10,646 - more whining about the March 2005 report
November 22, 2006
A more stable day at the Karachi Stock Exchange with relatively low index movement, a low at 10,569, a high at 10,659 and a close at 10,646. The market has to break and hold above 10,700 to re-test 10,900.There seems to be more whining about the "March 2005 Crisis report ‘’ from the National Asssembly standing committee on finance Panel, who seem to want their pound of flesh. Perhaps one or more of its members got fucked in the market at the time ??
News :The report has focused on the investigation of 13 top stock market brokers which the SECP Chairman Razi-ur Rehman clearly pointed out were not the culprits and not proven guilty of, but only under consideration of misappropriation. The names are as follows :Arif Habib Limited, Aqeel Karim Dhedhy Securities (Pvt) Ltd, BMA Capital Management, KASB Investment Bank, Forex Investment Bank, Taurus Securities Limited, Abdul Jabbar Khanani, Escorts Investment Bank Ltd, Akberally Cassims & Sons, Jehangir Siddiqui Cap Markets, Elixir Securities Pak (Pvt) Ltd, Motiwala Securities (Pvt) Ltd, and Atlas Capital Markets (Pvt) Ltd….. Business Recorder
The Advisor to Prime Minister on Finance, Dr Salman Shah, said here on Tuesday that to further probe the stock market crash on the basis of report submitted by the forensic investigators, the Securities and Exchange Commission of Pakistan will issue notices to 88 leading brokers, having net sales exceeding the Rs. 50 million threshold for a particular scrip in ‘March 2005 futures contracts’…. Business Recorder
Upper Cap : Callmate Telips (4th Consecutive day ) + Crescent Commercial Bank
Market Low : 10,569.12 High : 10,657.33
Market Close : 10,646.24 — 23.69 points up
