12,708
August 16, 2007
Given the fact that world markets continue to tumble perhaps we should consider ourselves lucky that the KSE-100 index closed down by only 77 points. While the Dow Jones index staged a recovery towards its close today, the FTSE-100 got buggered senseless closing down by 4.10%, its biggest fall since March 2003 . While the downside could continue in world markets due to the current liquidity crunch, we could see some pullback in the Karachi Stock market or being a Friday 2moro, some major bloodshed. 12,600 is holding as a support level at the moment and the next upward resistance is 12,860. The worst is perhaps not over yet, keep applying the Vaseline and let the dust settle.
Dividends : Soneri Bank : 20% Bonus. EPS : 1.45
Askari Bank : EPS : 4.96
News : The Karachi Stock Exchange (KSE) Board of Directors rejected the SECP suggestions regarding risk management made contingent upon the increase in CFS Financing. According to KSE Board members, the changes affected by Securities and Exchange Commission of Pakistan (SECP) in the modus operandi in risk management are unacceptable… Geo News
Upper Caps:Sui South Gas / Saudi Pak Bank
Market Low : 12,607.21 High : 12,790.97
Market Close : 12,708.65 – 77.94 points down
