11,271
March 30, 2007
The KSE-100 index stayed positive throughout the day with a total volume of 103.2 million shares traded. OGDC was the volume leader of the day and closed at Rs.118.80, its highest close for some weeks. Six month high oil prices saw Shell go up by Rs.15 to close at 390 and PSO up Rs.8.55 at 355.05. The market closed above its 30 and 50 DMA’s at 11,271. 11,300 is the next upward resistance followed by 11,450. On the downside it held its support level of 11,150 yesterday .
SCRA inflow for March is $116.1 million taking the current fiscal year total to $673.36 million
News : Pakistan on Friday appointed a consortium of Merrill Lynch and local KASB Group to manage the global share sale of United Bank Ltd., the country’s third largest bank, Privatisation Minister Zahid Hamid said…sources familiar with the matter said the government plans to sell a stake worth $200 million to $300 million through a global depository receipt (GDR) sale.The government is only selling part of its roughly 45 percent stake in UBL, and the deal is expected to be completed by the end of June…. Aaj News
The Sindh High Court (SHC) ordered the government on Friday to let the local Attock Group of Companies take part in bidding for a management stake in the country’s top oil marketing firm, Pakistan State Oil, a lawyer said.The Privatisation Commission (PC) of Pakistan is likely to hold bidding for a 51 percent stake in PSO on May 5.Khalid Anwar, a lawyer for the Attock Group, said the group appealed to the SHC after the PC failed to invite it to undertake due diligence, without giving a reason and even though it had been short-listed…. Aaj News
The federal government has shelved the long-awaited Initial Public Offering (IPO) plan of Pakistan Steel Mills (PSM) until its unbundling and completion of essential repairs… Business Recorder
Market Low : 11,220 High : 11,279.62
Market Close : 11,271.59 — 50.08 points up.
