11,413
March 9, 2007
The Karachi Stock market zoomed up further today making a high of 11,447 and closing up at 11,413. Volumes have increased (290.2 million shares traded today) and the index has recovered 513 points since Monday’s bashing. Bank Alfalah was the volume leader for the 2nd dat running with 41.8 million shares traded, closing at its upper limit on the strength of a rumour that Vodafone is buying a stake in Warid Telecom. Bank Alfalah owns 26% of Warid Telecom.
11,500 is the next number to break for upside to continue.
Dividends : Adamjee Insurance (AICL) : 18% Cash EPS : Rs.15.42
News : Philip Morris International (PMI) on Friday completed the acquisition of a 50.21 percent stake in Pakistan’s Lakson Tobacco Co. Ltd. for about $340 million, the US tobacco giant said in a statement. PMI, which now holds around 97.62 percent shares in Lakson, agreed in January to acquire the stake in the country’s second largest tobacco firm at 666.89 rupees a share… Aaj News
Upper Caps : Bank Alfalah / Soneri Bank
Market Low : 11,264.97 High : 11,447.55
Market Close : 11,413.12 – 129.25 points up
