7,872
April 13, 2009
The KSE-100 index opened up with an erection of over 200 points and stayed steady all day , closing up by 254 points ( 3.3% ) . The market has gained by 7.7% since Friday morning and the 8,000 index level could well be crossed in the near future, leading to 8,400.
Board Meetings for April 2009 – updated .
News : Habib Bank Ltd. (HBL) and MCB Bank are interested in buying the operations of Royal Bank of Scotland (RBS) in the South Asian nation,…Habib Bank, which is majority owned by the Aga Khan Fund for Economic Development, and MCB, which is 20 percent owned by Malaysia’s Maybank, said in statements to the Karachi Stock Exchange that they had expressed an interest to acquire the shareholding of RBS in Pakistan. The banks, two of the biggest in Pakistan, are seeking approval of the SBP to commence due-diligence.
RBS said in February it intended to explore new ownership of its operations in Pakistan due to its capital constraints and the need for the bank to reduce the size of its balance sheet. "The market capitalisation of RBS Pakistan today is $266 million, so that is the minimum price it would get," said Asif Qureshi, head of research at Invisor Securities Ltd…Aaj News
Market Low : 7,617.96 High : 7,908.56
Market Close : 7,872.49 – 254.53 points
