14,053
July 18, 2007
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.
Board Meetings for July - updated
News : The Karachi Stock Exchange,Pakistan’s largest, may sell a 10 percent stake to an overseas partner before its initial share sale to help spur trading on a market that has risen 14-fold in six years."I have received interest from a number of regional, even European exchanges, including the Dubai International Financial Exchange,'’ Razi-ur-Rahman Khan, chairman of the Islamabad-based Securities & Exchange Commission of Pakistan, said in an interview in Karachi on July 16….Sale arranger Deutsche Bank AG will complete its valuation by August and an initial public offering of shares could take place early next year, said Khan, 57, who was appointed chairman in January 2006. Memberships are valued at about 100 million rupees ($1.66 million), valuing the exchange at about $340 million… Source : Bloomberg
Fauji Fertilizer Bin Qasim Ltd (FFBL) will invest Rs 300 million in Fauji Cement Company Ltd (FCCL)… Daily Times
Upper Cap: AHL
Lower Cap : JOVC
Market Low : 13,887.41 High : 14,055.08
market Close : 14,053.02 — 107.98 points
