11,378
February 27, 2007
The KSE-100 index continued to take a hammering making a low of 11,251 and then recovered to close at 11,378. Bank Alfalah was the volume leader of the day having announced its results this morning. The market has to cross 11,500 and hold above it for further upside. With the Client Level Netting issue on March 5th, the market should stay rangebound until its absorbed. 11,635 still remains the major hurdle to overcome for serious upside. As all the major blue chip stocks resulted are out barring BOP 2moro, activity will be stock specific in those that gave good results. While a pullback is possible, invest in more Vaseline !!
Dividends : Bank Alfalah Ltd (BAFL) : 30% Bonus. EPS : Rs.3.86 .RESULT FOR THE YEAR ENDED 31/12/2OO6
PROFIT BEFORE TAXATION RS. IN MILLION 2,565.945 / PROFIT AFTER TAXATION RS. IN MILLION 1,762.691
Allied Bank Ltd (ABL) : 25% Cash + 20% Bonus. EPS : Rs.9.8
Attock Cement : EPS : Rs.6.91
Bank of Punjab and Sui South gas will announce their results 2moro.
News : Fertilisers offtake across the country in January 2007 saw significant drop, by nearly 27 percent, while the prices rose by Rs 2 to Rs 8 per bag… Business Recorder
Pakistan’s earnings per share (EPS) growth for 2007 is expected to be 20.6 percent, the second highest in Asia behind Indonesia, which has expected EPS growth of 26.2 percent, according to a Merrill Lynch report earlier this month….Source : Aaj News
Lower Cap : Pioneer Cement
Market Low : 11,251.10 High : 11,413.30
Market Close : 11,378.02 – 15.95 points down
