11,180 - More bashing
February 28, 2007
Another day of downside at the Karachi Stock Exchange. The market opened down with a gap of 135 points making a low of 11,157 and closed at 11,180. Perhaps it was more the ripples from yesterday’s China stock market crash, which fucked markets worldwide, than the impending CLN issue that took the market down. There was some foreign selling in Fauji Fertilizer and Engro towards end and OGDC got bashed down to 119.25. The market has closed below its 30 DMA after some time. 11,100 and 10,900 are the next downward resistance levels.
SCRA inflow of $12 million takes February’s total to $161.6 million and $543 million for the current fiscal year.
Dividends : Bank of Punjab : 32.5% Bonus. EPS : Rs.13.14
ICI Pakistan : 30% Cash. EPS : Rs.10.49
Sui South Gas : EPS : Rs. 0.72
The Bank of Punjab Limited (BOP) has earned a pre-tax profit of Rs 4.8 billion in the year 2006 against Rs 3.2 billion in the preceding year, reflecting an increase of 51 percent….Earning per Share (EPS) for the year ending on December 31, was Rs 13.14 as compared to Rs 8.13 in the preceding year…Bank’s total assets on December 31 stood at Rs 165 billion , showing a growth of 48 percent from Rs 111 billion last year. Deposits and advances of the bank grew by 56 percent and 59 percent to Rs 137.7 billion and Rs 101.3 billion respectively…. Aaj News
News : The Oil & Gas Development Company Limited (OGDC) has announced acquisition of 70 percent working interest, along with operatorship, in Guddu Block, for IPR Transoil Corporation (IPRTOC). Guddu block covers an area of 2093.4 sq km over Sindh and Punjab provinces.The Block lies in the Middle Indus Basin within the largest gas producing fields of Pakistan ie, Sui, Qadirpur, and Man…. Business Recorder
Lower Caps : Fauji Fertilizer
Market Low : 11,157.77 High : 11,376.12
Market Close : 11,180.02 – 196.10 points down
