9,301
October 1, 2009
Dividends : Pakistan Oilfields Limited (POL) has earned Rs 5.618 billion in the year ended on June 30, 2009 against Rs 8.616 billion in the previous year. The earnings per share of the company decreased to Rs 23.75 in the year under review over Rs 36.43 in the last year,…The sales of the company also dropped to Rs 15.082 billion during the year from Rs 18.245 billion in the last year whereas operating incomes also moved up during the year. The company also announced a final cash dividend June 30, 2009 at Rs 10 per share i.e.100 percent… Daily Times
Pakistan’s equity market recorded the highest return in a single quarter during July-September 2009-10 since the calendar year 2002—thanks to bullish sentiment triggered by IMF funding and foreign portfolio investment. During the 1st quarter of current financial year, benchmark KSE-100 index gained 2,187 points to close to 9,439.67 on September 30, 2009, making 31 percent improvement from 7,162.18 levels on June 30, 2009.“This was the highest return posted by the KSE-100 index in single quarter since CY2002,” analyst Syed Abid Ali at Arif Habib Securities pointed out and attributed it to positive stance by the international rating agencies, healthy foreign inflows, successful army operation in Swat and improving macroeconomic situation… Daily Times
Loss-ridden Mybank on Thursday announced the sale of 59.34 per cent shares to a Mauritius-based investment firm, which had recently acquired Arif Habib Bank… Mybank said a sale-purchase agreement was executed on September 30th to sell stocks to Suroor Investments Limited at Rs8 per share.The deal had been sealed at a premium over the price of Mybank’s listed share, which closed at Rs5.42 at the KSE on Thursday, Hussain Lawai, President of AHB said.He said the acquisition would help AHB to expand its outreach. “Mybank has 80 branches and combined with 34 branches of AHB the network will be strengthened across the country.” The News
Market Low : 9,292.73 High : 9,489.22
Market Close : 9,301.18 — 48.50 points down
Talks with the IMF have been successful in terms of the release of the 3rd tranche & an additional loan of $3.2 billion. As the market had been sitting on the fence awaiting the news, it should propel the KSE-100 index above 8k next week. The final upward trigger will depend on how many bps will be cut in the Monetary Policy announcement on August 15th.
The KSE-100 index has finally closed above 7,800, its highest close since April 21st. 
Foreign selling and margin calls led to the KSE-100 index getting yet another bashing today with a low of 8,999 and closing down at 9,144. The market has been fucked shapeless in the last few sessions with prices on the board that one hasn’t seen for years. Apparently the KSE held an emergency meeting to try and freeze the index at todays close (details below).This measure should stem the rot for the moment.
The KSE-100 index made a new intra-day high of 15,297, yet closed down at 15,122. As it is rollover week there could be some more selling pressure. Upward resistance is 15,230.
The KSE-100 index opened up with a huge erection of over 190 points. Making an intra-day high of 15,231, the market closed up at an all time high of 15,182, embracing the dawn of democracy, celebrating a new chapter of corruption with one of the most corrupt political parties in Pakistan’s history at the helm. Cements were the flavour of the day with Lucky Cement scoring a total volume of 30.5 million shares traded. Upward resistance is 15,231-300.
The KSE-100 index made a high of 14,970 and then undertook a much needed correction down to 14,740. It recovered to close down at 14,816. Voulmes were considerably lower at 144 million shares traded. Bank Alfalah was the top volume stock traded today. 
Global panic selling took its toll on the KSE-100 index which opened over 250 points down and then slowly recovered to close down at 13,759. Arif Habib Ltd closed at its highest close to date at its upper limit of 360.55 and traded its highest ever volume of 5 million plus shares. Markets got another bashing with HK, China and India suffering further losses. 
A choppy day at the Karachi Stock Exchange with the index making a low of 13,201, a high of 13,346 and closing up at 13,316. OGDC continued its gains and made a high of 120.90. Oil has hit $98 again. Upside resistance is 13,360-13,470.
