7,832 - Clocks going forward
April 14, 2009There is no graph today due to a glitch in KSE’s third-rate website.
The Karachi Stock market rose to a high of 8,009 and then corrected down to close at 7,832. It’s possible the market could correct further before going up having gained 576 points in the last two sessions. Upward resistance is 8,100 with downside towards 7,500. Clocks will be going forward by one hour at midnight tonight.
News : Karachi Stock Exchange (KSE) has decided to end trading of odd-lot shares in the market.The decision was taken in the meeting of board of directors of KSE here on Tuesday. According to a director of KSE, the blocking of odd-lot shares would come into effect within one month. Odd-lot shares often incur losses to seller as minimum buying for any scrip ranges between 50-500 shares in the stock market….Daily Times
Pakistan will announce the monetary policy for the last quarter of the 2008/09 (July-June) fiscal year on April 20th, Syed Wasimuddin, chief spokesman for the State Bank of Pakistan, said on Tuesday. Analysts are expecting a cut in interest rates as inflation has eased from a record high of 25.3 percent in August last year to 19.07 percent in March. Pakistan’s key discount rate was kept unchanged at 15 percent when monetary policy was announced in January after it was raised by 500 basis points in 2008… Aaj News
Pakistani financial services company Jahangir Siddiqui and Co Ltd. said on Tuesday it is interested in buying the operations of Royal Bank of Scotland (RBS) in Pakistan. JSCL is the third Pakistani company to express an interest in buying RBS’s Pakistani operations after Habib Bank Ltd and MCB Bank did so on Monday. RBS Pakistan has a market cap of around $266 million. "JSCL has been invited to conduct due diligence of RBS Pakistan," JSCL said in a statement to the Karachi Stock Exchange. "JSCL will apply to the State Bank of Pakistan through the financial advisers of RBS, to obtain the requisite permission to commence due diligence of RBS Pakistan."… Aaj News
Market Low : 7,775.50 High : 8,009.25
Market Close : 7,832.85 – 39.64 points down
