12,018
April 23, 2007
The Karachi stock market is still holding above 12k with thinner volumes and has been going down with corrections in certain stocks due to hitting the CFS limit of Rs.55 billion on Thursday. With SECP’s refusal to increase the limit, there could possibly be a further correction this week . While there is still talk of 12,500, it seems unlikely at the moment. 11,900 is the next downward support.
Dividends : Pakistan Refinery : EPS. Rs. (13.56)
Golden Arrow : EPS. Rs.140
Lucky Cement Ltd., Pakistan’s biggest maker of home building material, posted an 11.8 percent increase in third-quarter profit because of higher overseas shipments. Net income rose to 553.7 million rupees ($9 million), or 2.10 rupees a share, in the three months ended March 31, from 495.1 million rupees, or 1.88 rupees, a year ago, the Karachi-
based cement maker said in a statement to the stock exchange today. Sales rose to 4.53 billion rupees from 2.74 billion rupees a year ago. Source - Bloomberg
News : The Karachi Stock Exchange (KSE) on Monday implemented ‘Client Level Netting’ (CLN) regime in May Deliverable Futures Contracts, after refusal of further extension by the Securities and Exchange Commission of Pakistan (SECP)…Aaj News
Lower Cap : Pakistan Refinery + Maple Leaf Cement
Market Low : 11,984.18 High : 12,123.72
Market Close : 12,018.68 – 72.85 points down
