15,472 - soaring higher

The KSE-100 index shot up to a new intra-day high of 15,523 and closed at another record high of 15,472. 3 record highs in 3 consecutive days. OGDC was the flavour of the day and finally pulled its finger out to make a high of 139.95 having stagnated for days in a range of 133-136.80. It traded 39.4 million shares, 10 times its volume yesterday, and gave the market the impetus for a bigger upward thrust. It’s possible that there could be some correction soon  before making more headway to 16,000. Downside support is at 15,300.

Dividends : Pak Reinsurance : 455.55% Bonus. EPS : 69.02

News : Bank Alfalah Limited is acquiring a 15 percent stake in the National Clearing Company of Pakistan Limited (NCCPL)… the approval of Securities and Exchange Commission of Pakistan (SECP) has been received and shares are in progress of issuance. Bank Alfalah is acquiring 1.125 million shares in  NCCPL. …After this acquisition, the shareholding structure of NCCPL will be as Karachi Stock Exchange 40 percent, Lahore Stock Exchange 20 percent, Islamabad Stock Exchange 10 percent, Pakistan Kuwait Investment Company (Private) Limited 15 percent and Bank Alfalah 15 percent. The company’s paid-up capital was Rs 63.70 million before selling 15 percent stake to Bank Alfalah. The NCCPL has permission to raise its authorised capital up to Rs 300 million… Aaj News

Upper Caps : Nishat Mills / Azgard Nine

Market Low : 15,345.32 High : 15,523.88

Market Close : 15,472.45 – 127.13 points up. 

source: karachistockmarket.blogsome.com

Filed under Banks, Daily Market News, Dividends
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Board Meetings for April 2008

Jahangir Siddiqui & Co. (JSCL) : 8th

Pakistan Refinery Ltd. (PRL) : 11th

Shell Pakistan (SHEL) : 17th

Fauji Fertilizer Bin Qasim (FFBL) : 23rd

Packages Ltd (PKGS) : 24th 

source: karachistockmarket.blogsome.com

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15,345 - another new high

The KSE-100 index traded in a narrow band today, from a low of 15,304 to a new intra-day high of 15,401.The market closed up at 13,345, another record close. Lucky Cement was the flavour of the day closing at its upper limit with 28.9 million shares traded. Overall market volumes increased considerably with 224.7 million shares traded. The next upward resistance is 15,400 and downside support is 15,100.

News :  Pakistani cement sales surged 25 percent in the first nine months of the 2007/08 (July-June) fiscal year, compared with the previous year, driven by growing construction demand, an industry official said on Thursday.Cement sales during the period totalled 21.9 million tonnes, compared with 17.5 million tonnes sold in the same period last year, said Shahzad Ahmed, secretary-general of the private All Pakistan Cement Manufacturers Association… Aaj News

In a strange move, the Ministry of Petroleum (MOP) has set the cat among the pigeons by seeking personal information of all the Managing Directors, Chairmen, members of all the boards, corporations, companies and attached departments…They have been asked to provide all the personal details including passport numbers, NIC numbers, date of birth, previous experience and date of joining in the existing positions.This is the first time in the history of the country that the top management including board members have been asked to provide their passport numbers to the ministry…This strongly indicates that something highly unpleasant is brewing… Aaj News

Upper Caps : Lucky Cement / Arif Habib Ltd. / Pace Pakistan Ltd.

Market Low : 15,304.06 High : 15,401.28

Market Close : 15,345.32 – 12.41 points up  

source: karachistockmarket.blogsome.com

Filed under Cement, Daily Market News
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15,333

The Karachi Stock market closed at an all time high of 15,333.

Upper Caps : NML/ PACE / PICT / AZGARD NINE

Market Low : 15,052.91 High : 15,333.79

Market Close : 15,333.79 – 123.93 points up 

 

source: karachistockmarket.blogsome.com

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The KSE-100 index was back on track today and closed up at 15,210. Volumes were marginally higher with 158.4 million shares traded. Azgard Nine was the flavour of the day closing up at its upper limit. FFC made its highest close for the year at 145.60. Upside resistance is at 15,300.

