14,526 - more correction

14,526The Karachi Stock Market made a high of 14,760 today. It then dived down to a low of 14,440 and stayed in the red all day. The market closed down at 14,526. ICI Pakistan close at its all time high of Rs. 223.70 hitting its upper limit. The market is still in a corrective phase which could see more downside to 14,385 and 14,290. If 14,290 breaks it could be time for the Vaseline jar again !

Dividends : Allied Bank Ltd : EPS : 7.70
Fauji Cement : EPS : 0.17
KAPCO : EPS : 1.49 

News : Allied Bank Ltd., Pakistan’s third-largest lender by market value, reported a 25 percent increase in third-quarter profit because of higher income from investments and trading in shares. Net income rose to 1.39 billion rupees ($23 million), or 2.60 rupees a share, in the three months ended Sept. 30, from 1.12 billion rupees, or 2.08 rupees, a year earlier… Revenue rose to 3.81 billion rupees, from 3.14 billion rupees a year ago…The bank’s profit rose to 4.15 billion rupees, or 7.70 rupees a share, in the nine months ended Sept. 30, from 3.38 billion rupees, or 6.27 rupees a share, a year ago. Total revenue rose to 11.13 billion rupees in the first three quarters, from 9.02 billion rupees a year ago… Source : Bloomberg

Standard & Poor’s, the world’s leading index provider, announced today the launch of the S&P Select Frontier Index, the first investable index covering a broad range of frontier equity markets across Emerging Europe, Asia, South America and the Middle East. The S&P Select Frontier Index is comprised of 30 of the largest and most liquid companies from countries with smaller economies or less developed capital markets than traditional emerging markets, and as a result, have previously been excluded from most emerging market benchmarks and investment funds….the S&P Select Frontier Index includes companies from Bulgaria, Cambodia, Colombia, Jordan,Kazakhstan,Pakistan, Panama, United Arab Emirates and Vietnam. The biggest country weightings include Pakistan (28.97%), UAE (23.12%), Jordan (13.23%), Vietnam (11.54%) and Panama
(7.74%), while the top three constituents are MCB Bank (Pakistan)… To be eligible for inclusion in the S&P Select Frontier index, a company must have a minimum float-adjusted market capitalization of US$100 million, a minimum average daily value traded of US$2 million and a minimum of 15 days traded over the previous six months...PRNewswire   ( MCB, NBP, PSO, PPL and Lucky have a  weightage of 10.23%, 5.4%, 5.23%, 4.22% and 3.89%, respectively in the index.)

Upper Caps : ICI + Attock Refinery

Lower Caps : JOVC + Packages + NIB Bank

Market Low : 14.440.41  High :14,760.56

Market Close : 14,526.99 – 72.39 points down 

 

 

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Dividends



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