Tuesday, August 25, 2009

Market close !

Equities witnessed volatile trading as benchmark index hover the crucial 8,300 levels. News of USD5bn worth potential grant as "Marshal Plan" from USA, positives from FoDP ministerial meetings in Istanbul (approval of reconstruction of the war torn northern region of Malakand) and yesterday's S&P ratings upgrade pushed market up and held strong in early trading. Nishat Mills result kept interest alive as the textile player announced FY09 results with PKR2/sh cash payout and earnings in line with market expectations. Furthermore, yesterday's exceptional payout by PPL brought POL in limelight as players bet on higher dividend with results due in the coming days. Profit taking in late trading pulled the index below 8300 with OGDC facing the brunt of selling closing -2.1%.

.

No comments:

Post a Comment