12,343 - Post bloodbath
May 14, 2007
After a weekend of carnage and bloodshed leaving 41 dead and costing the city several billion ruppees, due to the intention of a possibly bent and thoughtless judge arriving in Karachi, the Karachi Stock market opened 279 points down. The market then made a good recovery and closed down 24 points at 12,343. A few years ago, a mere fart would have shaken the sentiments of the KSE-100 index, now there is so much more money chasing fewer stocks, at higher prices, and not much seems to rattle this market for very long.
News : The new market surveillance system will start functioning within eight to 10 weeks for monitoring of stock markets, Securities & Exchange Commission of Pakistan (SECP) officials here said…. the News
Due to financing restricted by legal sources, in-house badla has started once again in the Karachi stock market.A senior KSE broker told Geo News that presently CFS financing in Karachi Stock Exchange has reached Rs.53610 million. Due to non-availability of additional CFS, in-house badla has started again and its value reached Rs.10,000 million... Geo News
President General Pervez Musharraf on Sunday categorically stated that emergency would not be imposed in the country as there was absolutely no environment for taking such a drastic decision… Business Recorder
Upper Cap : Shell Pakistan Ltd.
Market Low : 12,088.25 High : 12,377.25
Market Close : 12,343.68 — 23.4 points down
