14,016

14,016Another day of lacklustre volumes and sluggishness at the Karachi Stock Exchange. Engro Chemical was the top scorer on the board with 16.6 million shares traded of a total 98.7 million. The next upward resistance remains at 14,100.

Dividends : Fauji Fertilzer (FFC) : 35% Cash . EPS : 10.86
Fauji Fertilizer Company (FFC) has recorded net earning of Rs5.361 billion for the full year ended Dec 31, 2007, which is 15.6 per cent higher than Rs4.363 billion last year…The net earning of the company translates into earning per share (EPS) of Rs10.86 for the period under review against Rs9.39 EPS in 2006. The increase in its earning was achieved primarily on the back of a better urea price in 2007…. Source : The News

The State Bank of Pakistan (SBP) on Thursday announced an increase in its discount rate to 10.5 percent from 10.0 percent, reinforcing its fight against rising inflation and widening external and fiscal deficits.The move was widely anticipated and welcomed by bankers and analysts, though stockbrokers expected a knee-jerk negative reaction in the share market when it opens on Friday….In another step to tighten monetary conditions, Akhtar said banks’ cash reserve requirement (CRR) will be increased to 8.0 percent from 7.0 percent for deposits and time liabilities below one year…. Aaj News

Engro Food Limited has announced that it will invest about Rs3.4 billion over two years in a bid to expand its current portfolio.Under the expansion plan, the company would set up a new dairy farm and develop an ice-cream venture in Pakistan, Engro Food CEO Sarfaraz Rehman unveiled this at a press conference… Source : The News

Upper Caps : Arif Habib Ltd. / Sitara Peroxide /

Market Low : 13,946.19 High : 14,031.28

Market Close : 14,016.94 –26.83 points up   

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Dividends, Fertilizer



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