KSE-100 ends with 487-point gain amid low turnover

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KARACHI: The Pakistan Stock Exchange (PSX) remained in the green zone throughout the session on Wednesday, with the indices registering decent gains despite thin participation.

The KSE-100 Index started the trading session on a positive note, gaining 552.61 points or 1.78pc to record an intraday high of 31,019.81. It settled higher by 487.63 points at 30,954.83. The KMI-30 Index accumulated 647.64 points to end at 48,443.04, while the KSE All Share Index appreciated by 243.84 points, closing at 22,729.60.

The overall market volumes were recorded at 99.66 million. Maple Leaf Cement Factory Limited (MLCF -4.53pc) maintained its position as the volume leader with 11.51 million shares exchanging hands. Next in line were Oil and Gas Development Company Limited (OGDC +4.80pc) with 8.80 million shares and Worldcall Telecom (WTL -4.49pc) with 6.69 million shares.

The banking sector (+203.18 points), oil and gas exploration sector (+154.69 points) and fertilizer sector (+86.37 points) helped the KSE-100 Index stay in the green territory.

Among the companies, Habib Bank Limited (HBL +85.25 points), Oil and Gas Development Company Limited (OGDC +75.27 points) and Pak Petroleum Limited (PPL +67.19 points) remained the top contributors to the index.

Pakistan Refinery Limited (PRL -2.32pc) declared its financial performance for the year ended June 30th, 2019. The company’s revenue rose by 25pc while its cost of sales jacked up by 30pc, which resulted in a decline in its gross profit margins. Earnings per share declined from Rs1.64 in FY18 to Rs-18.92 in FY19.

Nimir Industrial Chemicals Limited (NICL -0.93pc) announced its financial result for FY19. The company declared a final cash dividend of Rs1.50 per share. Sales increased by 23pc, finance cost surged by 76pc, while earnings per share improved from Rs6.29 in FY18 to Rs7.33 in FY19.

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