12,258 - are the cracks setting in ?
May 16, 2007Posting might be sporadic in the next few days.
The market has weathered enough storms of late from Karachi violence to a Peshawar bomb. Having made a high of 12,451 , the KSE-100 index nose-dived down 337 points to a low of 12,114 from where it steadily recovered. Its the first close below 12,300 since May 7th.The rumour that the number for stocks available in CFS will be reduced to 27 scrips with effect from May 21st, didn’t help. It seems that 12,050 will get tested again. Keep the Vaseline handy !
News : The Sindh High Court (SHC) on Wednesday adjourned the hearing till Friday, in a Rs 24 billion law suit preferred by the Attock Group of Companies, challenging their alleged exclusion from privatisation process of leading oil marketing firm in the country, Pakistan State Oil (PSO)… Business Recorder
Renowned banker Shaukat Tarin has been elected as chairman of the Karachi Stock Exchange (KSE) for the remaining period of 2007 in a board of directors meeting held here on Wednesday…Source : Business Recorder
Market Low : 12,114.77 High : 12,451.29
Market Close : 12,258.85 – 112.14 points down
Hello Suttabhai. I like very much your blog. As I am blogging also about emerging markets (www.stockweb.blogspot.com). Your blog is really beneficial for me as I don’t know a lot about Karachi stock market. Don’t you mind if I include your URL to my blogroll? You can do the same if you want.
I wish you successful trading!
Vlada
Comment by Vlada — May 17, 2007 @ 8:09 pm
Thanks for your comment. Please feel free to add http://karachistockmarket.blogsome.com to your blogroll. Regards Suttabhai.
Comment by karachistockmarket — May 18, 2007 @ 12:03 am