7,720 - some recovery
July 31, 2009
After 5 sessions of downward movement, the KSE-100 index recovered on Friday to close up at 7,720, up 229 points ( 3%). The market was boosted on the positive news of talks with the IMF loan being on track and the SBP governor’s remarks hinting a rate cut in the upcoming Monetary Policy on August 15th.
Dividends : Fauji Fertilizer Company (FFC) posted Rs 4.5 billion net profit in the first half of 2009, reflecting an increase of 38 percent over Rs 3.286 billion in the same period of previous year. The earnings per share of the company also rose to Rs 3.70 in the period against Rs 4.84 in the previous year…The company also announced a second interim dividend of Rs 2.6 per share taking the cumulative dividend per share for 2009 to Rs 6.9. Company’s revenues rose 20 percent to Rs 16.9 billion in the said half as compared to Rs 14 billion in the corresponding period of previous year… Daily Times
Market Low : 7,491.76 High : 7,734.37
Market Close : 7,720.93 — 229.17 points up
