LAHORE - The KSE 100-index of Pakistan Stock Exchange experienced a volatile trading session Tuesday as investors resorted to profit taking amid 9.6 percent (nearly a 9-year high) increase in the last 4 trading sessions. Moreover, sentiments were mixed on account of poor earnings of select companies like PAEL (-4 percent), AVN (-5 percent), TREET (-4.4 percent). The index gained 155 points and closed at 41,609 points.

Sector-wise, commercial banks and cements offered the index respite adding 223pts, cumulatively. While on the other end, oil and gas exploration companies dragged the index as it chipped away 45 points due to profit taking. After last day’s significant market participation, on Tuesday activity normalized as traded volumes declined 29 percent to 328m, while traded value fell by 22 percent to $12m.

Gul Ahmed Textile Mills Limited (GATM) posted its 1QFY19 results, disclosing EPS of Rs1.98, up 7.5x YoY. This is due to a 31 percent YoY rise in sales and a 27ppts YoY decline in effective tax rate. In a notice to the exchange, Treet Corporation Limited (TREET) announced its 1QFY19 results recording LPS of Rs1.24 vs EPS of Rs0.5 in the same period last year. This is due to an 2.5x YoY increase in administration expenses, a 9ppts YoY decrease in gross profit margins and a 2.4x YoY rise in finance costs.