LAHORE - The stock market on Thursday broke the five-day losing streak and regained positive momentum, posting gain of 206.43 points or 0.47 percent as value buyers stepped in. The 100-share index closed at 44255.48 points. The cement stocks were investors’ favorite yesterday due to anticipation of record sales for month of January 2018. Activity was also seen in power generation sector as HUBC gained 1.3 percent on news of potential acquisition of its 14.9 percent shares by Mega Conglomerate. Traded volumes were down 21 percent whereas traded value was down 18 percent. Top 5 index point detractors included HBL (+2.3pc), LUCK (+3.2pc), DAWH (+5pc), HUBC (+1.9 percent) and DGKC (+3.1 percent), which added 213 points to the index, while UBL (-1.5 percent), PAKT (-4.3pc), MCB (-1.1 percent), COLG (-4.3pc) and BAHL (-1.1 percent) withheld 98 points. On the sector front, power added 71 points whereas commercial bank sector withheld 98 points.

On Thursday, Hi-tech Lubricants (HTL) announced 2QFY18 financial results, reporting earnings of Rs381m (EPS 2.27), up 16 percent. Sales improved by 52 percent to Rs3.4b, whereas gross profits were up 20 percent to Rs763m. Moreover, Engro Powergen Qadirpur (EPQL) also disclosed 2017 results, reporting EPS of Rs7.38, up 27 percent. Net revenues of the company were up 1 percent while gross margins improved from 19.5 percent to 23 percent from same period last year. Likewise, Habib Bank (HBL) notified the exchange that BoD has approved the appointment of Muhammad Aurangzeb as the president and CEO of HBL.

Dewan Cement (DCL) has notified the exchange that Mega Conglomerate (Private) limited has shown intention to acquire substantial shareholding and start due diligence process. The potential sale shall be subject to all relevant corporate, regulatory and creditor consents and approvals.

The TRG on Thursday reported 1QFY18 LPS of Rs1.3 which is over 2.4x higher than LPS reported in same period last year while sales grew by 25 percent YoY.