http://karachistockmarket.blogsome.com The rollercoaster of a day trader's dream/nightmare riding the KSE. Thu, 21 Aug 2008 01:43:29 +0000 http://backend.userland.com/rss092 en The KSE-100 index experienced more than a correction as the recent 1000 point bubble was popped on the news that the Gov. is indecisive on the judiciary restoration once again. The market fell down to a low of 10,483 and close at 10,525. Friday is now the "new" deadline for ... http://karachistockmarket.blogsome.com/2008/08/20/10525/ The market opened up and made a high of 11,061 and closed lower at 10,919 after some profit taking set in. Volumes were relatively higher with 147.1 million shares traded. The KSE-100 index has now risen over a 1000 points in the last 3 days and could well correct 2moro. It ... http://karachistockmarket.blogsome.com/2008/08/20/10919/ The KSE-100 index shot up to 10,719 on the news that President Pervez Musharraf finally resigned in the closing minutes of the market. The erection in the graph in the last 20 mins shows an increase of some 200 points. P.Mush’s resignation has removed the uncertainty factor for the market, ... http://karachistockmarket.blogsome.com/2008/08/18/10719-president-musharraf-resigns/ Friday’s close saw the KSE-100 index ignoring the sliding rupee and zooming up to close at its high of 10,258. The perception that there will soon be some clarity amidst all the current political uncertainty, led the market upwards. That immediate clarity will only come from the resignation of P.Mush ... http://karachistockmarket.blogsome.com/2008/08/17/10258/ Soneri Bank Ltd (SNBL) : 18th Indus Motors Co. Ltd (INDU) : 19th Oil & Gas Development Company Ltd (OGDC ) : 20th Allied Bank Ltd. (ABL) Packages Ltd. (PKGS) : 21st ICI Pakistan (ICI) Pakistan Refinery Ltd. (PRL) Lucky Cement (LUCK) Muslim Commercial Bank Ltd (MCB) : 22nd Arif Habib Bank Ltd (AHBL) ... http://karachistockmarket.blogsome.com/2008/08/17/board-meetings-for-august-2008-ii/   The Karachi Stock Exchange (KSE) has carried out the exercise of re-composition of KSE-30 Index for the review period from January 1, 2008 to June 30, 2008. The recomposed KSE-30 index will be implemented from August 15, 2008. Inclusions :  Azgard Nine Limited + Arif Habib Ltd + Netsol Technologies Ltd ... http://karachistockmarket.blogsome.com/2008/08/14/kse-30-index-recomposed-from-15th-august/ The market will be closed today as its a public holiday for  Independence Day . Not much to celebrate at the moment. http://karachistockmarket.blogsome.com/2008/08/14/market-closed-8/ The Karachi Stock market dipped down to its support level of 9,700 and then recovered to close at 9,902. The rupee has fallen even more today and that is not helping the market, nor the economy. In fact nothing is helping the market or economy thanks to our fucked up ... http://karachistockmarket.blogsome.com/2008/08/13/9902/ The KSE-100 index  opened up and made a high of 10,250, it then dipped down to a low of 9,848 and recovered to close down at 9,963. Profit taking, a bomb blast and an even weaker rupee saw the market close lower. Greazy Z has backtracked on his remark in ... http://karachistockmarket.blogsome.com/2008/08/12/9963/ The KSE-100 index continued upwards to make a high of 10,240 and closed up at 10,171. The market got the boost from the fact that Moody’s didn’t downgrade their rating on Pakistan. The next upward resistance is 10,500 News : Moody’s will maintain its rating for Pakistan despite political and economic ... http://karachistockmarket.blogsome.com/2008/08/11/10171-moodys-rating-for-pakistan-remains-at-b2/ Friday saw the KSE-100 index dip down to 9,583 and then recover to close up at 9,909. Heavy support and buying from the EMOF took the market up along with the news that some of the bigger companies have expressed an interest in buying back their shares given the current ... http://karachistockmarket.blogsome.com/2008/08/10/9909/ The Karachi Stock market opened and dipped down to 9,469, a new intra-day low for 2008. It then recovered making a high of 9,816 and closed marginally up at 9,707, just above its support level. At the