LAHORE - Traded volumes were below 100 million for the first time in last 39 sessions. This was only the 3rd time in 5 months where traded volumes did not cross the 100mn mark. Resultantly, it was a tedious trading session for the benchmark index as investors wait for key developments ahead. The index closed at 40,639 level, losing a miniscule 66pts(or -0.16 percent).  

PSMC closed on its lower Cap today at Rs244.2, as news flow suggested that according to the Automobile Policy 2016-2021 the Govt. can not extend Greenfield investment project status to any of the existing three Japanese car assemblers including Pak Suzuki Motors.

Refineries closed in the green today, led by NRL(+5 percent) and ATRL (+1.5 percent), as the Cabinet Committee on Energy (CCoE) ordered immediate lifting of furnace oil from refineries and a 6-month plan envisaging all fuel requirements within a fortnight. Investor participation severely regressed today as traded volumes fell by 22 percent to 97mn, while traded value plummeted by 28 percent to US$35mn.

Exide Pakistan Ltd (EXIDE) announced its 2QFY19 results, posting LPS of Rs20.9 vs. EPS of Rs3.14 in the same period last year. This is due to a 19 percent YoY decline in sales, a 2.4x YoY rise in operating expenses and a 73 percent YoY rise in finance cost.