11,031 - 11k breaks and holds
January 25, 2007
Another positive day in the Karachi Stock market with the KSE-100 index breaking 11,000 to make a high of 11,083 and closing above 11k at 11,031.The last market the time broke 11k was Oct.17th 2006. The volume of shares traded today was 314 million , the highest of the year and also for a long time.
OGDC finally got off its arse closing at 121.2 breaking out of its recent range. MCB broke Rs.300 intra-day and NBP was up another Rs.6.25. The market has now risen 991 points since Jan. 1st 2007 and is up 9.8% for the year so far. With a long weekend ahead there might be some sell off towards the end of the "Friday show".
Dividends : Pakistan Petroleum Ltd (PPL) : RESULT FOR THE HALF YEAR ENDED 31/12/2OO6 45% Cash . EPS : Rs.12.62
PROFIT BEFORE TAXATION RS. IN MILLION 12,197.535 / PROFIT AFTER TAXATION RS. IN MILLION 8,449.317
Pakistan Petroleum Ltd (PPL) posted a better-than-expected 46 percent rise in first-half net profit, fuelled by higher natural gas prices, sending its shares up 5 percent….July-December net profit jumped to 8.45 billion rupees ($139.12 million) from 5.78 billion rupees a year earlier and beat market forecasts for 7.7-7.9 billion rupees…PPL shares, valued at $2.8 billion, trade at just under 10 times forecast earnings, against 10.5 times for India’s Oil and Natural Gas Corp. Ltd and an Asia-Pacific sector average of more than 29 times…. Source : Business Recorder
Fauji Fertilizer and the Golden Arrow Selected Fund (GASF) will announce their results 2moro.
News : The Karachi Stock Exchange (KSE), with the approval of Securities and Exchange Commission of Pakistan (SECP) has announced that the implementation of the Client Level Netting (CLN) shall be effective from March 1, 2007 for the ready market…. Business Recorder
Upper Caps : Pakistan Petroleum Ltd / Soneri Bank
Market Low : 10,856.74 High : 11,083.27
Market Close : 11,031.08 — 174.34 points up
