13,220
September 24, 2007
The Karachi Stock market appeared to ignore the political situation, the opposition’s farce and the disgraceful behaviour of the lawyers, opening up and remained positive all day. The KSE-100 index closed up at its high of 13,220. Lucky Cement was the flavour of the day with 29.33 million shares traded, boosted by JP Morgan’s psoitive report and hitting its upper limit at one stage. Having closed well above its 50-DMA , the market looks to be headed for 13,350 -13,460.
News : The government has decided to list leading Pakistani companies in international markets through Global Depository Receipts (GDR) and has included them in the priority entities of its privatisation programme.The proposed entities for listing in international markets are National Bank of Pakistan (NBP), Habib Bank Limited (HBL), Kot Addu Power Company (KAPCO) and Pakistan Petroleum Limited (PPL)…The financial adviser for NBP GDRs, the consortium of Deutsche Bank, Morgan Stanley and AKD Securities made a presentation before the PC Board regarding the offering structure of the transaction… The News
A major fall of over Rs 15 in the share price of Habib Bank Limited (HBL) was seen on the first day of its trading at the Karachi Stock market and analysts anticipate further decline in the coming days…The local bourse states that it had approved the application for formal listing and quotation of HBL’s shares and trading in its shares would begin from September 24 (Monday) and all transactions taking place in respect of the HBL would be settled on T+2 settlement basis. The settlement date will be September 26th…Daily Times
Upper Caps : Arif Habib Securities / Arif Habib Ltd / JOVC / Attock Refinery / Packages / Callmate Telips
Market Low : 13,061.97 High : 13,220.29
Market Close : 13,220.29 — 155.12 points up
