Market watch: KSE-100 annals slight pickup amid quarterly results
Benchmark index rises 42.34 points to finish during 49,827.51. PHOTO: INP
KARACHI: A slight boost was witnessed during a Pakistan bourse on Wednesday as a KSE 100-share Index inched adult a few points with a proclamation of quarterly formula by scores of companies.
The financials helped say financier seductiveness in a market, permitting a miniscule ascent.
At close, a Pakistan Stock Exchange’s (PSX) benchmark index available a arise of 42.34 points, or 0.09%, to finish during 49,827.51.
According to Elixir Securities’ researcher Ali Raza, a marketplace confirmed a solid activity as quarterly formula kept financier seductiveness intact.
“On a formula front, Fauji Fertilizer (-2.6%) sealed reduce on profit-taking after a formula came in line with estimates, while both Cherat Cement (-3.6%) and Kohat Cement (-4%) tight after their gain and pay-out significantly missed travel estimates, unsatisfactory investors,” he said.
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Index-heavy Engro Corp (-0.7%) and MCB Bank (-0.1%) managed a decent tighten after their formula came broadly in line with a estimates, he added.
Meanwhile, according to a news of JS Research, a flighty event was witnessed during a bourse as a index traded between an intra-day high of +169 points and intra-day low of -140 points.
“Pak Suzuki Motor Company and Indus Motor Company in a vehicle zone garnered financier seductiveness as they once again rose to tighten during their top circuits on a behind of new earnest 1Q2017 and 9MFY17 outcome announcements,” pronounced researcher Nabeel Haroon.
“Engro Corp somewhat mislaid value as a holding association announced a formula for 1Q2017 in that it posted gain per share (EPS) of Rs5.42 (in line with travel consensus) along with money pay-out of Rs5/share.”
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Moreover, MCB Bank declined notwithstanding posting better-than-expected EPS of Rs5.52 for 1Q2017 along with money pay-out of Rs4/share.
Cherat Cement (-3.61%) was a vital crook in a concrete zone notwithstanding proclamation of good 3QFY17 results, he added.
Overall, trade volumes fell to 323 million shares compared with Tuesday’s total of 381 million.
Shares of 399 companies were traded. At a finish of a day, 168 bonds sealed aloft and 212 declined while 19 remained unchanged. The value of shares traded during a day was Rs16.8 billion.
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Summit Bank was a volume personality with 22.7 million shares, gaining Rs0.21 to tighten during Rs4.96. It was followed by Azgard Nine with 21.7 million shares, losing Rs0.01 to tighten during Rs14.11 and Engro Polymer with 20.2 million shares, losing Rs0.94 to tighten during Rs28.19.
Foreign institutional investors were net sellers of Rs179 million during a trade session, according to information confirmed by a National Clearing Company of Pakistan Limited.
Article source: https://tribune.com.pk/story/1394218/market-watch-kse-100-records-slight-pickup-amid-quarterly-results/