11,557 - Upside begins again
February 19, 2007
The Karachi Stock market made a high of 11,578 and closed up at 11,557 after some days of correcting, since it crossed the 12k mark. ORGYDC was the star performer of the day with the top volume of shares traded, up Rs.3.6 and PPL up Rs.8.80. DGKC Lucky and Maple Leaf Cement closed at upper cap. The next upward resistance is from 11,635 -750. Given that OGDC, POL, PTC, & MCB amongst others are due to announce their results see week, the market should head upwards.
Dividends : Lucky Cement . EPS: Rs.3
Board Meetings for February - updated
Cherat Cement and Nishat mills will announce their results 2moro
News : Pakistan Petroleum Ltd plans to spend up to 10 billion rupees ($165 million) a year on exploration in Pakistan and is also getting involved in a project in Yemen…PPL wants to expand the number of blocks it operates in Pakistan to 30 in the next few years, from 24 now, said Syed Munsif Raza, Managing Director of Pakistan’s second largest oil and gas exploration firm…PPL, which operates Pakistan’s largest gas field at Sui, in the troubled south-western province of Balochistan, accounts for 26 percent of Pakistan’s gas production. Source : Business Recorder
Pakistan’s top telecom firm, Pakistan Telecommunication Co Ltd (PTCL), is expected to show a slight decline in first-half profits on falling revenue from international call traffic, analysts said on Monday.PTCL, in which UAE-based Emirates Telecommunications Corp (Etisalat) has a 26 percent controlling stake, is scheduled to release its financial statement for the six months to Dec. 31, 2006, on Thursday….Earnings per share for the period are expected to range between 1.98 rupees and 2.11 rupees, compared with 2.12 rupees in the corresponding period last year… AAJ News
Upper Caps : DGKC / Lucky Cement / Maple Leaf Cement / Pakistan Refinery
Market Low : 11,311.35 High : 11,578.38
Market Close : 11,577.71 – 198.31 points up