moment, there is no point in further bellyaching about what the current hopeless ... http://karachistockmarket.blogsome.com/2008/08/07/9707/ The KSE-100 index slid further downwards today on selling based on the "new" political agenda of the pathetic coalition govt.’s announcement to impeach P.Mush. The market has now fallen nearly 6,000 points since its all time high of 15,676 on April 18th, about 38%. At a time when the rupee ... http://karachistockmarket.blogsome.com/2008/08/06/9678/ The Karachi Stock market’s opening was delayed this morning as a meeting was being held to discuss whether the index would be frozen at 9500 and other emergency market issues. As expected the SECP refused to freeze the market at 9,500 and the market dipped down to 9,556 and recovered ... http://karachistockmarket.blogsome.com/2008/08/05/10042/ The KSE-100 index rose to make a high of 10,282 and then got raped again down to a low of 9,739 and closed down at 9,853. The market swung a total of 543 points from its high to its low and has closed at its lowest close since Dec.22nd 2006. ... http://karachistockmarket.blogsome.com/2008/08/04/9853-10k-breaks-mkt-at-21-month-low/ Once again the KSE-100 index got gangbanged on Friday and closed down at 10,171 ( the lowest close since Jan.4th 2007 ) . While the market seemed to be on the right track after the interest rate announcement on the 29th , Thursday and Friday saw a slide of 680 ... http://karachistockmarket.blogsome.com/2008/08/03/10171/ Hub Power Co. (HUBCO) : 5th Pakistan Petroleum Ltd (PPL) : 6th Nestle Pakistan Ltd (NESTLE) : 7th Shell Pakistan Ltd. (SHEL) : 11th JOVC Pakistan State Oil (PSO) : 12th World Call Telecom (WTL) Faysal Bank Ltd. (FABL) Jahangir Siddiqui & Co. (JSCL) : 16th Crescent Commercial Bank Ltd. (CCBL) http://karachistockmarket.blogsome.com/2008/08/03/board-meetings-for-august-2008/ As expected, the KSE-100 index shot up today closing 404 points up at 10,853. Despite the 400 point rise, volumes were relatively low with 87.6 million shares traded. The 1% interest rate hike was within market expectations and no further hikes in the CRR & SLR were seen as positive. ... http://karachistockmarket.blogsome.com/2008/07/30/10853/ The Karachi Stock market dipped down to 10,255 and recovered to close down at 10,448. The monetary policy has been announced (see article below ) which removes any future uncertainty from the market. The market should go up once the interest rate hike has been absorbed, however a close below ... http://karachistockmarket.blogsome.com/2008/07/29/10448-interest-rate-hiked-by-100-bps/ The KSE-100 index got hammered today on investors’ fears of another interest rate hike due to be announced 2moro. The market fell 453 points to close down at 10,578. It could fall further depending on the amount of the interest rate hike, the bigger the hike, the greater the fall. ... http://karachistockmarket.blogsome.com/2008/07/28/10578/ The KSE-100 index made a high of 11,173 , then dipped down to 10,979 and close up at 11,156. Total volume traded today was 111.9 million shares, still on the low side. Arif Habib Securities was the flavour of the day with 12.6 million shares traded. The market has closed ... http://karachistockmarket.blogsome.com/2008/07/24/11156/ Another positive day at the Karachi Stock Exchange with the market making a high of 11,141 and closing up at 11,018. The market seems to have met resistance at 11,100 and needs to close above it for its next move to 11,400-700. Oil has dropped further down to $125 and ... http://karachistockmarket.blogsome.com/2008/07/23/11041/ The Karachi Stock market opened up and stayed positive all day, closing at 10,784. The market rose in anticipation of the Finance Minister’s visit this afternoon . He announced that the EMOF would be Rs.20 billion and would be managed by NIT. Also mentioned that the Govt. would work with ... http://karachistockmarket.blogsome.com/2008/07/22/10784/ After another dip down to 10,057, the KSE-100 index finally closed up with a reasonable gain of 140 points at 10,374. The Government has finally woken up to realize that the market has gone