The stock market saw an impactful bullish session after a long time with impressive volumes as ousted Prime Minister Nawaz Sharif, his daughter Maryam Nawaz and her husband retired Captain Mohammad Safdar were indicted by an accountability court in Islamabad on Thursday.
The KSE-100 index took this development as a positive note as the benchmark KSE-100 index gained +824.62, or 2.02% per cent, by the close of the trading session to reach 41558.07 points. The market crossed the psychological barrier of 41000 today.
The market went up to an intraday high of 881 points over the indictment of ousted Prime Minister’s family.
Fertilizers, Cement, Steel, Oil and gas were the main sectors that brought up the gain today. Pakistan Stock Exchange performance year to date has yielded a return of -14.81%. Fertilizer Sector on the other hand has not fared any better. With a return of -16.71% during the last 10 months, the Fertilizer Sector is trading at a Price to Earning Ratio of 4.61.
Top contributors of the market that brought up the gain were ENGRO +78.07 points, LUCK 59.46 points, PPL 47.35 points, HBL 42.31 points and PSO 38.67 points.
Fauji Fertilizer bin Qasim Net Sales for the period increased by 13%, amounting to a total of 11.6 billion Rupees during the Quarter ended September, 30th 2017. Company’s Gross Profit for the period increased by 165%. The Profit after tax for the period for the period reached 106 million compared to same year last year’s losses of 159 million Rupees. The company’s earnings per share reached 0.11 Rupees/Share.
Volumes were impressive today as the All shares index had a traded volume of 232 million shares Overall, stocks of 356 companies were traded on the exchange, of which 272 gained in value, 71 declined and 13 remained unchanged. In KSE 100 113 million shares were traded with a net worth of just Rs 9.11 billion.
Top traded sectors:
K-Electric was the volume leader with 29.66 million shares losing Rs0.01 to close at Rs6.09. It was followed by Engro Polymer the volume with a turnover of 18.95 million shares, gaining Rs1.65 to close at Rs35.98, Dost Steel Ltd with 14.15 million shares, gaining Rs1.00 to close at Rs13.33 and TRG Pak Ltd 11.34 million shares, gaining Rs1.65 to close at Rs34.72.
Top Advancers of the market were:
Top losers of the market were: