11,565 : ending on a pre - Eid high
October 19, 2006
As mentioned yesterday the Karachi stock market broke 11,500 and made a high of 11,596, closing at 11,565. Since the 17th Oct. it has risen by 660 points, a 6% increase.There seems to be a lot of foreign buying with money being pumped into OGDC and NBP. OGDC closed at its upper limit at Rs.156 and has risen nearly Rs.20 this week. The next resistance is 11,650.
News : The Securities and Exchange Commission of Pakistan (SECP) has allowed short selling in the futures market from the November 2006…. Business Recorder
The Securities and Exchange Commission of Pakistan has asked the Karachi Stock Exchange to create a mechanism to enforce payment of margins by institutions…. Business Recorder
The Global Depository Receipt (GDR) of MCB Bank Limited was formally listed on London Stock Exchange on Tuesday, making it the first Pakistani company to get listed at the LSE…. Dawn
Dividends : Fauji Fertilzer Bin Qasim : 7.5% Cash. EPS : Rs.1.42
Engro Chemical : 30% Cash. EPS : Rs.8.36
Bank Al-Falah :EPS : Rs.3.04 PROFIT BEFORE TAXATION RS. IN MILLION 1,898.633 : PROFIT AFTER TAXATION RS. IN MILLION 1,341.559
Upper Cap : OGDC
Lower Cap : Metropolitan Bank
Market Low : 11,399.83 High : 11,596.34
Market Close : 11,565.25 — 165.42 points up
