12,633 - Another all time high
May 24, 2007
The KSE-100 index ripped through 12,500 and made an all time intra-day high of 12,674 closing at its historical peak of 12,663. The banking sector was the flavour of the day with 106 million shares traded of a total of 270 million. BOP was the volume leader of the day with 28 million shares traded and closed at its upper limit . MCB shares were being sucked up like crazy and it closed at Rs.333.55 , an all time high. Allied Bank and Crescent Commercial Bank closed at their upper limits.
A Rs.10-15 rise in the price of cement gave the cement sector a boost as well.
The Karachi Stock market is now up 26% since Jan1st. 2007.The next upward limit is unknown as the KSE-100 index is wading in uncharted territory!
News : Federal Minister for Privatization and Investment Zahid Hamid has said that 47.7 percent shares of National Investment Trust (NIT) will be divided into three parts for the purpose of the privatization… Geo News
The Sindh High Court (SHC) on Wednesday adjourned proceedings till May 29 in a petition challenging disqualification of the plaintiffs/bidders from Pakistan State Oil (PSO) privatisation process… Business Recorder
The Pakistan Credit Rating Agency (PACRA) has assigned a long-term rating of A (Single A) and a short-term rating of A1 (A one) to Arif Habib Rupali Bank Ltd (AHRBL). These ratings denote a low expectation of credit risk emanating from a strong capacity for timely payment of finacial commitments… Source : Daily Times
Upper Caps : Bank of Punjab / Crescent Commercial Bank / Allied Bank / Pace Pakistan Ltd
Market Low : 12,496.17 High : 12,674.09
Market Close : 12,633.41 — 167.24 points up
