10,578
July 28, 2008
The KSE-100 index got hammered today on investors’ fears of another interest rate hike due to be announced 2moro. The market fell 453 points to close down at 10,578. It could fall further depending on the amount of the interest rate hike, the bigger the hike, the greater the fall. Be prepared with large jars of Vaseline.
Dividends : Engro : 20% Cash / HBL : EPS : 9.75 UBL : 15% Cash EPS : 5.73
News : The government has decided to phase out custom duties on petroleum products in a move to prevent masses from the effect of subsidy reduction in the future, Federal Minister on Finance Naveed Qamar said….He said the government has decided to reduce the profit margins of Oil Marketing Companies (OMCs), refineries and dealers on the sale of petroleum products…Qamar said the government is also considering to merge diesel subsidy in 16 percent General Sales Tax (GST) levied on each litre…. Daily Times
Market Low : 10,542.90 High : 11,032.17
Market Close : 10,578.49 — 453.68 points down
