OGDC results - market holds 10,300
August 15, 2006
A sluggish, lacklustre day on the Karachi Stock Market. OGDC’s result did nothing to trigger its price and subsequently the market. With an intra-day high of 10,439 and briefly breaking 10,300 down to 10,290, the market closed down at 10,316.90. While it held on to the 10,300 level it quite possible it could go down further to test 10,150 and 10k. OGDC closed at 133.4 , below its 30,50 and 200 DMA . Not a good sign and it could well break 130 2moro. The market volume of 63.6 million is the lowest for some time. Re-testing its recent peak of 10,900 seems far away at the moment as after its correction, the steam seems to have gone out of the market despite other big stocks yet to announce their results this month.
OGDC : FINAL DIVIDEND FOR THE YEAR ENDED 3O/O6/2OO6: 37.5% CASH. EPS = Rs. 10.69
UPPER CAP : SNBL
Market Close : 10,316.9 — 89.5 points down.
