15,538 - another new high
April 15, 2008
After a shaky close yesterday, the KSE-100 index continued its upward climb with a high of 15,560 and closed at another record high of 15,538. POL was the top dog in terms of volume , trading 20.7 million shares out of a relatively low total of 141.8 million today. Closing at 402.5 , it’s POL’s highest close in nearly 2 years. Oil has jumped to a new high of nearly $114 today. Upward resistance is at 15,600.
Dividends : Arif Habib Ltd : EPS : 15.98
News : The Competition Commission of Pakistan (CCP) has found seven banks along with the Pakistan Banking Association (PBA) guilty of cartel-like behaviour. The CCP, thus, imposed a penalty of Rs205 million on them on Tuesday. This action has been taken for the first time against the influential banking sector, which had earned billions of rupees by fleecing voiceless clients for having a huge spread (gap between lending and deposit rates), during the Musharraf and Aziz regime. The CCP imposed a penalty of Rs175 million on seven banks, while it also slapped a fine of Rs30 million against the PBA.
The seven banks which have been fined Rs25 million each include Habib Bank Limited, Allied Bank Limited, MCB Bank Limited, United Bank Limited, Saudi Pak Bank Limited, Atlas Bank Limited and National Bank Limited… The News
Italian oil company Eni SpA has started production from its Badhra natural gas field in Pakistan and completed boosting capacity at the Bhit treatment plant fed by Badhra, Eni said on Tuesday…"Total investment in the Badhra Development and Bhit Acceleration Project will be approximately $50 million," Eni said. Kirthar Joint Venture, the title holder of the Bhit and Badhra gas fields, comprises Eni, with a 40 percent share, Royal Dutch Shell Plc , with 28 percent, Pakistan’s Oil & Gas Development Co. Ltd. , with a 20 percent stake, and Premier Oil Overseas BV and Kuwait Foreign Petroleum Exploration Co., at 6 percent each… Aaj News
Upper Caps : Pak Reinsurance ( PAKRI has capped consecutively every day since April 4th ! )
Market Low : 15,437.84 High : 15,560.66
Market Close : 15,538.45 – 100.61 points up.
