KSE-100 ends 301 points higher amid volatile trading

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KARACHI: The Pakistan Stock Exchange (PSX) witnessed a volatile session on Thursday, as indices kept swinging between the red and green zones all day long.

Trading remained suspended for some time at the exchange due to a technical glitch. On the other hand, investors remained busy observing financial results. Foreign investors continued as net buyers on Wednesday with a net inflow of $3.21 million.

Gaining 440.38 points, the KSE 100 index benchmark touched its intraday high of 36,944.63. The index settled higher by 301.28 points at 36,805.53. The KMI 30 index gathered 345.46 points to close at 59,787.49, while the KSE All Share index was up by 105.10 points, ending at 26,758.56.

Trading volumes slipped further from 115.99 million in the preceding session to 106.78 million. The Bank of Punjab (BOP +4.66pc), Worldcall Telecom (WTL -1.92pc) and Lotte Chemical Pakistan Limited (LOTCHEM +2.61pc) topped the volume chart. The scripts had traded 11.26 million shares, 7.41 million shares and 6.46 million shares respectively.

Bata Pakistan Limited (BATA -5.00pc) declared its financials for the first quarter of FY19. Sales inched by a slight 6pc YoY, while the company’s finance cost increased significantly, which resulted in decreasing the net profit. Earnings per share declined from Rs22.66 in the same period last year to Rs5.84.

Murree Brewery Company Limited (MUREB -1.27pc) announced its financial results for the third quarter of FY19. An interim cash dividend of Rs5 was declared by the company. Sales posted growth of 13.47pc on a quarterly basis, while earnings per share improved from Rs11.05 in the same period last year to Rs11.75 in the current year.

Meezan Bank Limited (MEBL +0.97pc) released its financial performance for the first quarter of FY19. An interim cash dividend of Re1 and bonus shares of 10pc were also declared by the company. Revenue increased by 15.61pc QoQ, while earnings per share almost doubled from Rs1.64 in the same period last year to Rs2.44.

At-Tahur Limited (PREMA +1.83pc) announced an EPS of Rs0.37 (up by 68pc YoY). Pakgen Power Limited (PKGP +7.63pc) posted an EPS of Rs1.74, Philip Morris Pakistan Limited (PMPK +3.69pc) Rs-20.56, Thal Limited (THALL +1.35pc) Rs11.88 and Ittefaq Iron Industries Limited (ITTEFAQ +4.24pc) Rs0.45.

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