KARACHI: Trading remained dull at the Pakistan Stock Exchange (PSX) on Wednesday where bears dominated the market right from the start.
The benchmark KSE 100 index dropped below the 41,000 psychological mark to touch intraday low of 40,717.78 with a loss of 318.52 points. The index settled lower by 126.39 points to settle at 40,909.91. Foreign investors ended as net buyers with a total inflow of $1.22 million on Tuesday.
The KMI 30 index depreciated to intraday low of 69,392.81 with a loss of 476.34 points. It closed lower by 382.33 points at 69,486.82. The KSE All share index declined by 72.07 points to end the session at 29,784.35. The advancers to decliners ratio stood at 104 to 203.
The market volumes remained thin with a total trade volume of 126.44 million. Dolmen City REIT (DCR +0.31 per cent) dominated the stock chart by trading 20.20 million shares. Unity Foods Limited (UNITY -4.21 per cent) was next with 8.04 million shares exchanged, followed by Lotte Chemical Pakistan Limited (LOTCHEM -0.94 per cent) with 6.39 million shares exchanging hands.
Nishat Mills Limited (NML -0.44 per cent) released its financial result for Financial Year 2018 (FY18). The company declared a final cash dividend of Rs 4.75 per share. Sales appreciated by 9 per cent YoY, whereas the earning per share declined from Rs 12.12 in the previous year to Rs 11.65 in the current year. Finance cost was up by 9 per cent YoY as the company increased its borrowing to meet the working capital requirements, while taxation was recorded at 17.35 per cent in the current year as compared to 15.10 per cent in the previous year.
