9,144
August 27, 2008
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.
Dividends : Adamjee Insurance : 15% Cash EPS : 29.33
Nishat Mills : 25% Cash EPS : 38.38
Bank of Punjab : -4.97 EPS
News : The Pakistani Stock Exchange authorities on Wednesday set a floor of 9,144 points for the Karachi Stock Exchange (KSE) index for Thursday, following heavy losses in recent days, the exchange said. The stock market has fallen for six consecutive sessions since August 20 and has lost 43 percent since hitting a record high of 15,739.28 points on April 21.“The continuous sharp decline in share prices can have implications for the wider financial system,” the board of directors of the KSE said in a statement. “With this in mind, the board decided to place a floor, based on the closing prices of securities on Wednesday,” it said. “The individual security prices will remain free to trade within the normal circuit breaker limits, but not below the floor price level as mentioned,” it said. … Daily Times
Saudi authorities have assured the Pakistan delegation that the Saudi oil facility against deferred payment will be started very soon…"We fully understand it’s not a time of procrastination, it’s time of action," the Saudi minister was quoted as saying during his talks with the Pakistani team members who met him on Wednesday. According to sources, the Saudi minister has assured the Pakistan team that oil facility will be started "as early as possible". The sources believed that the facility is likely to come into effect in the next few days…Aaj News
Trading in Arif Habib Investment Management Ltd. will start from 2moro. The market lot of the company will be 100 shares of Rs.10/- each and the symbol will be AHIML .
Market Low : 8,999.36 High : 9,430.29
Market Close : 9,144.93 — 285.36 points down
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.
The Karachi Stock market made a high of 11,625 and closed up at 11,542. The market seems to be stagnant at these levels and needs to breakout either way. OGDC has closed below its 30 DMA at 122. PTCL’s result was below expectations. 2moro’s Friday show could see a sellout in lieu of the upcoming CLN issue or some upside based on the results due 2moro and in anticipation of those due on Monday. A close above 11,635 would pave the way for 11,750.
More upward movement at the Karachi Stock Exchange today, with the market closing on its high of 10,590. The market has closed above its 50 DMA ,just short of its 200 DMA at 10,600. 10,700 is the next resistance level upwards and downside support is at 10,450.
After 2 days of minor corrections , the Karachi Stock market resumed its upward stride to break 10,400. The market made a high of 10,444 closing up at 10,425 , the highest close since December 15th 2006.
The KSE-100 index made a high of 10,394 closing at 10,358.
The Karachi Stock market didn’t have the juice to make much headway above its previous close. It made a high of 10,424 and closed at 10,374. Holding up above 117, OGDC could still head to 122. Cements made some headway with Lucky closing at its upper limit. 10,500 remains to test the market’s upside and 10,300 for the downside.
A calm yet soporific performance on the first day of trading in 2007 at the Karachi Stock Exchange. Extremely low volumes with only 21.4 million shares traded. The KSE-100 index made a high of 10,066 and a low of 10,020 to close up at 10,060. At one stage it seemed that the market was almost suspended with only 1.5 million shares traded in an hour. Given the recent bashings and jitters in the market, this is better than minus 200 points. Callmate Telips began trading again today after its 
The last trading session at the Karachi Stock Exchange for 2006 was another uneventful low volume day, with 71.6 million shares traded. The market made a high of 10,105 and then closed down at 10,040. Downside faces a test of 9,935 followed by 9,800 and a close above 10,155 will head for 10,300-500. Its only a matter of time before interest will pick up and the market starts to go up again, probably after the middle of January 2007.
A relatively lacklustre day at the Karachi Stock Exchange with low volumes of 73.9 million shares traded. The market made a high of 10,087 and closed up at 10,058. Marginal improvements in cements with DGKC as the volume leader of the day and DGKC, Lucky Cement and Maple Leaf closing up.
The Karachi Stock market continued its upward movement making a high of 10,155 and then fizzled out, unable to sustain its gains, closing at 10,030. Last week it recovered to 10,182, only to get bashed again.The market needs to consolidate above 10k to make further headway to 10,200-300 and don’t expect much as there are only 2 trading sessions left for the week with a 4 day break thereafter till Jan 3rd. 
After further downside to 9,963 the Karachi Stock market finally started recovering and closed up at its high of 10,182, a 25% recovery from the 500 point bashing in the last two days. The next level of resistance is 10,300. There was apparently some foreign selling in certain stocks which led to their downside in the last 2 days. 
The Karachi Stock market got a further bashing down to 9,982 and closed at 10,055. The is the first break of the 10k index level in some time. While there is no real bad news this week to incur a drop of nearly 500 points in the last 2 trading sessions, there has been no good news in the last six weeks either. Is the re-opening of the stupid fucking forensic report , based on a crash nearly 2 years ago, doing this market any good ?? While the National Asssembly standing committee on Finance might get their pound of flesh, the ‘’small investor'’ gets raped once again !
