13,727 - yet another record close for the KSE-100 index
June 28, 2007
The KSE-100 index tore through 13,700 making an all time intra-day high of 13,767 and closed up on a record high of 13,727. The Karachi Stock market has increased by 36.6% since the first of January 2007. Nishat Mills was the flavour of the day with 34.3 million shares traded. The oil sector got fucked with POL closing down by Rs.8.5 at 325, PSO down by Rs.9.50 on negative privization news and OGDC going nowhere as usual. Bank Alfalah closed up at its highest this year at Rs.62.15 based on the Singtel-Warid news. The next upward resistance is 13,800 heading for 14k.
News : Singapore Telecommunications , Southeast Asia’s leading telecoms group, said on Thursday it had agreed to buy a 30 percent stake in Warid Telecom, Pakistan’s No.3 mobile operator, for $758 million… The deal gives Warid, which is owned by the private Abu Dhabi Group, an enterprise value of $2.9 billion, SingTel said in a statement late on Thursday…Reuters
The Supreme Court on Thursday issued notices to the seven short-listed bidders in PSO privatisation, during the hearing of a petition filed by Attock Group against its disqualification from bidding.A two-member bench comprising Justice Javed Iqbal and Justice Falak Sher fixed the next hearing for July 12th… Aaj News
Upper Caps : JOVC / Bank Alfalah / Adamjee Insurance / Azgard Nine
Market Low : 13,669.03 High : 13,767.64
Market Close : 13,737.95 — 58.92 points up
