LAHORE - Pakistan Stock Exchange rallied on Tuesday, with the benchmark KSE 100-index closing at 45,877 points, up by 505 points.

Market kicked off on a positive note and made an intra-day high of +540 points as active participation was seen in energy, cements and financials. Yesterday's major heavyweights namely HBL (+1.21 percent), OGDC (+1.76 percent), PPL (+0.88 percent), UBL (+1.90 percent), ENGRO (+0.79 percent), MCB (+0.70 percent), LUCK (+2.29 percent), POL (+1.81 percent) and HUBC (+1.35 percent) cumulatively contributed +242 points to the index. Traded volumes rose by 37 percent DoD to 154m shares while value traded increased to $80m.

Top volume stocks were PAEL (-4.15 percent), EPCL (-0.21 percent), FFL (+5 percent), LOTCHEM (+2.23 percent) and FCCL (+2.03 percent). FFBL (+5 percent), in the fertilizer sector, closed on its upper circuit despite posting 1Q2018 loss of Re0.26/share. The company also disclosed that the Board of Directors has approved further investment of up to Rs1.5b in Fauji Meat Limited (FML) and a subordinate loan of Rs3.5b subject to shareholders’ approval. Moreover, NPL (+0.91 percent) posted its 9MFY18 EPS of 6.824 with no cash payout.

On the economic front, exports of textile group witnessed a growth of 12.95 percent YoY in Mar-2018 as textile exports increased to $1.202b. Moving forward, experts expect overall activity to be positive in the coming sessions with flows from foreigners and local institutions guiding the market direction.