Two concession agreements were signed between the government of Pakistan, AMOCO Pakistan Exploration Company (AMOCO) (a subsidiary of AMOCO production company of the USA) ND Oil and Gas Development Corporation (ODGC
) for petroleum exploration over Sibi (districts Katohi, Sibi and Kalat) and Kohat (Khurram Agency, North Waziristan, South Waziristan districts, Bannu, Kohat and D.I.
He said that the ODGC
, National Refinery and Engro were the most traded shares in the markets because the investors were expecting positive earning in the future."Besides, the low-priced shares remained favorable stocks for the jobbers resulting an increase in the volume of shares", he added.
In terms of sectorspecific news, E and Ps dominated with the news on (1) PSO recommending securitization of OGDC's dividends to settle inter-corporate debt (ODGC
rejected the proposal) and (2) problems at Qadirpur field (likely to be solved by end of current week).