Owner: Karachi Stock Market Blog URL:http://karachistockmarket.blogsome.com/ Join Date: Fri, 27 Oct 2006 18:13:22 -0500 Rating:0 Site Description: Daily updates on the Karachi Stock Market, with news, company dividend information and KSE-100 index movements. The rollercoaster of a day trader's dream /nightmare riding the KSE-100 index. Site statistics:Click here
Market closed for Eid holidays 2006-10-20 10:40:46 The Karachi Stock Exchange will remain closed from today until Thursday 26th October in lieu of the Eid holidays. It is currently uncertain if the market will open on Friday 27th Oct, if not then Monday 30th will be the next trading session.
Read more:Market
11,565 : ending on a pre - Eid high 2006-10-19 19:48:55 As mentioned yesterday the Karachi stock market broke 11,500 and made a high of 11,596, closing at 11,565. Since the 17th Oct. it has risen by 660 points, a 6% increase.There seems to be a lot of foreign buying with money being pumped into OGDC and NBP. OGDC closed at its upper limit at Rs.156 and has risen nearly Rs.20 this week. The next resistance is 11,650.
News : The Securities and Exchange Commission of Pakistan (SECP) has allowed short selling in the futures market from the November 2006…. Business Recorder
The Securities and Exchange Commission of Pakistan has asked the Karachi Stock Exchange to create a mechanism to enforce payment of margins by institutions…. Business Recorder
The Global Depository Receipt (GDR) of MCB Bank Limited was formally listed on London Stock Exchange on Tuesday, making it the first Pakistani company to get listed at the LSE…. Dawn
Dividends : Fauji Fertilzer Bin Qasim : 7.5% Cash. EPS : Rs.1.42
Engro Chemical : 30% Cash.
11,399 - more upward movement 2006-10-18 20:45:30 The KSE-100 index surged further upward
s to make a high of 11,438 and closed at 11,399. PPL’s upper cap , OGDC’s near upper cap and POL up Rs.15 lead the way to another 232 points up. RSI levels are the highest since May and some correction is expected 2moro as there has been considerable upside recently.Also with the long Eid holidays, people might well shed their positions 2moro till next Thursday. Though as we all know this is a crazy fucking market and it could well test and break 11,500 2moro.
News : The Securities and Exchange Commission of Pakistan (SECP) registered 920 companies in the first quarter (July-September) of the current financial year 2006-07…. Business Recorder.
Four parties including Engro, Fauji Fertilizer Company (FFC), International Petroleum Investment Co (IPIC) and Orascom are interested in installing a new urea plant in view of growing demand of fertilizers in local market…. The News
Upper Cap : PPL
Market Low : 11,167.04&nb Read more:movement
Big upward movement - 11k index breaks 2006-10-17 16:18:45 Finally the Karachi Stock market has broken through its range of 10,800 -11,000 with a 258 plus move taking the index to close above 11,000. With OGDC breaking out above its 200 DMA and closing Rs.6.8 up at Upper Cap, PPL, POL and NBP closing from Rs.7.8 - 9.7 rupees up, the market got the boost it needed to close well above 11k. The next resistance is 11,400.
News : J.P. Morgan is planning to reopen its equity business in Pakistan, the first foreign brokerage to return since …. Business Recorder
Apparently yesterday, the SECP told Callmate Telips to remove the new auditors the comapany had appointed last week, so their accounting deadlock continues.
Dividends : Dawood Hercules : 20% Cash EPS = Rs.18.41
Bank Alfalah will announce its results 2moro.
UPPER CAP : OGDC / CCBL
Market Low : 10,909.31 High : 11,167.93
Market Close : 11,167.93 — 258.62 points up
Read more:movement
, upward
, breaks
10,909 2006-10-16 23:24:30 A day of low volumes on the Karachi Stock Exchange with only 63.9 million shares traded. With a high of 10,965 and a low of 10,902, the market is still holding on to its range of 10,800 - 11,000. If it can’t break 11k it will eventually correct rapidly or slide down to below 10,800.
News : Massive inflow of portfolio investment in the country’s stock market continued as $13.5 million foreign investment came in the country during the last week ending October 12….. Business Recorder
SPOT : FFCL
Market Low : 10,902.99 High : 10,965.83
Market Close : 10,909.31 — 15.24 points down
10,924 2006-10-13 10:45:02 The Karachi Stock market made a high of 10,969 and closed up at 10,924. It seems to be holding on at current levels and the next resistance is 10,950 followed by 11,000.
