12,369 - KSE-100 index hits its all time high (so far)
April 30, 2007
Finally after some struggling and plodding, the KSE-100 index broke its previous all time high of 12,337 to close at 12,369 and made a new intra-day high of 12,376. A relative higher volume of shares was traded (349.7 million ) and the market breath has increased with plenty of selective buying. The market has made an all time high with not much help from the oil sector, which, despite recent high oil prices, has done fuck all.
Whether the market has the juice to continue its upward ride to 12,500 remains to be seen this week. It’s possible a correction could occur before that. If the CFS cap of Rs.55 billion was lifted, the market would certainly get a further upward boost.
Dividends : The following are the EPS for these companies. The result season is over for the main stocks.
PTC : 2.33
NBP: 6.11
ABL : 2.51
SNGP: 3.30
AICL : 5.49
POL : 25.54
SCBPL : 0.37
Pakistan Telecommunication Co., the nation’s biggest telephone service provider, said third-quarter profit fell 21 percent after the company lost business to rivals including Callmate Telips Telecom Ltd., and Pakistan Mobile Communications Ltd., or Mobilink. Net income fell to 3.5 billion rupees ($58 million), or 0.69 rupees a share, in the three months ended March 31, from 4.45 billion rupees, or 0.87 rupees, a year earlier,..Revenue fell to 15.72 billion rupees from 16.22 billion rupees… Source : Bloomberg
National Bank of Pakistan, the nation’s biggest lender by assets, reported a 20 percent increase in first-quarter profit because of higher interest rates. Net income rose to 4.33 billion rupees ($71 million), or 5.31 rupees a share, in the three months ended March 31, from 3.61 billion rupees, or 4.43 rupees, a year ago, the Karachi- based bank said in a statement to the stock exchange today. Revenue rose to 10.05 billion rupees, compared with 8.54 billion rupees a year ago…Source : Bloomberg
Exploration firm Pakistan Oilfields Ltd. (POL) on Monday reported an 8.4 percent fall in nine-month net profit, which analysts said was due to lower production from the company’s biggest oil field…Aaj News
News : British energy giant BP was tipped to win a majority stake in Pakistan State Oil (PSO) in a deal worth 600 million dollars (441 million euros), The Times reported on Monday without citing sources.BP was bidding for the stake with MerchantBridge, a new London-based investment bank…PSO owns two refineries and 3,700 petrol stations in Pakistan, and posted sales of 353 billion Pakistani rupees (4.3 billion euros, 5.8 billion dollars) in the group’s financial year ending in June 2006… Aaj News
Upper Caps : Arif Habib Securities + Bank Alfalah
Market Low : 12,224.77 High : 12,376.42
Market Close : 12,369.7 – 134.51 points up
