closed upfront, 130 in decline and 15 remained unchanged.

KEL (up 5.71%) led the quantity charts with 38m shares of the ability utility exchanging fingers.  Brokers advocate buyers to stay cautious given political uncertainties and regarding financial indicators.

 

 

Leave a Reply