KARACHI STOCK MARKET NEWS

Sensibly for once , the KSE-100 index will remain "frozen " and the "floor" will not lift until November 15th as the required support funding is not ready.

Managing Director Karachi Stock Exchange (KSE), Adnan Khan Afridi has said that the lower cap on the benchmark KSE-100 Index should be kept intact till the equities market support funds are released.Speaking at a press conference after a meeting with the Prime Minister’s Adviser on Finance, Shaukat Tareen here on Sunday Adnan Khan Afridi said the prices floor will continue to be placed at KSE till there is stability in the share market… The News

The government has established a Rs 20 billion open-end fund to be injected into the stock market for providing a soft landing to the market on its opening on October 27, 2008. The government has also given Rs 30 billion guarantee to foreign investors, who would avail put options. The Securities and Exchange Commission of Pakistan (SECP) on Wednesday gave formal approval for establishing the required fund. These decisions were taken in a meeting between the Securities and Exchange Commission of Pakistan (SECP) and the Board of Directors of the three stock exchanges ie KSE, LSE and ISE, under the chairmanship of Razi-ur-Rahman Khan Chairman SECP…The NIT is in the process of finalising the finer details for smooth operation of the said Fund. The Fund is expected to provide a soft landing to the market on its opening on October 27, 2008. The fund will invest in seven state-owned entities namely Oil and Gas Development Company Limited, Kot Addu Power Company Limited, Pakistan Petroleum Limited, Sui Southern Gas Company Limited, Sui Northern Gas Pipelines Limited, Pakistan State Oil Company Limited and National Bank of Pakistan. In addition to the market operation of the fund, the fund is being provided with a Rs 30 billion GOP guarantee to enable it to write put options on the seven state-owned entities detailed above…Aaj News

 

Pakistan Petroleum Ltd (PPL) : 22nd

ICI Pakistan (ICI) : 23rd

Pakistan Refinery Ltd. (PRL)

Arif Habib Ltd (AHL)

Askari Bank (AKBL)

Kot Addu Power Co. (KAPCO)

Arif Habib Securities Ltd (AHSL) 4.pm

Habib Bank Ltd (HBL) : 24th

Arif Habib Investment Management Ltd (AHIML)

MCB Bank (MCB)

Pakistan State Oil (PSO)

Arif Habib Bank Ltd (AHBL)

Nishat Mills Ltd (NML) : 25th

Bank Alfalah Ltd (BAFL) : 27th

United Bank Ltd (UBL) 

Oil & Gas Development Co. Ltd (OGDC)

Lucky Cement (LUCK)

Packages Ltd (PKGS)

Engro Chemical (ENGRO) : 28th

Shell Pakistan (SHEL)

Adamjee Insurance (AICL)

D.G.K. Cement Co. Ltd (DGKC)

Pakistan Reinsurance (PAKRI)

Bank of Punjab (BOP)

Fauji Fertilizer Ltd. (FFC) : 29th

Hub Power Co. (HUBCO)

 

 

Pakistan Oilfields (POL) announced a final cash dividend at Rs 16 per share i.e. 160 percent for ended June June 30, 2008, KSE announced. The company also declared 20 percent bonus shares for the year…According to financial results for 2007-08, the profit after tax jumped to Rs 8.616 billion in 2007-08 over Rs 5.939 billion in the previous year whereas eps soared to Rs 43.71 in the said year against Rs 30.13 in the previous year.The net sales also spiked to Rs 16.739 billion from Rs 14.239 billion a year before...Daily Times