KSE-100 index ends FY07 at 13,772
June 30, 2007
Yesterday was the last trading day of the fiscal year, and the KSE-100 index closed on an all-time high of 13,772 and broke 13,800 intra-day. Bank Alfalah was the flavour of the day with 42.3 million shares traded. POL got fucked again and closed down at Rs.317. The next upward resistance is 13,815 -13,870 . Within the result season starting towards the end of July , it’s likely that we will see a 14k plus index.
News : Pakistan will announce an increase in the wellhead price of its gas next month when it unveils a new Petroleum Policy…"We will realign wellhead prices with international oil prices. As a result of realignment the prices are going to go up. The prices will have to be reflected (for end users)," said Mukhtar Ahmed, energy advisor to Prime Minister…At present Pakistan caps gas sale prices for over 90 fields at $36 a barrel crude equivalent.. Aaj News
The Karachi Stock Exchange (KSE), one of the most emerging share markets in the region, witnessed bullish trend during the sixth consecutive year, as the benchmark KSE-100 index grew by 38 percent during FY07, on the back of great foreign investor’s interest, strong economic growth of the country and higher earnings expectations of corporate sector…Aaj News
The Central Depository Company (CDC) has planned to hold ‘road shows’ to London and New York in early July to globally showcase the investment opportunities in the Pakistani Capital Market. The first event would be held in London on July 6, for which the CDC in working in collaboration with the London Stock Exchange… Aaj News
Upper Caps : None worth mentioning
Market Low : 13,646.04 High : 13,805.55
Market Close : 13,772.46 — 44.51 points up
