13,556
June 20, 2007
A somewhat choppy day at the Karachi Stock Exchange with a high of 13,597 and a low of 13,456. Banks were the flavour of the day with Askari, NBP and BOP trading 20,19,and 18 million shares respectively. OGDC closed below its 30,50 and 200 DMA, compounding its thoroughly pathetic performance in the last few months along with POL. The market needs to close above 13,600 for further upside, downside support is at 13,440 followed by 13,300.
News : A pre-bid meeting to respond to queries of potential bidders relating to the privatisation of Pakistan State Oil (PSO) and to create better understanding regarding the bidding process was held here today under the Chairmanship of Zahid Hamid, Federal Minister for Privatisation and Investment today….It was agreed that PC would announce a final date shortly, keeping in view the request of the intending bidders…The Privatisation Commission ("PC"), on behalf of the GoP, intends to sell a 51 percent equity stake in PSO together with management control to a qualified strategic investor. JP Morgan is assisting the GoP as the Financial Advisor for the privatisation of PSO… Aaj News
Upper Caps : JOVC + SCBPL
Market Low : 13,456.04 High : 13,597.66
Market Close : 13,556.73 — 61.90 points up
