KARACHI: Bulls of the Pakistan Stock Exchange (PSX) staged a strong comeback on Thursday, with the KSE-100 Index ending above the 32,000 mark.
Foreign investors closed as net sellers on Wednesday with a net outflow of $0.743 million.
On the economic front, Foreign Direct Investment (FDI) into the country declined 58pc to $156.7 million in July-August period (the first two months of FY20) as compared to $376.9 million in the same period last year. Moreover, FDI shrank to $83.36 million in August 2019 as compared to $197.95 million in August 2018.
Gaining 679.82 points, the KSE-100 index marked its intraday high of 32,235.29. It closed higher by 628.56 points at 32,184.03. The KMI-30 Index gathered 1,307.24 points to end at 51,114.11, while the KSE All Share Index accumulated 306.21 points, closing the day at 23,429.34. Out of the total traded shares, 217 advanced and 82 declined.
The overall trading volumes increased from 99.36 million in the previous session to 136.57 million. Lotte Chemical Pakistan Limited (LOTCHEM -0.68pc), Pakistan International Bulk Terminal Limited (PIBTL +10.38pc) and TRG Pakistan Limited (TRG +6.52pc) remained the volume leaders of the day. The scripts had exchanged 15.51 million shares, 7.99 million shares and 7.78 million shares respectively.
Kohinoor Energy Limited (KOHE +2.55pc) declared its financial results for FY19. The company announced a final cash dividend of Rs2 per share. Sales declined by 9pc YoY, while earnings per share depreciated from Rs4.31 in FY18 to Rs3.25 in FY19.
At-Tahur Limited (PREMA +4.43pc) also announced its financial performance for FY19. The company declared a final cash dividend of Rs0.37 along with bonus shares of 10pc. Sales increased by 26pc YoY, while EPS appreciated from Rs1.62 in FY18 to Rs1.86 in FY19.
Balochistan Wheels Limited (BWHL +4.98pc) posted an EPS of Rs5.36 for FY19 (Rs6.58 in FY18) along with with a final cash dividend of Rs2; while Berger Paints Pakistan Limited (BERG 0.00pc) announced an EPS of Rs4.93 (Rs4.99 in FY18) along with a final cash dividend of Rs1 per share.
