Karachi, April 29, 2020: Today the benchmark KSE-100 index closed at 33,159 levels (up 1.9 percent) following a bleak trading session. Overall, the volumes remained dry with petite participation from the investors due to Ramadan.
In the E&Ps, OGDC (4.5 percent), PPL (3.0 percent) and POL (6.3 percent) closed in the green zone as the U.S. crude prices inched up ahead of U.S. stockpile data. NML (6.3 percent) announced its 9MFY20 consolidated EPS of Rs14.06 vs EPS of Rs16.18 (SPLY) with no cash payout.
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PIOC (2.5 percent) announced its 9MFY20 LPS of Rs2.30 vs EPS 3.63 (SPLY) with no cash dividend. LUCK (3.0 percent) in the cements also closed in the green trajectory. PSO (-0.3 percent) in the OMCs announced its 9MFY20 consolidated LPS of Rs2.19 vs EPS 12.62 (SPLY) with no cash dividend due to hefty inventory losses.
POL (6.3 percent), OGDC (4.5 percent), LUCK (3.0 percent), FFC (2.7 percent), PPL (-3.0 percent), UBL (1.8 percent) and ENGRO (0.3 percent) cumulatively contributed to the positive index close. Traded value stood at $48 million, up 32 percent and volume stood at 140 million shares, down 12 percent.
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Furthermore, major contribution to total market volume came from MLCF (1.4 percent), HASCOL (2.0 percent), DGKC (0.5 percent), EFERT (3.5 percent), PIOC (2.5 percent) and UNITY (-0.9 percent). Going forward, we expect market to remain under pressure and recommend investors to sell on strength amidst result season.
