10,157 - Short selling ban to lift in November futures
September 21, 2006
The last time the market closed at 10,157 on the news of the CFS cap being increased to Rs.55 million, the next day it closed below 10k and spiralled downwards (13th Sept.) Today was another day of upward movement with a much bigger turnover of shares traded (152.3 million ) than in the last few days. The KSE-100 index has to break 10,200 successfully for the market to breakout and move upwards out of its current 9,800 - 10,200 range.
News : Short selling will be allowed for the November future contracts provided the SECP’s new requirements made to the KATS.The SECP blame the KSE for the continuation of the ban on short sales as the KSE has shown its inability to bring about the required changes in the KATS to allow short selling under the new system based on a free float limit.
Dividends : Millat Tractors : 20% Bonus + 100% Cash . EPS Rs.46.78
UPPER CAP : BAFL / CCBL / PIOC
Market Low: 10,032.57 High: 10,158.86
Market Close : 10,157.95 — 125.38 points up
