LAHORE  -   The KSE 100-index of Pakistan Stock Exchange continued its bullish trend on last day of the week, driven by investor morale after the Kingdom of Saudi Arabia guaranteed to provide Pakistan with a financial assistance of $6 billion to fend off the impending balance of payments crisis.

On Friday, the PM also visited the UAE, where he was received warmly. The benchmark KSE 100-index gained another 925 points or 2.33 percent to push the index to 40556.45 from previous level of 39,632 points. Market traded higher making a high of +980 points, however later declined due to unsatisfactory results by some heavyweight stocks. Rally was seen at the bourse mainly in  cements where LUCK (+5 percent) closed on its upper circuit. DGKC (+2.95 percent) announced 1QFY19 EPS of Rs0.95 with no cash payout. On the flipside, financials and E&Ps kept the pressure on the index. HBL announced 9M2018 consolidated EPS of Rs6.57 vs. Rs0.86 (SPLY), with a cash payout of Rs1/share. Moreover, FABL announced 1Q2018 EPS of Rs.0.77 vs 0.64 (SPLY) with no cash payout.

In the fertilizers, FFBL (+5 percent) reported 9M2018 consolidated EPS of Rs0.29 vs EPS Rs.0.23 (SPLY), with no DPS. Trading activity surged up traded value to $101million, up 56 percent, while volume stood at 344 million shares, up 3 percent. Index heavyweights namely FFC (+4.88 percent), LUCK (+5 percent), ENGRO (+2.10 percent), PPL (+1.42 percent) and HUBC (+1.75 percent) cumulatively contributed +219 points to the index. On the flipside, HBL (-4.36 percent), OGDC (-0.82 percent), MCB (-0.45 percent), POL (-1.49 percent) and UBL (-0.82 percent) were the major dampeners in yesterday's trading session.

Furthermore, key contribution to total market volume came from BOP (+1.44 percent), LOTCHEM (0 percent) and KEL (-3.17 percent). Moving forward, experts expect investor sentiments to remain positive after the Prime Minister's visit to SA and the UAE. They recommend investors to wait for further developments on the economic front.