15,043

15,043Another choppy day at the Karachi Stock Exchange with volumes shrinking down to 120 million shares traded. PSO closed at a new high of 538.55. Despite regional and world markets getting fucked out of shape after Bear Stearns was sold for $2 per share today, the market showed resilience and closed marginally down at 15,043. It’s possible that there will be some foreign selling this week, which could take the market below 14,900. With no good news on the near horizon, start brushing the cobwebs off the Vaseline jar !

News : The country’s cement sector has received a green signal from the South African authorities to export cement with a Pakistani tag,…Sources said that Lucky Cement is the only Pakistani company, which has received an export certificate from the South African Bureau of Standards…demand of Pakistani cement is increasing globally with the result it has already captured cement markets of India, Iraq, UAE and other countries. The country’s cement exports have witnessed a healthy growth of 140 percent to all time high level of 4.2611 million tons during the first eight months of current fiscal year 2008… Aaj News

The management of the Bank of Punjab (BOP)  has clarified that Board of Directors of the Bank has proposed a final stock dividend of 25 percent bonus shares in addition to 10 percent interim stock dividend earlier announced for the year ended December 31, 2007. There is no ambiguity in the said announcement of 25 percent final stock dividend and all shareholders at the date of book closure shall be eligible for receipt of bonus shares, a press release issued by the bank said on Sunday…It further says the bank continued its growth trends by earning an after tax profit of Rs 4.4 billion for the year ended December 31, 2007 which was 17 percent higher than previous year’s after tax profit of Rs 3.8 billion… Source : Aaj News

Upper Cap : Packages / Soneri Bank

Market Low : 14,999.13 High :15,139.02

Market Close : 15,043.81 – 43.66 points down 

source: karachistockmarket.blogsome.com

Filed under Banks, Cement, Daily Market News



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