Market watch: Stocks rebound back, KSE-100 climbs 374 points
PHOTO: FILE
KARACHI: Attractive valuations and formula announcements kept investors meddlesome as a benchmark KSE-100 Index climbed 374.15 points on Thursday, a day after it fell over 550 points due to panic selling.
At tighten on Thursday, a Pakistan Stock Exchange’s (PSX) benchmark KSE 100-share Index finished with a arise 0.76% or 374.15 points to finish during 49,588.30.
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Topline Securities researcher Hammad Aman pronounced a index recovered from Wednesday’s tumble formed on remunerative gratefulness to benefit 374 points especially led by banks as HBL, UBL and MCB contributed 106 points to a gain.
DG Khan Cement announced a 2QFY17 gain per share (EPS) of Rs6.0/share that was above marketplace consensus, pronounced Aman.
Maple Leaf Cement announced 2QFY17 EPS of Rs2.7/share along with Rs 2 per share money division that was above expectations.
Millat Tractors (MTL) sealed during a top extent of 5% as it announced considerable gain of Rs39.4/share. In a apart notice, MTL announced that it has motionless to try a probability of apropos partial of a corner try consortium that is environment adult a immature margin plan for public and sales of Hyundai Motor Company, pronounced Aman.
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Trading volumes fell to 263 million shares compared with Wednesday’s total of 417 million.
Shares of 415 companies were traded. At a finish of a day, 260 bonds sealed higher, 135 declined while 20 remained unchanged. The value of shares traded during a day was Rs14.2 billion.
Aisha Steel Limited was a volume personality with 21.3 million shares, gaining Rs1.30 to tighten during Rs27.38. It was followed by Dost Steel Limited with 21.4 million shares, gaining Rs0.89 to tighten during Rs15.94 and TRG Pakistan Limited with 13.7 million shares, gaining 1.19 to tighten during Rs58.07.
Article source: https://tribune.com.pk/story/1329116/market-watch-stocks-bounce-back-kse-100-climbs-374-points/