12,283
May 21, 2007
A sluggish day at the Karachi Stock Exchange with low volumes of 87.6 million shares traded. Bank Al-Falah was the volume leader today with 10.1 million shares traded. The last time the closed below 12k was April 13th 2007.
News : Warid Telecom, Pakistan’s third largest mobile phone operator, is in talks with several foreign firms, including Singapore Telecommunications (Singtel), to sell a minority stake, industry sources said on Monday."Warid has been approached by several international telecom companies over the last six or eight months, including those from the Far East, the Middle East and Europe,.. But no final decision has been taken as yet," he said. "The picture will become clear by July or August." There was no word on how much the deal could be worth….Warid is owned by the private Abu Dhabi Group, which is one of the largest foreign investor groups in Pakistan and also owns Bank Alfalah Ltd…it was not clear whether the sponsors planned to sell some percentage of their existing shareholding, or issue fresh equity. Source: Reuters
Market Low :12,269.92 High : 12,340.42
Market Close : 12,283.23 – 57.18 points down
