KARACHI: The Pakistan Stock Exchange (PSX) ended flat on Thursday amid a range-bound and volatile trading session.
Continuing with the buying trend, foreign investors closed the preceding session as net buyers with a net inflow of $4.40 million.
Gaining 100.82 points, the KSE-100 Index touched its intraday high of 32,502.22 shortly after the commencement of the session. The index remained volatile thereon, recording its intraday low of 32,150.26 (down by 251.14 points), until finally closing flat by 45 points at 32,446.40. The KMI-30 Index closed higher by 47.98 points at 51,006.19, while KSE All Share Index added 57.91 points to end at 23,747.62. Out of the total traded scripts, 114 advanced and 161 declined.
The overall market volumes declined from 84.38 million in the previous session to 63.52 million. The Bank of Punjab (BOP +3.07pc), Maple Leaf Cement Factory Limited (MLCF -4.75pc) and TRG Pakistan Limited (TRG -5.09pc) ended as volume leaders of the day. The scripts had exchanged 5.52 million shares, 5.28 million shares and 4.34 million shares respectively.
The top three sectors that led the KSE-100 Index included oil and gas exploration sector (+40.63 points), fertiliser sector (+29.74 points) and banking sector (+24.67 points). Meanwhile, top companies that contributed positivity to the index included Hub Power Company Limited (HUBC +26.02 points), Habib Bank Limited (HBL 21.99 points) and Engro Corporation Limited (ENGRO 17.88 points).
On the market front, Mithchells Fruit Farm Limited (MFFL 0.00pc) declared its financial performance for the third quarter of FY19. The company’s sales declined by 9pc YoY, while earnings per share improved from Rs-4.06 in the third quarter of FY18 to Rs-2.94 in 3QFY19.
ICI Pakistan Limited (ICI 0.00pc) announced its financial results for FY19. The company declared a final cash dividend of Rs4.5 along with its financials. Sales improved by 18.78pc on a YoY basis, while earnings per share declined from Rs33.13 in FY18 to Rs24.96.
Sugar players announced their financial performance for the third quarter of FY19. Mirpurkhas Sugar Mills Limited (MIRKS -5.00pc) announced an EPS of Rs7.19, while Baba Farid Sugar Mills Limited (BAFS 0.00pc), of Al-Noor Sugar Mills Limited (ALNRS +4.99pc), of , Chashma Sugar Mills Limited (CHAS +2.91pc), of and Noon Sugar Mills Limited (NONS -5.00pc) announced EPS of -3.01, Rs3.77, Rs8.02 and Rs6.12 respectively.
