14,957

14,957The KSE-100 index finally rebounded after 3 sessions of corrections, to close up at 14,957. OGDC was the top volume stock traded with 22.6 million shares. PSO closed short of its upper limit at 505.50, a record close. Oil has jumped upto over $104.70. The market should head upwards to test its previous high of 15,079.

News : Crude oil rose above $104 a barrel for the first time in New York after OPEC gave no indication it will increase production,…Crude oil for April delivery rose $5, or 5 percent, to settle at $104.52 a barrel on the New York Mercantile Exchange, a record close. It was the biggest one-day increase since Jan. 30, 2007. Futures touched $104.95 a barrel, the highest since trading began in 1983. Prices are up 74 percent from a year ago… Bloomberg

Lucky Cement has come out as the biggest contributor to cement industry’s profits as it posted earnings of Rs1.35 billion in the first half of FY08, more than the combined profits of other cement companies, ….The cumulative profits of 18 cement companies, out of 21, representing almost 90 per cent of the total market capitalisation of the cement sector, has been Rs284 million against Rs2.1 billion in 1HFY08 in the same period last year, registering a decline of 87 per cent….The 18 companies are Al-Abbas Cement, Attock Cement, Bestway Cement, Cherat Cement, Dadabhoy Cement, DG Khan Cement, Fauji Cement, Fecto Cement, Flying Cement, Gharibwal Cement, Javedan Cement, Kohat Cement, Lucky Cement, Maple Cement, Mustehkam Cement, Pakistan Slag Cement, Pioneer Cement, and Zeal Pak Cement… The News

Upper Cap : JOVC

Market Low ; 14,736.34 High : 14,973.51

Market Close : 14,957.90 – 221.56 points up.  

source: karachistockmarket.blogsome.com

Filed under Cement, Daily Market News



Leave a Comment

rss feed