12,122
April 19, 2007
The Karachi Stock market made a high of 12,234 and closed down at 12,122. Askari Bank was the flavour of the day with 40.6 million shares traded followed by the Bank of Punjab with 31.7 million shares. The market closed below its support of 12,143 and further support on the downside is 12,050 followed by 11,900. Whether today’s downside is a pre-cursor to a good bashing in 2moro’s Friday show, remains to be seen. The market is overbought with RSI(14) levels at nearly 80 and maybe there will be another correction before testing 12,337.
Dividends : Fauji Fertlizer Bin Qasim (FFBL) : EPS : Rs0.4
Packages Ltd. (PKGS) : EPS : Rs.4.49
Board Meetings for April 2007 - updated
News : The government on Thursday granted an exploration licence to state-run Government Holdings Private Ltd. (GHPL) for an offshore block in the Arabian Sea, the Ministry of Petroleum and Natural Resources said.The government also signed petroleum production-sharing agreement with GHPL and the state-run Oil and Gas Development Co. Ltd. (OGDCL) for the Indus-R offshore block, covering an area of 1,402 sq km (541 sq miles)…OGDCL - Pakistan’s biggest listed firm will spend up to $1.13 million during the first two years on exploration in the licence area...Aaj News
The Privatisation Commission has set a pre-bid meeting with 15 pre-qualified parties for the sell-off of the National Investment Trust (NIT), Pakistan’s largest mutual fund worth Rs 80 billion..The government has decided to separate the units (possession of units) of National Bank of Pakistan (NBP), Faysal Bank, Bank of Punjab and Bank of Khyber, which already possess around Rs 40 billion of its assets through the government’s letters of comfort (LoC)…inside sources said the bidders are Arif Habib Securities, JS ABAMCO Limited, AKD Fund Management, KASB Securities, Atlas Bank, MCB Bank, United Bank Limited (UBL), Habib Bank Limited (HBL), Bank Al Habib, PICIC Commercial Bank and four LoC holders.
The participants would discuss the bid procedures and raise other questions regarding the privatisation of NIT with the Privatisation Commission Board on April 24th... Daily Times
The Karachi Stock Exchange (KSE) has recommended the Securities & Exchange Commission of Pakistan (SECP) to enhance the CFS limit from the existing Rs.55 billion to Rs.80 billion.
Upper Caps : Callmate Telips + Attock Refinery
Market Low : 12,105.54 High: 12,234.99
Market Close : 12,122.54 – 66.75 points down
