7,684
July 13, 2009
The Karachi Stock market shot up today making a high of 7,716. The market was buoyant ahead of the KSE meeting 2moro, expecting an early release of the new leverage product and a list of 10 deliverable future scrips that might come into play by the end of the month. The ten scrips are : ENGRO / FFC / HUBCO / MCB / NBP / OGDC / POL / PPL / PSO / UBL.
News : The board of directors of Karachi Stock Exchange (KSE) in its meeting scheduled for Tuesday, July 14 is likely to approve re-launching of deliverable futures in 10 scrips,…"It is expected that the deliverable futures product could be re-launched by the end of this month," sources said. However, it is subject to the approval of SECP… Aaj News
The State Bank of Pakistan will announce the monetary policy on July 25th, 2009 and analysts say that there will be a further cut in interest rate as the inflation is constantly on the decline. "The central bank would issue the Monetary Policy Statement (MPS) for the July-September quarter on 25th of this month," said Syed Wasimuddin, chief spokesman of the SBP…Analysts expect a further cut in the interest rate as positive impacts of tight monetary policy have already been witnessed on the economy with the CPI inflation declining to 13.1 percent in June….At present, the CPI inflation has further reduced by some 6 percent during the last quarter (April-June) to 13.13 percent by June-end from 19.1 percent in March this year.Therefore, economists and analysts are confident that the SBP would announce a massive cut in the interest rate in upcoming monetary policy. "The SBP would continue its previous stance and we are expecting 100-150 basis points cut in interest rate," said Muzamil Aslam an economist at JS Global… Aaj News
Market Low : 7,502.66 High : 7,716.41
Market Close : 7,684.65 — 181.99 points up
