13,684
July 26, 2007Due to the fucked up electricity situation in Karachi, a buggered laptop and a hopeless internet connection, posting will be sporadic for the next 2 weeks.
The Karachi stock market finally crossed 13,800 today , but could not sustain itself and closed up at 13,684. OGDC was the flavour of the day with 33 million shares traded. Further upside comes on breaking and holding 13,800. Keep the Vaseline handy as these are explosive times.
Dividends : Fauji fertilizer Bin Qasim Ltd. (FFBL) : 5% Cash
News : Pakistan’s Oil and Gas Development Co. Ltd. (OGDCL) is in talks for its first overseas joint ventures in China and is exploring forays into the Middle East, North Africa and Eastern Europe…OGDC will be the first Pakistani oil firm to venture abroad, coming late into an arena led by Chinese, Indian, Japanese and South Korean companies competing to secure scarce energy resources, sparked by trebled oil prices and geopolitical uncertainty in the Middle East….With a market capitalisation of about $9 billion on the Karachi Stock Exchange, OGDCL holds the largest share of the country’s recoverable hydrocarbon reserves: 32 percent of gas and 37 percent of oil. Pakistan produces about 69,000 barrels of oil and nearly four billion cubic feet of gas a day and spends more than $6.5 billion annually on petroleum imports to meet its growing energy demand.The country’s domestic gas production is forecast to decline after 2010 and it would have to import costly fuel beyond that… Aaj News
Market Low : 13,582.73 High : 13,814.01
Market Close : 13,684.27 – 89.07 points up
You are so disturbed with KESC - what do you predict about KESC stock value and its future
Comment by Sohail — July 31, 2007 @ 8:13 pm
Hahahahahahahah !! I have never really considered KESC as a stock worth thinking about. There are far better stocks in the market to look at and for the future it will probably be as fuc%@d up as it is now !
Comment by karachistockmarket — August 2, 2007 @ 11:56 am