Karachi February 24 2022: KSE 100 Index losses extends to 1,172 points or ~2.61 percent to 43,955 on Thursday (time 1:41 PST) as Habib Bank drops 2.4 percent after the result announcement. The market was already down two percent prior to HBL result announcement on news of Russian forces invades Ukraine with strike on major cities as per data provided by Pakistan Stock Exchange.
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HBL is the leading contributor towards drop in KSE-100 Index with negative contribution of 96 points as the share price drops 4.29 percent followed by TRG that contributed negative 77 points as share price hit lower limit in today’s trading session.
Lucky cement contributed negative 76 points to the KSE-100 as stock price drop 4.5 percent.
Habib bank limited declared profitability of PKR 35.5 billion in 2021 compared to PKR 30.9 billion in 2020. Net interest income of the bank adds only PKR 1.3 billion to additional profitability in a time when the banks expenses grew by ~PKR 6 billion.
