14,660
December 19, 2007
After a week of fucking boring, range-bound lassitude, the KSE-100 index rose upto an intra-day high of 14,676 and closed up at 14,660, ( the 3rd highest close in the history of the market). Bhoscricor was once again the flavour of the day with 31.7 million shares traded. Volumes doubled from yesterdays 88.3 mil to a healthier 170.2 mil today. Upside resistance is 14,700-900.
News : The State Bank of Pakistan has granted a license to Barclays Bank Plc, UK, to start banking operations in Pakistan…. Barclays will be established in Pakistan as a foreign banking company and operate in a branch mode with a capital of 100 million dollars and will initially set up 10 branches in various cities of the country.The issuance of license to the Barclays will add to the presence of foreign banks. It will be the seventh foreign bank operating in Pakistan in a branch mode in addition to a number of foreign banks, having locally incorporated subsidiaries… Aaj News
Arif Habib Bank Limited (AHBL) will be provisionally listed at the Karachi Stock Exchange (KSE) from December 24, 2007. Having received the requisite regulatory approvals, Arif Habib Securities Limited (AHSL) is all set to offer for sale 119.7 million ordinary shares of Arif Habib Bank Limited (AHBL) on December 29 and 31, 2007. AHBL is a majority-owned subsidiary of AHSL. It started operations in August 2006 and became a profitable entity within one year. The bank now has a network of eleven fully real-time, linked branches, and the rollout plan calls for expanding the outreach to 100 branches by 2012… Aaj News
Upper Caps : Bhosricor / JS Bank Ltd / Callmate Telips
Market Low : 14,461.94 High : 14,676.56
Market Close : 14,660.37 – 152.08 points up
