About the Karachi Stock Market Blog Daily updates on the Karachi Stock Market, with news, company dividends and KSE-100 index movements.The rollercoaster of a day trader's dream /nightmare riding the KSE-100 index. More than 850 posts and counting ...
Board Meetings : UBL & ENGRO will announce their results 2moro.
News : After a ban of over three months, the deliverable futures market re-started functioning at the share market from Monday. On its first trading day, futures volume was only 984,500 shares-one percent of cash market volume of 121.618 million shares. Analysts believed that it would improve, going forward, when market participants would observe the new changes….Compared to the old futures contracts that were introduced in 2003, there are few differences in the recently introduced deliverable futures. The margin is 100 percent cash/bank guarantee versus 50 percent cash previously. Moreover, mark to market profit will be retained by the exchange that was distributed previously. And this time instead of special margin, concentration margin will be applied. All these indicate that trading in futures will not be as easy as it was previously because it will require a lot of cash margin… Aaj News
News : The International Monetary Fund (IMF), which is to quiz Pakistan’s economic managers, led by Advisor to Prime Minister on Finance, Shaukat Tarin, on July 3, 2009, in Istanbul, has sought detailed information on the amount used by the public fund (NIT)-SEF for interventions in the stock market, their impact, stocks holdings by foreigners of shares listed on the Karachi Stock Exchange (KSE), and status of reforms of broker financing (badla)… Aaj News
The Securities and Exchange Commission of Pakistan (SECP) has suspended the registration of five members of Karachi Stock Exchange (KSE) till the claims against them in the light of the investors’ complaints are ascertained and settled in accordance with law…Following the SECP decision, the Karachi Stock Exchange has also suspended the trading rights of the these five members with immediate effect and until further notice to protect the interests of the investors….The names of the KSE members whose trading rights and registration have been suspended are: Eastern Capital Limited; Prudential Securities Limited; ClikTrade Limited; MKA Securities (Private) Limited; and Capital One Equities Limited…Aaj News
The KSE-100 index continued upwards today making a high of 7,274 and closed up at 7,198. The index has held its 7k support level for the moment and volumes need to increase for further upside. Oil made its high for 2009 so far, hitting $56 plus.
Board Meetings : Pakistan Reinsurance co. Ltd will announce its results 2moro.
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.
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
The Karachi Stock market got another bashing today and closed down at 12,261. There was heavy selling in banks and cements and across the board in general. The market could go down to 11,800 if support at 12k doesn’t hold.
Faysal Bank (FABL) : 25th D.G.Khan Cement (DGKC) MCB BANK (MCB) : 2.30 pm
United Bank Ltd (UBL) : 26th Allied Bank (ABL)
Bank Alfalah Ltd (BAFL) : 27th
Oil and Gas Development Co. Ltd (OGDC) : 28th Askari Bank (AKBL) Fauji Fertilizer Co. (FFC)
Pakistan Telecommunication Co. Ltd (PTCL) : 29th National Bank of Pakistan (NBP) ICI Pakistan (ICI) Pakistan Reinsurance Bank of Punjab (BOP) Hub Power Co. (HUBCO)
The KSE-100 Index opened up, made an intra-day high of 14,052 and closed up at 14,018. NETSOL was the flavour of the day with 10.8 million shares traded. Yet another day of low volumes and the inability to close above 14,050.
PSO was due to announce its results today, but the board meeting has been postponed to the 14th.
News : World oil prices declined on Wednesday after the US government reported another rise in crude oil inventories amid mounting concern about America’s economic growth…Prices slumped after the US Department of Energy said American crude oil inventories had jumped by 7.0 million barrels in the week ending February 1, marking a fourth straight rise in crude stocks.The increase was much higher than analysts’ consensus forecast which had predicted a gain of just 2.2 million barrels... Aaj News
Pakistan, which issued rules for real estate investment trusts today, aims to attract as much as 20 billion rupees ($320 million) in 12 months by drawing investors to a property market where prices have tripled in three years…The government said in the budget last June that owners will get a tax holiday till 2010 on the sale of property to a real estate investment trust. The REITS will be regulated by the Securities & Exchange Commission of Pakistan….Real estate trusts pool funds to buy properties and distribute rental income among investors. Pakistan’s REITs will be required to distribute 90 percent of profits… Source : Bloomberg
Federal Finance Minister Dr Salman Shah has said that global depository receipts (GDRs) of National Bank, Habib Bank and Kapco and ‘plus’ Euro Bonds will be issued in March-April this year to reduce the fiscal deficit… Aaj News
The Karachi Stock market opened up and made an intra-day high of 14,088. Unable to sustain its gains it closed down at 13,989. The total volume traded today was relatively lower at 107.8 million. A close above 14,080 would lead towards 14,300. Downside support is 13,800.
Board Meetings : Fauji Fertilizer will announce its results 2moro.
The Karachi Stock market got another bashing today and closed down at 12,261. There was heavy selling in banks and cements and across the board in general. The market could go down to 11,800 if support at 12k doesn’t hold.
The KSE-100 Index opened up, made an intra-day high of 14,052 and closed up at 14,018. NETSOL was the flavour of the day with 10.8 million shares traded. Yet another day of low volumes and the inability to close above 14,050. 
The Karachi Stock market opened up and made an intra-day high of 14,088. Unable to sustain its gains it closed down at 13,989. The total volume traded today was relatively lower at 107.8 million. A close above 14,080 would lead towards 14,300. Downside support is 13,800.
