12,035
News : The urea price on Thursday shot up by Rs 70 per 50 kg bag in the domestic market in the wake of recent gas tariffs rise by 31 percent… Sources said, "the leading urea companies including Fauji Fertiliser and Engro Pakistan have raised the urea commodity prices by Rs 35 to Rs 625 per 50 kg bag which earlier stood at Rs 590 per 50 kg bag…At present, local urea production stands at some four million tonnes annually against ... 12,126
News ... 12,221
Dividends : National Investment Trust (NIT) Limited has declared highest-ever dividend of Rs 6.50 per unit for its unit holders (both for LOC and non-LOC Funds) for the year ended on June 30, 2008. “The payment of record dividend would involve a huge total payout of Rs 10,490 million among its unit holders as against Rs 10,034 million paid to unit holders last year,” ... 12,289 - lowest volumes in many years !
News : The Securities and Exchange Commission of Pakistan (SECP), in the best interest of the capital market, has allowed associated companies of the fund managers to invest in mutual funds. This decision will bring mutual funds at par with the commercial banks…. Source : Aaj News The government has increased gas prices by 31 percent and that of Compressed Natural Gas (CNG) by Rs 13 per kg. The new rates will be effective from July 1. The Oil and Gas Regulatory ... 12,353
Market Low : 12,342.78 High : 12,452.08 Market Close : 12,353.19 – 98.90 points down 12,452
News : The government has asked the Oil Marketing Companies (OMCs) to submit proposals for setting up new mechanism for profit margin in the proposed oil pricing formula… While on the other hand, ... 12,430
News : The government is arranging two tranches of Rs35 billion each for the payment of price differential claims (PDC) to oil marketing companies (OMCs) and refineries,…The ministry of finance has conveyed to the ministry of petroleum that it will very soon release two tranches of Rs35 billion each to the oil marketing companies and refineries under the head of price differential claims,…The PDC is a subsidy on POL products not passed on to consumers in fortnightly price revisions, ... 12,122 - Short selling banned for one month
11,162
At least some progress has been made on the political front, as the LHC has declared the stupidest fucking politician in the history of Pakistan as ineligible for running for a seat in Parliament in the upcoming by-elections.
The excerpt from the following article will ... Visit Karachi Stock Market News Money Talk Financial Feeds > Investing > Stocks and Bonds Report created 09/29/2006 |
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More low volume trading saw the KSE-100 index post its 5th consecutive negative close today. Only 9 million shares were traded. The ruppee hit a new low today and nearly crossed Rs.70 to the dollar. Its seems likely that there will be another negative close 2moro being the end of the week and no positive news on the horizon for the moment.
Another day of piteous low volumes with the KSE-100 index trading only 11.9 million shares. The market has closed down for the fourth consecutive session and has lost 326 points since Thursday. The only solace here is that prior to the new measures with a 1% downside , the current four session loss would have been incurred in one. The erosion has been slowed down and bearing in mind that as the other world and regional markets are getting fucked badly at the moment, the oil price rearing its ugly head at $144 today and the dollar sliding daily, 1% down a day is not so bad ! If this carries on 12k will break by the end of the week. A Govt. that cannot calculate properly (CNG price issue), let alone decide on anything, doesn’t help matters either !
The Karachi Stock market displayed more of the same today with most stocks hitting their lower caps. There was some activity in OGDC which closed up marginally and PSO which closed at 428.79, up Rs.11.55. Volumes increased compared to yesterday with 40.8 million shares traded. Whether the rest of the market opens up from its lower limits 2moro remains to be seen, but there should be some recovery soon.
The KSE-100 index traded only 7.3 million shares today, the lowest volume of shares traded for many years. It closed down at 12,289. While oil keeps shooting up and regional markets are getting buggered as well, the horizon appears gloomy for the moment.
On Friday the KSE-100 index traded its lowest volume in some time with only 20.9 million shares traded. Weekend selling pressure took the market down to close at 12,353 and most stocks closed at their lower limits. Despite the support from the SECP’s new measures to stabilize the mkt. this week, the outlook still remains bleak at the moment. It looks like there could be another round of lower caps on Monday.
The KSE-100 index made a high of 12,609 and closed at 12,452. As expected yesterday, there were quite a few lower caps and the market cooled off today with some profit taking. There could be some weekend selling 2moro as well. Oil shot up over $140 based on a weak dollar and irresponsible remarks from OPEC’s president Chakib Khelil, who said that prices could rise to $150-170 during the summer (see the article below). The market’s next upward resistance is 12,550 and a close above that would head towards 12,900. Given its current 1% downside, it could get there soon. 
The Karachi Stock market continued its rise making a high of 12,499 and closed up at 12,430. The market has jumped up 1268 points in the last two sessions and there could be some lower caps creeping in, in a day or two. Volumes have increased with 192.7 million shares traded today. 
The new measures imposed by the SECP this morning saw the KSE-100 index soar to an all time daily gain of 960.50 points, the highest ever one day gain in the history of the Karachi Stock Exchange. The new rules will provide temporary relief from the " bleeding rectum syndrome " for most investors for the next month and help those who were stuck, to have a choice to exit the market comfortably or continue. There are already articles in print with people moaning that these are articficial measures etc. etc, but the decision was wisely taken at a time when the market could have snowballed downwards even further with margin calls and liquidity problems. While the political instabilty and indecisive governance continues, along with the threat of a further ...
The KSE-100 index got reamed again today and fell another 493 points down to 11,192. The last time the market closed at these levels was March 19th 2007. Fortunately some measures have finally been taken to support the market as of 2moro. While it may be a liitle too late for some, these measures should stabilize the market in a few days and there should be a big pullback 2moro. For all you shorters (people who go short )out there, the joyride is over, at least for the moment ! See the article below. 
The Karachi Stock market finished the week on Friday closing at 11,655, its lowest close since April 6th 2007. The market got rammed downwards by nearly 10%, losing 1286 points in a week. In the future it could be referred to as the " June 2008 crisis " and it has certainly cut off most people’s balls this week (and hopefully will not jam them down their throats in the coming week with a further slide !). While a lack of support left one scratching their heads on Friday, if there is no pullback 2moro, we could see a further plunge to 11,100 -10,800 (hopefully not). One must bear in mind that the rest of the world’s markets are getting fucked as well, so there could be more foreign selling. Keep applying the Vaseline !Last feed added on 07/01/2008.
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