13,326 - KSE-100 index closes above 13,300
June 12, 2007
After several recent attempts to hold above 13,300, the Karachi stock market finally closed at 13,326 making a record high close with an intra-day record high of 13,390. Cements were the flavour of the day with the sector trading an astonishing 138.2 million shares out of a total of 254.8 million.Banks were firmer than yesterday and the fucking E&P sector still lags behind the whole market. Upside looks to 13,400 for its next resistance.
News : Bank Al-Falah has decided to sell a 20% stake in Warid Telecom and is in the process of negotiation with interested parties. They include South Africa’s WTN, Singtel and Vodafone.The date of bidding has been quoted as June 28th.
Pakistan plans to sell as much as 30 percent of United Bank Ltd., the nation’s third-largest lender by assets, as part of the government’s asset-sale plan this month…The government plans to begin promotional tours for the United Bank global depositary receipts sale tomorrow and set the price on June 23rd.. Source : Bloomberg
The State Bank of Pakistan has allowed Askari Commercial Bank to change its name.As per a SBP notification, Askari Commercial Bank has been renamed as Askari Bank Limited… Source : Geo News
Upper caps : Arif Habib Securities Ltd / Pace Pakistan / Maple Leaf Cement / Callmate Telips
Market Low : 13,268.28 High : 13,390.63
Market Close : 13,326.17 — 57.89 points up
with KSE at all time high i still believe hidden untapped values present in individual stocks one such is
ECOPACK : with lot of upsides fot the market leader in PET bottle Manufacturers
-recent capital investment to enhance capacity for meeting long term contracts with Pepsi, Coca-Cola , and pharmaceuticals
- Hot sizzling summer has increased the demand for PET bottle twice from previous year
- Reduction in operational costs with the installation of new machines
- Decrease in import duty of PET material in the recent budget will improve the bottom line significantly
- with stock trading below its historical book value there is Significant upsurge of 75% to 100% from its current levels
Comment by Lilia Rios — June 13, 2007 @ 11:45 am
Thank you for the first intelligent and resourceful comment on this blog to date. Regards Suttabhai
Comment by karachistockmarket — June 13, 2007 @ 2:06 pm