The stock market saw a good recovery on Wednesday as the KSE-100 index closed in positive territory. The benchmark KSE-100 index gained +8.49, or 0.02% per cent, by the close of the trading session to reach 40,733.45 points. The market was overall dull during the day.
However, despite the rough day, the quarterly results season held some good news for the PSX today. The market was down to -500 points today but the results of different companies helped the market to recover to close in green.
Cement sector played the important role that helped the market to bring up the recovery today. Many are hopeful that some scripts may perform well and bring about a much-awaited change. Following the quarterly results season, fertilizer and auto sectors are expected to post healthy earnings growth due to the improved market conditions both locally and internationally, during the quarter.
DG Cement announced good profits today which resultantly made it’s script to hit the upper cap limit. In the end it was closed at Rs 150.90 (+3.45%). LUCKY cement was also up by +4.24% which closed at Rs 522.23.
Volumes were dull today as the All shares index had a traded volume of 138 million shares Overall, stocks of 343 companies were traded on the exchange, of which 112 gained in value, 211 declined and 20 remained unchanged. In KSE 100 just 49 million shares were traded with a net worth of just Rs 4.46 billion.
Top traded sectors:
Engro Polymer was the volume leader with 21.28 million shares gaining Rs 1.63 to close at Rs 34.33. It was followed by Azgard Nine with a turnover of 8.92 million shares, losing Rs 0.19 to close at Rs 12.53, Aisha Steel Mill with 8.80 million shares, gaining Rs 0.10 to close at Rs 18.09 and Dost Steel Ltd 7.62 million shares, gaining Rs 0.16 to close at Rs 12.33.
Top advancers of the market were:
Top decliners of the market were: