KARACHI -  Pakistan Stock Exchange (PSX) witnessed strong recovery in Wednesday’s trading session as value investors took the opportunity to buy stocks at attractive prices. KSE 100-share index closed at 42,911 points after gaining 967 points.

CHCC (up 2.9%) from the cement sector announced its results for FY17, where an EPS Rs11.08 was reported and final dividend of Rs3.50 was announced. FCCL (up 4.9%) from the cement sector closed near its upper circuit on account of the news regarding its production line-II expected to resume operations from Oct-2017.

In the banking sector, FABL (down 0.7%) and BAHL (up 4.3%) announced their results for 1H2017, where the banks posted an EPS of Rs2.17 and Rs4.10, respectively. POL (up 2.0%) and PPL (1.6%) also recovered after recent correction in the respective stocks, stated analyst at JS Global.

Participants said market opened positive and quickly edged up in early trade as index names fetched interest from local institutions on attractive valuations and relative calm on political front.

Volumes however deteriorated by 23% to 167 million shares, compared to 217 million in the previous trading session. While traded value declined to Rs9.3b/$89m.

Scrips of total 396 active companies participated in the session of which 314 finished in advance, 71 in decline while 11 remained unchanged.

TRG from the technology and communication sector led the volumes as 14 million shares were exchanged.

Brokers expect further recovery in the following sessions and recommend investors to book profits on any possible selling opportunity.