News : The Karachi Stock Exchange (KSE) has framed the "Continuous Funding System Regulations-2006" with the prior approval of the Securities and Exchange Commission of Pakistan (SECP)….. Business Recorder
With the change of auditors by the shareholders on Thursday, the main issue that troubled Callmate Telips Telecom Limited (CTTL) — the long distance and international (LDI) private operator in Pakistan — seemed to have been resolved…. Dawn
Pakistan’s Oil and Gas Development Company Ltd (OGDCL) hopes to enter its first overseas exploration venture next year… Dawn
SPOT : Bosicor / DGKC / PPL / PTC / SSGC / SNGP
Market Low : 10,877.97 High :10,969.15
Market Close : 10,924.58 — 44.29 points up
10,880 - holding on 2006-10-12 20:41:43 Having dipped down to 10,832 the market went back up and closed at 10,880 , a level it seems to be holding
on at. Whether a bigger correction is due remains to be seen , all fingers point to an increase in the price of OGDC to take the market above 11k.
News : Privatisation Minister Zahid Hamid on Wednesday set the deadline of December 31 for Pakistan State Oil (PSO) sell-off and Oil and Gas Development Company (OGDC) global depository receipt (GDR) offering through the London Stock Exchange… Business Recorder
Dividends : Metropolitan Bank : EPS : Rs. 6.33 PROFIT BEFORE TAXATION RS. IN MILLION 1,917.710 PROFIT/LOSS AFTER TAXATION RS. IN MILLION 1,315.760
Market Low : 10,832.45 High : 10,906.49
Market Close : 10,880.89 — 5.53 points down
10,886 - are the cracks setting in ? 2006-10-12 00:48:38 The Karachi Stock Market made a high of 11,059 and had its first negative close since October 3rd, to close down at 10,886. It has closed at the same level as the lows in the last two sessions and should correct further down before it re-tests a close above 11k.
News : ….the Privatisation Commission has informed the potential bidders that Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company (SSGC) will be offered for bidding… Business Recorder
SPOT : LUCKY
Market Low : 10,879.27 High : 11,059.62
Market Close : 10,886.78 — 72.93 Read more:cracks
10,959 — An overbought market ? 2006-10-10 20:09:36 The market is still holding on to its current range of 10,888 - 11,015 . A lot depends of OGDC to take it up and above 11k and a correction should come in soon if the 11k index is not broken this week. OGDC’s close below its 200 DMA won’t help either. As the market gets more overbought with its RSI rising higher, there will be sharp volatility upwards or more likely downwards.
News : …. Pakistan, as compared to other emerging and non-emerging economies, ranks among the lowest with regard to investment in mutual funds instead of much potential and high return rates….. Business Recorder
MCB’s GDR receives an enormous resposnse…. Dawn
Dividends : Worldcall Telecom : 15% Bonus EPS : Nil
Faysal Bank : FINANCIAL RESULT FOR THE THIRD QUARTER ENDED 3O/O9/2OO6 EPS : Rs. 5.37
PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 3,085.148PROFIT/LOSS AFTER TAXATION RS. IN MILLION 2,275.304
UPPER CAP : CTTL
Market Low : 10,888.71 High : 11,017.28
Market Close
10,942 2006-10-09 20:31:38 The Karachi Stock market made a high of 11,015 and closed at 10,942. While corrections are expected as the market’s indicators are showing that its overbought, the next level up is a close above 11k with resitance at 11,100. OGDC has closed up at 137.20, nearly above its 200 DMA and could well give the added index boost the market needs to cross and close above 11k. Banks are undergoing a correction of their rapid highs.
News : The Board of Directors of Karachi Stock Exchange (KSE) has formally approved all changes agreed at the meeting between Securities and Exchange Commission of Pakistan (SECP)…. Business Recorder
Market participants are expecting that the much awaited cash settled single stock future contracts…. Dawn
LOWER CAPS : BAFL / Faysal Bank
UPPER CAPS : CTTL / HUBCO / SNGP
Market Low : 10,888.32 High : 11,015.74
Market Close : 10,942.92
More Board Meeetings in October 2006-10-08 00:07:32 The following companies have their board meetings in October
:
9th October :
Telecard LtdPakistan Cement LtdFaysal Bank Ltd Worldcall Telecom LtdTRG Pakistan Ltd Attock Cement LtdAttock Petroleum Ltd
11th October :
Metropolitan Bank
17th October :
Indus Motor Company Ltd
18th October :
Unilever Pakistan Ltd Bank AlfalahFauji Cement
19th October :
Shell Pakistan LtdFauji Fertilizer Bin QasimICI Pakistan Ltd KapcoEngroPakistan Oilfields Ltd
20th October :
Pakistan Refinery Ltd
29th October :
Oil and Gas Development Co. Ltd
Read more:Board
10,927 - Heading for 11k ? 2006-10-06 20:36:01 The last time the Karachi Stock market was at the 10,900 levels was August 8th when it made an intra-day high of 10,908 and then slid downwards to 10,798, 10,500 and then further down. Today the market crossed 10,900 making a high of 10,947 and closed at 10,927. The next resistance is 10,950, 11000, and 11,180. As the index weightage in this market is totally imbalanced with OGDC, a lot depends on OGDC’s ability to break and close above 137.5 , its 200 DMA. There should be some correction coming soon as the market has gone up by 335 points in the last 3 sessions and its RSI (14) is over 70.
