14,980

14,980On Friday the KSE-100 index opened up, dipped down to 14,888 and then rose to close at 14,980, another all time high. DGKC was the flavour of the day with 32.1 million shares traded. MCB has made another all time high closing at 472. The market is getting more overbought by the day and while it corrected down to 14,888 and closed higher, there could well be a proper correction down to 14,700 or lower.

Dividends : Pakistan Oilfields Limited (POL) has posted 18 percent growth in its net profit to Rs 3.719 billion in six months (July-December) of 2007 compared to Rs 3.149 billion in the corresponding period of last year…earnings per share (eps) also rose to Rs 18.87 during the period under review over Rs15.98 in the last year….Earnings per share also dipped to Rs 4.29 in the said year compared to Rs 5.32 in the previous year whereas profit before tax declined to Rs 2.697 billion compared to Rs 3.870 billion in the last year… Daily Times

News : The Karachi Stock Exchange (KSE) is waiting for the final SECP approval of the new products ‘Stock Index Futures’ KSE, which are likely to be launched in March 2008,said Adnan Afridi, Managing Director, KSE….In addition to KSE-30 Stock Index Futures, the KSE also plans to introduce Sector Indices and Options in 2008. In Pakistan, the managing director said, “the KSE 30 Index will act as the Index Futures contracts, which will be traded on KSE. The KSE-30 Index is a liquidity-screened and free-float adjusted market capitalization index of 30 stocks listed on the KSE.”… Daily Times

The Securities and Exchange Commission of Pakistan (SECP) has announced the implementation of CFS MK-II Funding System to be launched by the National Clearing Company of Pakistan Limited (NCCPL) from April 7, 2008. The SECP has also approved the criteria for eligible scrips for CFS Mk-II Deliverable Futures Market (DFM).The criteria is as follows… Aaj News

Upper Caps : Arif Habib Ltd / Nishat Mills / Pace 

Market Low : 14,888.06  High : 15,024.68 

Market Close : 14,980 – 8.69 points up.  

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Dividends, KSE & SECP News



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