Karachi, October 24, 2019: Pakistan equities closed Thursday on a positive note with benchmark KSE100 Index gaining 322 points, closing at 33,762 levels, up 1 percent. The market remained on the positive side but is expect to come under pressure in the short run due to ongoing developments on oppositions Azadi March and tension on PAK-INDIA border.
In the E&Ps, OGDC (+2.3 percent), PPL (+1.6 percent) and POL (+3.0 percent) closed in the positive trajectory. Big Banks in closed in the green zone where HBL (+0.8 percent), MCB (+1.3 percent) and UBL (+0.5 percent) contributed towards the positive close.
Moreover, FABL (+2.2 percent) and BAHL (+0.5 percent) announced their 9MCY19 consolidated EPS of Rs2.90 and EPS Rs6.30, respectively.
Furthermore, in the Fertilizers, ENGRO (+1.2 percent) reported its 9MCY19 consolidated EPS of Rs22.61 vs. Rs17.27 with a cash payout of Rs8/share. In the Cements MLCF (-3.2 percent) reported its 1QFY20 consolidated LPS of Rs1.65 vs. EPS of Rs0.99 (SPLY).
Traded value stood at $26 million, up 11 percent and volume stood at 121 million shares, up 4 percent. Furthermore, major contribution to total market volume came from WTL, LOTCHEM, TRG and FCCL. Moving ahead, we expect market to remain choppy on the political front.