Karachi (Bloomberg) Pakistan stocks were little changed Wednesday. D.G. Khan Cement and Lucky Cement led gains among cement makers on speculation the government will announce incentives for exporters of the building material.
The benchmark Karachi Stock Exchange 100 Index fell 2.05, or 0.02 per cent, to 9,784.98. The gauge has gained 4.2 per cent this year. The index is trading at 8.5 times future earnings, the lowest in Asia, according to Bloomberg data.
"Cement stocks are up because there will be some incentive announced any time from the government for cement exporters," said Muzzammil Eslam, head of research at JS Global Capital Ltd. in Karachi.
Lucky Cement, Pakistan's biggest producer of the building material, climbed 2 per cent to Rs76.57. D.G. Khan Cement, the nation's second-biggest cement maker, surged 4.7 per cent.
