13,787
January 23, 2008
The Karachi Stock market opened up with a gap making a high of 13,902 and then slowly fizzled out to end closing up at 13,787. Arif Habib Ltd hit another all time high closing at its upper limit of 378.55 . With 4 consecutive upper caps and its result on the 29th, it seems fairly obvious that a large bonus is on the cards. NIB Bank & Arif Habib Securities Ltd were the top scorers on the leader board trading 40 & 37 million shares respectively. With Asian markets recovering today and the Dow closing 2.5% up , it’s possible that the market will go up and stay up 2moro.
Board Meetings : FFBL & PPL will announce their results 2moro.
News : Leading international stock exchanges/strategic investors like Dubai, Korean, London and Norway bourses have shown keenness in acquiring stakes in Pakistan’s de-mutualised stock exchanges. The Securities and Exchange Commission of Pakistan (SECP) Chairman, Razi-ur-Rehman Khan, told reporters on Wednesday that President Pervez Musharraf would sign the Stock Exchanges (Corporatisation, Demutualisation and Integration) Ordinance, 2008 within the next 10-15 days…He said that the SECP has sent a draft of two new products to the exchanges. These are ‘Index Futures’ and ‘Options’…He said that the Continuous Funding System Mk II (CFS) would be implemented in the next 3-4 weeks….the process of Corporatisation and Demutualisation would be completed within the period of 119 days following promulgation of the Ordinance… Aaj News
Upper Caps : Arif Habib Ltd (4th consec. day ) / JOVC / JSCL / Netsol Tech
Market Low : 13,754.53 High : 13,902.94
Market Close : 13,787.07 – 27.56 points up
