11,607
February 23, 2007
The Karachi Stock market made a high of 11,636 but didn’t have the juice to break its resistance level as close above it. It got banged down to 11,542 (yesterday’s closing index ) and closed up at 11,607. Volumes have increased today with 192.2 million shares traded. The Bank of Punjab was the volume leader with 31.9 million shares traded, closing up Rs.4. Fuck all happened in OGDC, its still below its 30 DMA. PSO shot up by Rs.15.25.
The market showed some strength with a quick recovery from 11,542 but still needs to close convincingly over 11,635 for more upside joy.
Dividends : MCB : 15% cash + 15% Bonus : EPS : Rs.23.4
Sui North Gas : EPS: Rs.2.16
Soneri Bank : 10% Bonus : EPS : Rs.3.29
National Bank of Pakistan, Faysal Bank and Pakistan Oilfields will announce their results on Monday.
Sui Northern Gas Co. Pakistan’s biggest gas distributor, posted a 67 percent decline in second-quarter profit because of higher taxes. Net income fell to 408.46 million rupees ($6.7 million), or 0.74 rupees a share, in the three months ended Dec. 31, from 1.23 billion rupees, or 2.24 rupees…Revenue rose to 30.5 billion rupees from 24.1 billion rupees a year ago.
News : The government is set to review a cap on the sale prices of natural gas to attract much needed foreign investment in its upstream oil and gas sector, government and industry officials said on Friday. Oil and gas industry stakeholders are working on proposals, to be submitted to the government in coming weeks, to help frame a policy to boost investment in energy exploration, and to cut an annual oil import bill of $6.5 billion….The current pricing policy has capped gas sale prices of over 90 percent of fields at $36 a barrel crude oil equivalent…. Aaj News
Lower Caps : Callmate Telips + Sui North + Soneri Bank
Market Low : 11,542.21 High : 11,636.87
Market Close : 11,607.84 – 64.85 points up