Telecard will announce its results on October 9th
News : Callmate Telips (CTTL) is to begin its operations in Europe in the first week after Eid… Dawn
SPOT : POL
UPPER CAP : Soneri Bank
Market Low : 10,838.76 High: 10,947.58
Market Close : 10,927.05 — 71.22 points up Read more:Heading
10,855 - the banking sector sizzles 2006-10-05 12:59:05 The upward movement continued at the Karachi Stock Exchange with the market closing up at 10,855, having made a high of 10,877. The next resistance is 10,900 and then through the 11k index to 11,150. A correction is due soon as the market is looking a bit overbought. OGDC has to close above its 200 DMA at Rs.137 for further upside.
Banks are going through the roof amid rumours since last week of foreign buyers looking to purchase certain banks like PICIC, BAFL, SNBL & Faysal Bank. ABN Amro plans to start a due diligence review of Prime Bank, while Barclays Plc, Singapore’s Temasek Holdings, and HSBC are also sniffing around. NBP closed up Rs.10.4 at Rs.276 and MCB up Rs.11 at 273. BOP has finally broken out of its range of 81-87 to close at Rs.91.70.
NEWS : Dutch bank ABN Amro is eyeing a stake in Prime Bank, and plans to start a due diligence review…. Business Recorder.
The Karachi Stock Exchange (KSE) has revised the futures contract schedule for trading and settl Read more:banking
, sector
Breakout to 10,744 2006-10-04 13:07:45 The KSE -100 index opened down correcting to 10,531 and then towards the end made a high and close of 10,774. (The last time the market closed at this level was August 4th) Managing to successfully cross the 10,650 resistance level and closing well above its 200 DMA, the market should head upwards to 10,900 with corrections along the way. In the last half hour of the session OGDC went up Rs.6 to close at Rs.134.5 , taking the index right up with it. OGDC has finally closed over its 50 DMA and could head to test its 200 DMA at around Rs.137.
News : KSE asks for in-house badla details to be provided by October 16th…. Dawn
Dividends : Kohinoor Textile : 10% Bonus. EPS : Rs.2.82
Ghandhara Industries : 30% Cash. EPS : Rs.79.44
Market Low : 10,531.45 High: 10,774.67
Market Close : 10,774.67 — 151.95 points up Read more:Breakout
10,592 2006-10-03 21:48:44 The market went upto 10,698 and then corrected down to 10,559, finally closing at 10,592. A close over 10,650 would see more upside on the horizon and 10,400 is the current downside. It seems that another test of 10,650 is possible yet with the RSI (14) at 65 market is heading towards being slightly overbought and could correct again.
News: The Securities and Exchange Commission of Pakistan (SECP) is unable to complete the forensic investigations into last year’s stock market crash. More BULLSHIT about the March 2005 crash from the Dawn.
Dividends : Fauji Cement : 5% Cash EPS : Nil
Upper Cap : BAFL
Market Low: 10,559.86 High : 10,698.69
Market Close : 10,592.72 — 23.52 points down
Moving up to 10,616 2006-10-02 20:23:19 The mini-bull run continues on the Karachi Stock market with a high of 10,653 and closing at 10,616. Once again it is heading to breakout of its 10,500 - 10,655 range and could continue to 10,900. Some correction is due soon . Banks continue to be the hot trend despite the news about the NSS below.
