LAHORE - Pakistan Stock Exchange continued to extend losses for another day as interest rate hike of 100bps in monetary policy meeting during the weekend dented debt-laden sectors, where cements, engineering and OMCs cumulatively chipped away 50 points from the index.

Scrip wise, Sitara Per Oxide (SPL) closed near to its upper cap as the company announced capacity expansion by 50 percent to 120 tons per day. Further, BOP, UNITY, and PAEL gained investors attention and topped volume leader’s chart with cumulative traded volume of 40m shares.

Market participation in terms of volumes went down by 27 percent while value traded went down 46 percent, showing investors remained tilted toward small cap stocks.

Nishat Chunian Power (NCPL) announced its financial results for FY18, where company announced earnings of Rs9.27/share, up by 13 percent YoY due to increase in net revenues by 3 percent YoY and increase in GP margin by 1ppt YoY. Company also declared dividend of Rs1.5/share.

Dewan Cement (DCL) announced its financial results for FY18, where posted decline of 31 percent YoY to Rs902m. Lower earnings could be attributed to decline in GP margins by 4ppts YoY. Sitara Per Oxide announced its financial results for FY18, where company posted loss of Rs1.2/share, down by 25 percent YoY.

Decline in loss could be attributed to increase in GP margins by 5-6ppts YoY to 10 percent. The company is also considering to increase its production capacity by 50 percent to 120 tons per day by Sept 2019.

Azgard Nine (ANL) in its final year results notice to exchange posted earnings of Re0.4/share compared to loss of Re0.3/share last year. Company’s turnaround is attributed to increase in GP margins by 1ppt YoY and increase in other income by 58 percent YoY.

Tariq Glass (TGL) announced its financial results for FY18, where company reported earnings of Rs1bn compared to Rs759mn last year due to increase in revenues by 24 percent YoY. Company also declared dividend of Rs6/share.