LAHORE: Pakistan Stock Exchange witnessed a choppy session on Friday, with the 100-share index closing at 44,551 points, down 266 points.

Experts said that the divergent trend in the trading sessions can be attributed to the last day of futures rollover. Volumes also remained healthy at 271 million shares compared to 246m shares traded Thursday. KEL (+1.62 percent) led the volume chart for the day with more than 39m shares of the power company exchanging hands. Strong volumes in KEL were witnessed as investors' confidence on the company increased on the back of market news of Shanghai Electric to take over K-Electric soon. Banking space led the decline at the bourse, cumulatively contributing -225 points to the index. HBL (-3.25 percent), MCB (-1.42 percent), UBL (-3.54 percent) and FABL (-1.55 percent) lost value to close in the red trajectory. FFBL (-3.30 percent) from the fertilizer sector announced its 2017 result, where the company posted an EPS of Rs1.08 per share and also announced final cash payout of Rs0.75/share. Moreover crude oil prices edged higher in the international market, where OGDC (+0.81 percent) and PPL (+0.74 percent) from the E&P sector gained to close in the green zone.

Meanwhile, Lucky Cement (LUCK) announced results for 1HFY18 where the company posted an unconsolidated EPS of Rs20.25, taking the consolidated EPS to Rs24.47, down 2.6 percent YoY. For 2QFY18, unconsolidated EPS clocked in at Rs10.92, up 17 percent QoQ while down 7.1 percent YoY.

Net sales decreased by 6 percent YoY as an increase in volume by 5.7 percent YoY was offset by 1.3 percent YoY decline in retail prices. However, on QoQ basis, net sales increased by 8 percent QoQ due to increase in sales volume of 15 percent QoQ.