15,056 - Closing above 15k
February 26, 2008
The KSE-100 index has finally closed above 15k at 15,056, another new record close. The Karachi Stock market is up by 10% since January 1st. and has risen 1,170 points in the last 10 sessions. D.G.Khan Cement was the top volume stock traded today with 42.1 million shares traded. MCB closed at 480.50, yet another new high and Engro closed at 307.35 at its upper limit, its highest close so far. Oil crossed $101 today. The market continues to look overbought though there seems to be no sign of a proper correction as yet. Upward resistance is 15,139 , the current intra-day high.
Dividends : Bank Alfalah Limited has earned Rs 3.130 billion as profit after-tax in the year ended December 31, 2007 as compared to Rs 1.762 billion earned in the same period in 2006. The earnings per share of the bank increased to Rs 4.82 in the period under review against Rs 2.91 in the same period a year back… The board also resolved that the authorised capital of the bank be increased from Rs 8 billion to Rs 15 billion divided into 1.5 billion shares of Rs 10 each. According to the results, the bank’s mark-up/return/interest income surged to Rs 25.783 billion in this period against Rs 21.191 billion in the same period a year back. While the mark-up/return/interest expenses stood at Rs 16.620 billion against Rs 15.232 billion… Business Recorder
DG Khan Cement Company Ltd has announced its 1H (Jul-Dec) FY08 results, posting a 61 per cent decline in its profitability. The company’s earning per share (EPS) stood at Rs1.3 (net profits of Rs330 million) as compared to EPS of Rs3.4 (net profits of Rs855 million) in the corresponding period last year…the decline in earnings was primarily because of decreasing cement prices in the country which is on account of excessive supply of the product in the market…The company’s gross profits stood at Rs761 million, declining by 36 per cent, whereas gross profit margins dropped significantly as they stood at 16 per cent as compared to 37 per cent in 1H FY07…. The News
The Bank of Punjab (BoP) has applied to the State Bank of Pakistan (SBP) for the issuance of a licence to launch Islamic banking from the platform of BoP. After the issuance of license, BoP will open specific Islamic banking branches throughout the country, BoP President Hamesh Khan, said…. Aaj News
Upper Caps : Nishat Mills / Engro Chemical / Sitara Peroxide
Market Low : 14,932.55 High : 15,056.27
Market Close : 15,056.27 – 108.72 points up.