News : The Federal government has rejected OGRA’s suggestion to raise petroleum products prices and has agreed that the prices of the petroleum products will remain stagnant for the next 15 days… Source : Aaj News

The National Bank of Pakistan (NBP) will open its first branch in Saudi Arabia in May…NBP President Syed Ali Raza said that the bank was expanding its operations abroad and it would also open two branches in Dhaka and Sylhet in Bangladesh soon…he said that the issue introducing NBP’s global depository receipts (GDRs) would be decided by the new government and it was expected that the decision would be announced very soon… Aaj News

Upper Caps : Azgard Nine / NIB Bank / Sitara Peroxide

Market Low : 15,052.91  High : 15,230.93

Market Close : 15,210.17 – 84.88 points up.

source: karachistockmarket.blogsome.com

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15,125

The Karachi Stock market corrected down to 14,971 today and recovered to close at 15,125. Rumours of the ‘’March 2005 crisis" being reinvestigated dampened the market sentiment. It seems once again that we are looking backwards instead of going forwards, crying over split milk for an issue 3 years old ! Perhaps some of the new politicians got fucked in the "crisis" and therefore want the issue reopened. Volumes were on the low side with 128.4 million shares traded.

Market Low : 14,971.08 High : 15,293.08

Market Close : 15,125.89 – 142.33 points down

source: karachistockmarket.blogsome.com

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15,268

On Friday the KSE-100 index showed some resilience as it closed down by only 6 points. There seemed to be no weekend selling as such and the market stayed in a tight range of 15,221 - 15,311. Upward resistance is from 15,333-400 and downside support is at 15,100

Dividends : Adamjee Insurance : 15% Cash  EPS : 41.09

Upper Cap : Azgard Nine
Lower Cap : Adamjee Insurance

Market Low : 15,221.84 High : 15,311.51

Market Close : 15,311.51 — 6.31 points down

source: karachistockmarket.blogsome.com

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15,275 - further highs

Slowly but surely the Karachi Stock market is setting new highs.Today’s close at 15,275 and intra-day high of 15,333 have broken all records (so far ). The market is nearly 4000 points up from 27/3/2007. Arif Habib Securities was the top scorer in terms of volume with 22.6 million shares traded. 2moro’s "Friday show" could well see some selling / correction. Upward resistance is at 15,333 and downside support is at 15,120-050.

News : In its budget proposal for the fiscal year 2008-09, the Karachi Stock Exchange (KSE) has recommended to the Minister of Finance to extend the exemption in Capital Gain Tax (CGT) in shares market up to June 30, 2013… The News

The Pakistan Peoples Party is considering to nationalize Karachi Electric Supply Corporation (KESC) to control the power crisis in Karachi…Source : Aaj News

Upper Cap : Adamjee Insurance

Market Low : 15,198.86 High : 15,333.97

Market Close : 15,275.47 — 76.60 points up. 

source: karachistockmarket.blogsome.com

Filed under Daily Market News, KSE & SECP News
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15,199 - another new high

The KSE-100 index is scaling new peaks, though not very convincingly, by only a few points at a time. Today’s close at 15,199 is the highest so far, with no doubt there will be more to come. Oil has risen by $5 dollars today on the news of a US shortfall in supplies. JS Bank Ltd was the flavour of the day with 17.6 million shares traded. Upward resistance is at 15,297, the previous intra-day high.

News : The Federal Board of Revenue has agreed to give income tax exemption on the expansion of power projects by the Independent Power Producers (IPPs) operating in the country… Source : Aaj News

MOL Pakistan, the operator of Tal Block, has signed a contract for the Manzalai Field Development Surface Facilities, worth $119 million with a consortium, PDIL, here. Manzalai field is located in the Karak and Hangu districts of NWFP.The target of the project is to produce 200 mmscfd natural gas and 4,000 BPD condensate as the second stage of the Manzalai Field development. Together with the first stage the planned production from the Manzalai Gasfield will be 250 mmscd and 4,500 BPD condensate…. Aaj News

Market Low : 15,122.76 High : 15,263.16

Market Close : 15,199.37 – 76.61 points up. 

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Oil & Gas Exploration
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15,122

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.

News : The Securities and Exchange Commission of Pakistan (SECP) has said that CFS MK-II will be implemented from the previously announced date of April 7, 2008 and it would run parallel to the existing CFS with same cap till June 30, 2008…Current CFS Market will have the existing cap of Rs55 billion and 41 eligible securities.CFS Mk-II market will have no cap and will be available on the following eligible securities with effect from April 7, 2008.
Category “A” CFS MK -II eligible securities are Arif Habib Bank , Crescent Steel, Habib Bank , JS Bank, Jahangir Siddiqui & Co., National Refinery, Pace (Pak), Sitara Peroxide and United Bank. Category “B” CFS MK -II eligible securities are Meezan Bank, Pakistan International Container Terminal and Tri-Pack Films..The News

Upper Cap : JOVC

Market Low : 15,101.89 High : 15,297.03

Market Close : 15,122.73 — 59.64 points down 

source: karachistockmarket.blogsome.com

Filed under Daily Market News, KSE Stocks
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