KSE – 100 gains 156.01 points

The Karachi Stock Exchange 100 Index today rose on Wednesday as bullish investors continue to dominate the sessions. The index closed 156 points higher at 45063.21 points after falling 281.38 points at its session lows.

Index travelled the session in a rather turbulent manner after it gained more than 587 points during the first hour of trading. The index then took a dive downwards as COLG -2.96%, POL +1.98%, APL -0.45% and ICI -4.55% announced financial results for half year and quarter ending December, 2017.

ICI Pakistan today released financial results for the six months and quarter ending December, 2017. Company reported an increase of 19.77% in net turnover for the second half of year 2017. The total led to an increase of 20.59% in Gross Profit to clock in at 4.431 billion against 3.674 last year. Company management increased the EPS from Rs. 17.56 per share to Rs. 16.11 per share, up by 9%. 

Colgate – Palmolive (COLG) today released quarterly and half yearly financial results for the period ending December 31st, 2017. Company’s bottom line profits clocked in at Rs. 1.667 billion; up by 3.87% from Rs. 1.605 billion. POL stock today hit lower lock at -5.00% after it missed the expected targets by miles in the financial releases. Street was extremely bullish on quarterly and half year POL results expecting the quarter to report a 98% jump in earnings. Against the expected EPS of 23.05 per share, POL for the half year ended December, 2017 POL posted and EPS of 20.13 per share.

Attock Petroleum Ltd. today announced financial results for quarter and half year ending December, 31st 2017. Analyst and Research House expectations for bottom line profits for the half year ending December, 2017 to average at around Rs. 2.5 billion. Company reported bottom line profits at around 2.810 billion down 10.9% from, above expectations.

Sector-wise all share index turnover was led by Cement (58.646 million), Technology & Communication (46.391 million), and Engineering (32.837 million) with Textile Spinning (10.720 million) and Power Generation & Distribution (10.322 million) stocks trailing at the bottom.

KSE – 100 Index at the day end moved a total of +156.01 points up by +0.35%, closing in at 45063.21 points with index high-low range of 45494.52 – 44781.83.

KSE – All Share Index Volume was at 339.447 million shares, value of shares traded for all-shares index reached PKR 18.152 billion.

KSE – 100 Index Chart – Mettis Global

The index movement was limited within the 712.69 points range.

59 companies closed up, whereas 34 were down at the day end.