13,874 - a little bounce
January 20, 2008
Friday’s market saw the KSE-100 index dip down to 13,577 and then bounce back up to recover in the 2nd session closing up at 13,874. PTCL was the flavour of the day with 31 million shares traded. The next upward resistance is 14,050.
News : The government is considering increasing petroleum prices from February 1, ARY TV reported on Saturday.The channel quoted Petroleum Ministry sources as saying that petrol prices would be increased by Rs 2.5 a litre while diesel prices would be increased by Rs 2 a litre…Daily Times
Pakistan Petroleum Limited (PPL) earnings are expected to increase by 14 percent to Rs 9.6 billion in the first half of FY08 as compared to Rs 8.4 billion in the corresponding period last year.PPL is scheduled to announce its results on January 24, 2008 and the earning per share (EPS) of the company is expected to surge to Rs 12.75 as compared to an EPS of Rs 11.2 recorded during the corresponding period of last year… Aaj News
The ministry of finance has cleared a proposal of the ministry of petroleum for arranging Rs 40 billion syndicated loan from a banks consortium led by National Bank of Pakistan for payments to OMCs against outstanding differential on POL prices. Sources said the MoF is negotiating the loan with NBP, MCB, Allied Bank and Bank Alfalah…In all, 12 OMCs are operating in Pakistan. State-owned company PSO’s market shares is roughly 60 percent. Shell comes next with 23 percent. The rest 17 percent goes to the remaining 10 OMCs. These include two world giants - Total and Chevron. Their share is around 13 percent in the market… Aaj News
Following high level consultations with the Securities and Exchange Commission of Pakistan (SECP), FTSE Group (“FTSE”), the global index provider has deferred its decision to remove Pakistan from the FTSE Global Equity Index Series (“GEIS”) from June 2008. The announcement to the above effect was made by FTSE from its London office on January 17, 2008… Daily Times
Upper Caps : Arif Habib Ltd / Js Bank Ltd / Nib Bank / Sitara Peroxide
Lower Cap : JSCL
Market Low : 13,577.36 High : 13,877.74
Market Close : 13,874.54 – 200.50 points up.
