13,684
July 26, 2007Due to the fucked up electricity situation in Karachi, a buggered laptop and a hopeless internet connection, posting will be sporadic for the next 2 weeks.
The Karachi stock market finally crossed 13,800 today , but could not sustain itself and closed up at 13,684. OGDC was the flavour of the day with 33 million shares traded. Further upside comes on breaking and holding 13,800. Keep the Vaseline handy as these are explosive times.
Dividends : Fauji fertilizer Bin Qasim Ltd. (FFBL) : 5% Cash
News : Pakistan’s Oil and Gas Development Co. Ltd. (OGDCL) is in talks for its first overseas joint ventures in China and is exploring forays into the Middle East, North Africa and Eastern Europe…OGDC will be the first Pakistani oil firm to venture abroad, coming late into an arena led by Chinese, Indian, Japanese and South Korean companies competing to secure scarce energy resources, sparked by trebled oil prices and geopolitical uncertainty in the Middle East….With a market capitalisation of about $9 billion on the Karachi Stock Exchange, OGDCL holds the largest share of the country’s recoverable hydrocarbon reserves: 32 percent of gas and 37 percent of oil. Pakistan produces about 69,000 barrels of oil and nearly four billion cubic feet of gas a day and spends more than $6.5 billion annually on petroleum imports to meet its growing energy demand.The country’s domestic gas production is forecast to decline after 2010 and it would have to import costly fuel beyond that… Aaj News
Market Low : 13,582.73 High : 13,814.01
Market Close : 13,684.27 – 89.07 points up
The KSE-100 index got fucked out of shape and was bashed down to 13,541 closing down at 13,659. Based on rumours of a State of Emergency being declared, the market went into a semi-freefall as the panic accelerated. 2moro could see a pullback if there are no explosions. 
After getting a good bashing yesterday , the KSE-100 index recovered to close up at 14,053. Arif Habib Securities was the flavour of the day with 26.5 million shares traded and wnet from lower cap to nearly close at its upper cap. FFBl made its highest close to date at 47.40. Upside resistance is at 14,120- 14,170.
The Karachi Stock market got a good bashing down to 13,869 and recovered to close down at 13,945. Stocks across all sectors got hammered with the banking sector getting the worst of it. BOP got further buggered down to 100.85 and MCB down by Rs13.45 to 334.55. The fertilizer sector held on with most stocks closing positive. If 13,800 breaks there could be more downside, upward resistance is 14,000-14,100. Keep the Vaseline jar handy !
The ‘’Friday Show'’ led the the KSE-100 index to an intra-day all time high of 14,290 and closed up on a new high of 14,202. After some time OGDC was the flavour of the day with 54 million shares traded and closed up at 124.35. BOP has been slowly buggered down to 105.5 in the last few days and if the current rumour of a Rs.1 billion fine by the SBP is true, then get the Vaseline out ! Upward resistance is 14,300 leading to 14,500 and downside support is at 14,100 -13,900
The KSE-100 index made a high of 13,981, a low of 13,781 and closed up at 13,967. The market seems to have corrected and somewhat consolidated. Arif Habib Securities was the flavour of the day with 30.5 million shares traded and closed at upper cap. The index should test 14k once again and attempt to close above it. 
The Karachi Stock market made an intra-day all time high of 14,124 and then nose-dived down to 13,889 and closed down at 13,917. It is possible that the raid at the Lal Masjid led to investors offloading and also being downgraded to Stable from Positive by S&P (see below ). While the index needed to let off steam again, its currently hard to say whether the KSE-100 index will go back upto 14k or see some more downside. As ‘’Mr. Long ‘’ said " this time when the market crashes, nobody will ask why !" Downside leads to 13,800-13,600, upside resistance is 13,960 - 14,080.
The KSE-100 index broke through 14k and made a new intra-day high of 14,079 and closed up at a record 14,020. Volumes were relatively low at 225 million shares traded today and Fauji Fertilzer Bin Qasim was the flavour of the day trading 32.4 million shares. The banking sector is underperforming the index barring FABL which has just woken up having been dormant throughout the year. While certain stocks are hitting their upper limits daily, enthusiasm in the blue chips appears to be waning. The Karachi Stock market is still ripe for a correction and there is likely to be one closer to the result season in order for the big boys to grab shares at lower prices.
Friday’s session saw the KSE-100 index register another new intra-day high at 14,027 and a new high close at 13,985. Despite the high close the index appeared to be struggling at 14k and had a choppy ride. It might correct again before going further upwards. The next upward resistance is 14,050 -14,100 heading for 14,500. Downside support is at 13,800.
The KSE-100 index broke 14k on an intra-day basis making a new high of 14,003. Unable to sustain itself at 14k it closed up at 13,942, needless to say, the highest close so far. Fauji Cement was the flavour of the day with 33.7 million shares traded. The Karachi Stock market looks ready to take on 14k and the next upward resistance is 14,000 - 14,100.
As expected the Karachi Stock market had to left off steam as it was overbought. After making an intra-day high of 13,995, it dipped down to 13,773 and closed down at 13,809. TRG Pakistan was the flavour of the day with 53 million shares traded. Its seems that recently quite a few of the shitty 3rd tier stocks having been rising considerably. The KSE-100 index closed around a support level of 13,805, 13,600 is the next downward fall and upside follows to 13,855 heading back to 14k.
The KSE-100 index made an intra-day record high of 13,949 and close up on its 4th consecutive record high at 13,929. OGDC and PPL rose from the dead to close up at Rs.122 and 267.6 respectively. Bank Alfalah got bashed down to its lower limit. While the market is poised to break 14k, it looks like a correction is due as it has risen 537 points since the last correction on June 22nd and RSI-14 levels are high.
