Daily Stock Report: Index Gained 152 Points Today

The market kicked off the day on a positive note on Tuesday. At close, the benchmark KSE 100-share Index recorded an increase of 152.47 points or 0.37% to end at 41,279.30. The intraday low for today was -102 points whereas the intraday high was 285 points.

The index tested the day’s high at 41411.18 points .The day’s low of 41024.54 came towards market close.

Pakistan Refinery Ltd. announced Financial Results for the period ended June 30, 2017.

The refinery’s Net Sales for the period increased by 8.03 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 274 percent.

The board has recommended no Cash Dividend, any bonus or right share

The market showed a lackluster participation with just 99 million shares changing hands on the KSE All-share Index. Overall, stocks of 339 companies were traded on the exchange, of which 134 gained in value, 189 declined and 14 remained unchanged. In KSE 100, 57 million shares were traded with a net worth of Rs 4.43 billion.

Top traded sectors:

Engro Polymer was the volume leader with 9.42 million shares, losing Rs 1.22 to close at Rs 27.34. It was followed by K-Electric Ltd with 9.28 million shares, gaining Rs 0.11 to close at Rs 6.25, Jahangir Sidd Co with 8.95 million shares, gaining Rs 1.10 to close at Rs 23.06 and , Bank of Punjab with 7.51 million shares, gaining Rs 0.02 to close at Rs 9.93.

Top Advancers of the market were:

Top Decliners of the market were:

Oil slid on Tuesday as investors weigh in on the aftermath of Hurricane Irma. Hurricane Irma hit the Floridian state on Monday wiping out electricity to millions of homes and businesses.

Analysts expect crude production to go up slightly in the response of demand surge from Irma and Harvey. Both the hurricanes have wreaked havoc on the US soil in the last few weeks; however, Irma has been downgraded to a Tropical Storm.

Crude inventories rose across US after the hurricanes despite a decline in refined products production. U.S. Department of Energy’s Energy Information Administration (EIA) estimated, on average, that crude stocks likely rose 2.3 million barrels in the week ended Sept. 8.

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