12,393
May 9, 2007
It seems clear that the ‘’State of Emergency ‘’ rumour was well manipulated to bring the Karachi Stock market down. It has risen back to 12,435 (intra-day) within 2 days after a well-needed bashing. The market is likely to be volatile till the CFS issue is sorted out . A break above 12,500 will see a more clear direction. DGKC was the volume leader today with 30.4 million shares traded.
SCRA inflow for May is $48 million taking the total for the fiscal year to $769.9 million.
News : The Karachi Stock Exchange (KSE) has proposed that client-wise position limits in CFS Market should be 5 percent of free-float in a scrip, and 5 percent in Deliverables Futures Market and Cash-settled Futures Market on a combined basis.The member-wise limits shall be 10 percent in CFS Market and 10 percent collectively in Deliverables Futures Market and Cash-settled Futures Market. KSE senior members and member directors gave this proposal on Tuesday at a meeting with SECP here… Aaj News
A local oil and gas company, M/s OPI Inc has charge-sheeted Oil and Gas Development Company (OGDC) for causing financial loss to the joint venture partners (JVPs) by delaying development of Sinjhoro block and offered to take over its operatorship for bringing the ordeal to an end… Business Recorder
Upper Cap : Pace Pakistan Ltd.
Market Low : 12,319.36 High : 12,435.39
Market Close : 12,393.56 – 61.64 points up
