The KSE-100 index was banking this week on earnings from refineries; however the earnings, safe to say, within the market expectations. Barring the sequential decline in Millat Tractors Ltd. (MTL), the stock held its own in results and closed in plus. The Index ended the session in green with help from Financials (+1.73%), Telecommunication (+1.21%), and Consumer Staples (+1.21%). HBL, MCB, NBP, HMB and BAFL all added a total of 185 points.

KSE-100 Index participation increased to 57.22 million shares, up by 13.6% on a day to day basis. Primary contribution towards total market participation was from EPCL (-4.47%), KEL (+1.79%) and JSCL (+4.77%) with trading of 27.67 million shares of All Share volume total of 99.68mn shares.

In Corporate news, Shifa International Hospitals Ltd (SHFA), National Foods Ltd (NATF), Millat Tractors Ltd (MTL) and Pakistan Refinery Ltd (PRL) announced financial results for the twelve months period. Millat Tractors reported an increase in Net Sales for the period by 77.45 percent in the outgoing year, whereas the Profit for the company increased by 143.25 percent.

Pakistan Refinery Ltd’s Net Sales for the period increased by 8.03 percent in the outgoing year, whereas Profit after Taxation increased by a whopping 274 percent.

In regional scenario, Asian Development Bank approved two projects in Pakistan; $100 Million project to fill Infrastructure Gap via PPP in Sindh and $335 Million for Pakistan’s Innovative Bus Transit System in Peshawar.

While within the commodities, Prices for gold today were down by 0.21% as the worse was avoided in North Korea crisis, investors have been pouring into Gold markets as tensions between US and North Korea continues to grow. Silver gained in the international markets, up by 0.28%. Silver Prices have risen by 5.54% in the last three months.

State Bank released data on remittances for the first two months (July to August) of the Fiscal Year 2017. During August 2017, the inflow of worker’s remittances amounted to US $ 1954.46 million, which is 26.78% higher than July 2017 and 11% higher than August 2016.

KSE-100 Index at the day gained a total of 152.47 points, closing at 41279.30 points. Index touched an intraday high of 41411.18 points whereas touching a low of 41024.54.

In percentage terms, index was up by 0.37%.