News : Banks, mutual funds and asset management companies are expected to be adversely impacted by the government’s decision to permit the corporate sector to invest in National Savings Schemes … Business Recorder
Dividends : Shahtaj Textile : 20% Cash. EPS : Nil
Sui North Gas : 10% Bonus + 30% Cash. EPS : Rs.7.46
Sui South Gas : 13% Cash : EPS: Rs.1.33
Pioneer Cement: 4.51% Bonus + 10% Cash EPS: Rs.4.16
Kohat Cement : 10% Bonus EPS: Rs.9.06
SPOT : Bank of Punjab / Fauji Fertilizer
UPPER CAPS : Bank Al-Falah / Faysal Bank / Metropolitan Bank / Soneri Bank / Sui South Gas
Market Low :10,512.48 High: 10,653.46
Market Close : 10,616.24 — 103.76 points u Read more:Moving
Board meetings in October 2006-10-01 11:36:57 Fauji Cement (FCCL) : 2nd October
AMZ Ventures (AMZV) : 6th October
Cresent Standard Investment Bank (CSIBL)
Ibrahim Fibres (IBFL)
Dewan Faruque Motors (DFML)
Chenab Limited (CHBL) : 9th October
Unilever Pakistan (ULEVER) : 18th October
Read more:Board
10,512 2006-09-29 19:04:05
The Karachi Stock market has held above its 200 DMA for the second day running. It made a high of 10,562 and given the fact that it was a shorter session being a Friday in Ramzan, the volume of 130.6 million shares traded was good. The next resistance level is 10,600. A correction could be due at current levels before the market continues upwards.
News : The Securities and Exchange Commission of Pakistan (SECP) has agreed to accommodate the Karachi Stock Exchange’s request for implementation of the new risk management system to be put in place. The SECP has also agreed that the enhanced Continuous Funding System (CFS) will be introduced into four phases. Full details at the Business Recorder.
Oil and Gas Development Company Limited (OGDC) has made a discovery in Mela Well No.01 …. Dawn
Dividends : Searle Pakistan : 10% Bonus + 15% Cash. EPS : Rs.3.53
Kohat Cement and Telecard will announce their results on Monday as the broad meeting is 2moro.
UPPER CAP
10,528 - 200 DMA breaks 2006-09-28 11:16:39 Continuing its upward surge the Karachi Stock Market broke through its 200 DMA with a high at 10,547, closing at 10,528. The next resistance level is 10,655. OGDC closed above its 30 DMA and could head to Rs.132 . Volumes were higher with 218 million shares traded. Ramzan has started off with a bang as most people expected sluggish volumes and a lack of interest until the end.
News : Oil and gas reserves discoverd in Kohat … Business Recorder.
Telecard to announce its results 2moro.
Dividends : Bosicor : 7.5% Bonus EPS : Rs.0.8
UPPER CAPS : Bosicor / CCBL / Lucky Cement LOWER CAP : CTTL
Market Low : 10,386.52 High : 10,547.64
Market Close : 10,528.82 — 141.30
Read more:breaks
10,387 2006-09-27 19:32:11 The market moved up through its resistance at 10,350 and made a high of 10,403. The next resistance is 10,430 before it heads to 10,500, the 200 DMA. Due to some news about the combined oil and gas reserves of Tal Block increased by 24% to 519mn boe, POL went up and there was some upward movement in OGDC and PPL as well.
News: Sui Northern Gas Pipelines Ltd (SNGP) is due to announce its results 2moro.
Standard Chartered Bank has become the largest bank in Pakistan in terms of paid-up capital… Dawn
Banking sector profits up by 65% … Business Recorder
Dividends : Maple Leaf Cement : (MLCF ) EPS: Nil.
Thal Limited : 20% Bonus + 100% Cash EPS. Rs.33.98
UPPER CAP : Faysal BankLOWER CAP : Callmate Telips
Market Low: 10,305.43 High: 10,403.65
Market Close : 10,387.12 — 81.69 points up
Back to 10,305 2006-09-26 11:48:24 The market dipped down to 10,228 and closed again at 10,305, another close above its 50 DMA. It looks like its heading for 10,350 plus. OGDC held at 124 and closed up. Market volumes were slightly lower at 92.45 million shares traded.
Board meetings for September have been updated.
News : At least two “investors from the financial industry” have shown interest in the acquisition of Crescent Standard Investment Bank Ltd (CSIBL) ….. Dawn.
Dividends :
Murre Brewery : 50% Cash + 10% Bonus EPS : Rs.15.02
UPPER CAP : HUBCO / PIOC
Market Low : 10,228.89 High : 10,310.18
Market Close : 10,305.63 — 53.47 points up
10,253 - Ramzan begins 2006-09-25 15:47:38 The Karachi Stock market re-tested its resistance level of 10,350 and then undertook a correction down to 10,180 closing up at 10,253. It has closed above its 50 DMA and needs to successfully break 10,350 to go up further. OGDC has closed way below its 30 & 50 DMA with low volumes and could drag the market down in the next few sessions. It’s predominantly the banking sector that is experiencing major activity with 31.5 and 29.1 million shares traded for NBP and MCB respectively. Total market turnover today was 128.5 million shares traded.
