In FY 2020-21, 83 KSE-100 Index companies saw their combined earnings rise by 56 percent year on year, reaching a record high of Rs875 billion ($5.15 billion). In addition to increased profitability, FY21’s payout was 46 percent. A report released on Tuesday by Arif Habib Limited (AHL), shows that earnings increased by 43pc in FY19 and by 41pc in FY18, respectively. The report did note, however, that during the Q4 FY21, a 4-percent quarter-on-quarter decline was seen “amid slowdown in cyclicals and sectors exposed to the PKR-USD parity”. The analysis in the report included the results of 83 companies, with 17 still withholding their financial results. When it comes to market capitalization, the companies included in the study account for 88pc. The KSE-100 Index has been under pressure recently, falling to levels last seen in May as the economy struggles with rising interest rates and a growing current account deficit. But on Tuesday, the index snapped a seven-day losing streak to near 45,300. PSX Chairman Farrukh Khan told Bloomberg that Pakistan’s equity market remains appealing to investors. This year’s profit increase of the KSE-100 Index companies has been around 60-70 percent compared to 2020 and 2019, he stated. The Pakistani economy, like the rest of the globe, has been impacted by the pandemic, but is now stabilising. “Our comparative performance in the area has improved, notably our large-scale manufacturing and other businesses, which have seen record exports,” he said. When queried about the spike in foreign selling, the official said there is ample local liquidity, and other investors have stepped in to “snatch up those bargains.”