LAHORE  -   The KSE 100-index of Pakistan Stock Exchange closed in the green for the second consecutive session, gaining 237 points (or +0.6%), closing at 39,544 points. The index was supported by the oil & gas exploration sector, led by PPL, POL, and OGDC, due to rising international oil prices.

ATRL (-5%) and PRL (-5%) announced their respective half year results, where both recorded losses. Resultantly, both closed at their lower limits.

Sector-wise, the best performing sectors were commercial banks and E&Ps as they added 242 points to the index, cumulatively. While cements were the worst performing sector as they chipped away 50 points. Investor participation was mixed as traded volumes fell by 20% to 125m, while traded value rose by 17% to $43m.

Attock Refinery Ltd (ATRL) announced its 2QFY19 results, recording an LPS of Rs24.4 vs EPS of Rs1.45 in the same period last year. The loss in earnings was due to a 3.6x YoY increase in finance cost, a 37% YoY decline in non-refinery income and a 200bps YoY decrease in gross profit margin.

National Refinery Ltd (NRL) posted its 2QFY19 earnings, recording an LPS of Rs34.9 vs LPS of Rs0.96 in the same period last year. This was due to a 3.9x YoY rise in finance cost, a 5ppts YoY decline in gross profit margins and a 46% YoY fall in other income.

The delay in the launch of Rs200bn Islamic bond to rescue the troubled energy sector has put the largest state-owned firm Pakistan State Oil (PSO) in dire straits with its receivables going beyond a record Rs364bn.