A week of corrections
March 1, 2009(There are no graphs for the last week as the KSE website has changed and its daily index chart is embedded in Flash. If anyone knows of an alternative website, with a daily chart for the KSE-100 index that is easy to save as a png. file , then please leave a comment.)
The week opened at 5951 and dipped down to 5,407 to close at 5,727. Wednesday saw the Karachi Stock market crash, down 5%, on Sharif’s court dismissal and then it recovered by the first half on Friday. The bulk of the result season is over and the next week depends on further political turmoil, if any.
Dividends : Attock Petroleum, marketeer of petroleum products on Friday came out with Rs1.47 billion profit for July-Dec 2008, defying the fallout from a sudden decrease in the international oil prices. The company also announced an interim cash dividend of Rs10 per share for the first half of fiscal 2008-09, which saw profit going up by 35 per cent as compared to the same period of previous year. Interestingly, the profit for the second October-December quarter increased 27 per cent over the same period of previous year despite the fact that it was the worst time for companies to operate as the oil price had plunged and circular debt swelled.
Pak Oilfields Ltd (POL) has posted a profit after tax of Rs1.605 billion for the half-year of 2008-09 and has declared an interim cash dividend of Rs8 per share. According to financial results of the company despatched to the Karachi Stock Exchange on Friday, the pre-tax profit was estimated at Rs1.866 billion for the period ending December 2008. The earning per share has declined Rs6.79 for the period under review… Source : The News
