7,783
July 24, 2009
The KSE-100 index made a high of 7,897.15 and then took a downturn on the news of the SBP’s Monetary Policy announcement scheduled for 2moro would be delayed until August 15th. From Monday 27th July the following 18 stocks will be available to trade as deliverable future contracts : Oil and Gas Development Company, MCB Bank, Fauji Fertilizer Company, Pakistan Petroleum, Hub Power Company, Pakistan State Oil, Pakistan Oilfields, National Bank, United Bank, Engro Chemical, DG Khan Cement Company, Pakistan Telecommunication Company, Bank Alfalah, Fauji Fertilizer Bin Qasim, Lucky Cement, Nishat Mills, Adamjee Insurance and Azgard Nine.
News : The State Bank of Pakistan (SBP) has delayed the announcement of its monetary policy for the July-September quarter to August 15th from July 25th,..Markets responded negatively to the delay. The Karachi Stock Exchange’s (KSE) benchmark 100-share index was down 0.95 percent by 0631 GMT, after trading slightly in positive territory before the news was released. But analysts said the decision was not necessarily a bad thing for markets in the long run. "The immediate reaction in the stock market will be negative. But delaying the announcement will give the SBP time to look at the July data as well, and further evidence of declining inflation may result in a bigger rate cut," said Asif Qureshi, director of Invisor Securities in Karachi…. Aaj News
Market Low : 7,731.47 High : 7,897.15
Market Close : 7,783.39 — 80.47 points down