down nearly 35% in the last 3 months. This has resulted in a visit from the ... http://karachistockmarket.blogsome.com/2008/07/21/10374-2/ The KSE-100 index has been bludgeoned by relentless selling this week and closed down at 10.212, the lowest close since Jan. 8th 2007. The market has lost 965 points in the last 4 trading sessions, about 9% . Finally there were several people rioting at the bourses breaking windows in ... http://karachistockmarket.blogsome.com/2008/07/17/10212-end-of-the-current-carnage/ As expected the Karachi Stock market got badly fucked, as the lower limit was opened to 5% today and the market fell by 518 points. Volumes were on the low side with 49.3 million shares traded, not much different from July 9th when the lower cap was 1% and 50 ... http://karachistockmarket.blogsome.com/2008/07/14/11177/ Friday saw the week ending with the KSE-100 index closing down yet again, at 11,695. After Friday’s meeting of the SECP & the stock exchanges, it has been decided that the locks will revert to their normal 5% up or down as of July 14th. Short selling will be allowed ... http://karachistockmarket.blogsome.com/2008/07/13/11965/ The Securities and Exchange Commission of Pakistan (SECP) has issued tentative regulations for Equity Market Opportunity Fund (EMOF) worth Rs50 billion which will be injected into the fast falling capital market to stabilise it in bad days…Next meeting on the fund formation is scheduled to be held on July 16th. ... http://karachistockmarket.blogsome.com/2008/07/11/the-friday-july-11-2008-e-mail-this-article-to-a-friend-printer-friendly-version-share-this-story-delicious-digg-reddit-furl-fark-tailrank-magnolia-newsvine-simpy-spurl-equity-market-opportunity-fund/ After yesterday’s volume of 50 million, the market resumed its previous low volume, trading only 10.5 million shares. The market remained down the whole day and in the last 2-3 minutes jumped up by 60 odd points on heavy buying in HBL. The outlook for 2moro looks the same till ... http://karachistockmarket.blogsome.com/2008/07/10/11773/ The KSE-100 index actually went into the green zone a couple of times today, the first time in many days. The rapid (but long overdue ) support measures by the SBP on halting the rupee’s slide and yesterday’s news of a Rs. 50 billion market fund being talked about , ... http://karachistockmarket.blogsome.com/2008/07/09/11796/ More of the same today as the Karachi Stock market closed down yet again , despite a marginal increase in volumes to 18.9 million shares traded. Oil got a good hammering today and was down by $5. The rupee got fucked further and closed at 72.80 News : The Securities and ... http://karachistockmarket.blogsome.com/2008/07/08/11813/ The KSE -100 index slid further downwards today with relatively higher volumes of 13.4 million shares traded. Bank Alfalah’s volume of 4.476 million shares traded today was higher than the total volume of shares traded on Friday. The horizon looks bleaker as the rupee had an enormous slide today(2.5%) closing ... http://karachistockmarket.blogsome.com/2008/07/07/11878-a-sliding-rupee/ Fauji Fertilizer Bin Qasim (FFBL) : 17th Engro Chemical (ENGRO) : 24th Habib Bank Ltd (HBL) : 25th Pakistan Premier Fund (PPFL) : 4pm Arif Habib Ltd : (AHL) : 29th : 3.30 pm Fauji Fertilizer Co. Ltd. : (FFC ) : 30th  10.p.m. Arif Habib Securities Ltd : (AHSL) : 4.pm http://karachistockmarket.blogsome.com/2008/07/07/board-meetings-for-july-2008/ As expected the market closed down again on Friday and traded another incredibly low volume of 4.1 million shares. The next week could see another replay of this one with daily lower caps and negative closings unless by some miracle there is some good news. The SECP are meant to ... http://karachistockmarket.blogsome.com/2008/07/06/11961/ More low volume trading saw the KSE-100 index post its 5th consecutive negative close today. Only 9 million shares were traded. The ruppee hit a new low today and nearly crossed Rs.70 to the dollar. Its seems likely that there will be another negative close 2moro being the end of ... http://karachistockmarket.blogsome.com/2008/07/03/12035/