10,588
December 13, 2006
There is no juice in the Karachi Stock market at the moment ! It failed to break 10,700 today , yet held up above its support level of 10,550. The KSE -index made a high of 10,674 and closed down at 10,588. Extremely low volumes of 64.44 million shares were traded today resulting in a lacklustre market. OGDC has gone to fucking sleep with less than a million shares traded.
News : BMA Funds, (the marketing name of BMA Asset Management Co. Ltd.), has announced the launching of the first capital guaranteed mutual fund in Pakistan’s history, the BMA Principal Guaranteed Fund (BPGF).BPGF is structured to return at least 100 percent of investors’ initial investment, if the investment is held till maturity, a duration of two years…. Daily Times
On the IMF chart, Pakistan’s banking profitability is at third position after Colombia and Venezuela. On the IMF chart India is on 36th position and China is on 40th position. Foreign banks’ interest in Pakistani banks is also on the rise, partly in response to the government’s plans to divest most of its shares in several domestic banks…. Daily Times
The Karachi Stock Exchange on Tuesday announced the de-listing of Union Bank, with effect from December 29, 2006, in pursuant to amalgamation of the bank with and into Standard Chartered Bank (Pakistan)…. Business Recorder
Lower Cap : Soneri Bank
Market Low : 10,566.3 High : 10,674.33
Market Close : 10,588.56 — 55.80 points down
