A volatile session with earnings season in full swing
43 shares rose while 54 fell, with SYS PA (+4.21%), COLG PA (+6.81%) and PSO PA (+4.0%) the biggest contributors to index gains
FFC PA (-2.17%), EFERT PA (-1.66%) and MTL PA (-3.02%) were the biggest index drags
FFC PA 9MCY24 EPS: PKR 33.45 +92% YoY. The company skipped the quarterly dividend for the first time (based on reports available till 2002), due to the ongoing amalgamation process which caused price to sell off post announcement. The company is likely to resume dividend payments after the merger with FFBL, as per the notice issued by the company.
LUCK PA (+0.73%) 1QFY25 unconsolidated earnings EPS: PKR 22.40, -5% YoY. On a consolidated basis EPS: PKR 61.18, -1% YoY
AIRLINK PA (-0.24%) 1QFY25 EPS: 2.13, +3% YoY was slightly below expectations
With 90k now hit, the market can see some profit-taking and correct down to the 88k level.
