10,032 - market holds above 10k
December 27, 2006
The Karachi Stock market continued its upward movement making a high of 10,155 and then fizzled out, unable to sustain its gains, closing at 10,030. Last week it recovered to 10,182, only to get bashed again.The market needs to consolidate above 10k to make further headway to 10,200-300 and don’t expect much as there are only 2 trading sessions left for the week with a 4 day break thereafter till Jan 3rd.
OGDC looks weak, unable to sustain any upside above 115 and could well take the market down in the next 2 days. Sadly the market’s lemming mentality to rise and fall based on the performance of this stock, still persists !! Keep the Vaseline jar at close reach.
News : In its third round, Sui Northern Gas Pipelines Limited (SNGPL) has disconnected gas supply to dozens of export-oriented industrial units, giving a clear message that load shedding was for all industrial sectors, as it believes in indiscrimination…. Business Recorder
The Karachi Stock Exchange (KSE) has informed the members that the trading and settlement schedule of T+3 for remaining days of December 2006 has been revised to bring the same in line with T+3 system…. Business Recorder
The 124.5 per cent increase in cap of CFS from Rs24.5 billion to Rs55 billion in one go has not proved to be an intelligent and investment-friendly decision, retail investors, punters and analysts said talking to The News
JCR-VIS Credit Rating Company Limited (JCR-VIS) has upgraded the Management Quality rating of AKD Investment Management Limited (AKDIML) to ‘AM3+’ (AM-Three Plus). The management of the company has focused towards building strong support functions for fund management and administration…. Business Recorder
Upper Cap : Soneri Bank
Market Low : 9,996.11 High : 10,155.49
Market Close : 10,032.17 — 6.83 points up
How can I invest in the Karachi from Nigeria or the US?
Cheers and God bless.
Comment by Orikinla Osinachi — December 27, 2006 @ 7:26 pm
Hello . In order to invest in the Karachi Stock market from the U.S. you need to find a broker which is represented in Pakistan, e.g. Merill Lynch.
Comment by karachistockmarket — December 29, 2006 @ 7:30 pm