NEWS: Today is the first day of Ramzan. Market timings have changed to 9.30 - 1pm Monday-Thursday and 9 - 12pm on Friday.
Pakistan Petroleum Ltd (PPL) and Oil and Gas Development Co (OGDC) - two public sector gas companies - have ganged up for Sixth increase in liquefied petroleum gas (LPG) rates from Rs 28,235 to Rs 34,705 per ton from October 16. More details at the Business Recorder.
The price of oil today fell below $60 a barrel
10,306 - breaking out over 10,200 2006-09-23 01:27:10 The market finally broke out of its recent range bound behaviour (9,800-10,200) making a high of 10,346 and closing at 10,306. Now that it has closed above its 30 and 50 DMA , the next resistance is 10,350 and 10,480. The last time it closed above 10,306 was a month ago.Volumes were substantially higher at 238.9 million shares traded. MCB has gone up over Rs.25 in the last 2 days and all banks are currently hot.
News: The Karachi Stock Exchange might be closed for trading on Monday 25th September as it could be a holiday for the first day of Ramzan.
SECP approves six Modarabas …. Business Recorder.
Maple Leaf Cement will anounce its results on Monday if the market is open.
UPPER CAP : CTTL / PIOC / SSGC
Market Low : 10,155.1 High : 10,346.53
Market Close : 10,306.75 — 151.65 points up.
KSE 100 index recomposed on October 2nd 2006-09-21 17:59:17 The KSE 100 index has been recomposed and will include 3 new companies, Meezan Bank Limited, Kohat Cement Company Limited and Pakistan International Container Terminal Limited from October
2nd 2006. The three companies that have been excluded are Kohinoor Textile Mills Limited, Nishat (Chunian) Limited and Telecard Limited.
The following is a list of the companies that compose the new KSE 100 index :
CLOSE - END MUTUAL FUNDS
PICIC Growth FundPICIC Investment Fund
MODARABA
Fayzan Manufacturing Modaraba
LEASING COMPANIES
Orix Leasing
INVESTMENT BANK/INVESTMENT COMPANIES./SEC COMPANIES
Arif Habib Securities LimitedJahangir Siddiqui & Co LimitedPICIC
COMMERCIAL BANKS
Allied Bank LimitedAskari Commercial Bank LtdBank AL Habib LimitedBank Alfalah LimitedBank of PunjabFaysal Bank LimitedMeezan Bank LimitedMetropolitan Bank LimitedNIB Bank LimitedMCB Bank LimitedNational Bank of Pakistan LtdPICIC Commercial Bank LtdPrime Commercial Bank LimitedSaudi Pak Commercial Bank LtdS
10,157 - Short selling ban to lift in November futures 2006-09-21 17:29:15 The last time the market closed at 10,157 on the news of the CFS cap being increased to Rs.55 million, the next day it closed below 10k and spiralled downwards (13th Sept.) Today was another day of upward movement with a much bigger turnover of shares traded (152.3 million ) than in the last few days. The KSE-100 index has to break 10,200 successfully for the market to breakout and move upwards out of its current 9,800 - 10,200 range.
News : Shortselling
will be allowed for the November
future contracts provided the SECP’s new requirements made to the KATS.The SECP blame the KSE for the continuation of the ban on short sales as the KSE has shown its inability to bring about the required changes in the KATS to allow short selling under the new system based on a free float limit.
Dividends : Millat Tractors : 20% Bonus + 100% Cash . EPS Rs.46.78
UPPER CAP : BAFL / CCBL / PIOC
Market Low: 10,032.57 High: 10,158.86
Market Close : 10,157.95 — 125.38 poi Read more:futures
, Short selling
11,528 - Short selling begins again 2006-10-30 11:45:35 The Karachi Stock market opened on a high note after a closure of 11 days due to Eid. It made a high of 11,635 and then dipped down to 11,434. Today is the first time since the middle of June that short selling
has been allowed, a reality check for this market. While the market looks firm and there is a lot of noise about it testing its previous 12,300 + high once again, don’t discount a possiblity of a correction down to 11k. RSI levels are very high and the market is overbought, especially OGDC and NBP. Cements have taken a good bashing.The next upward resistance levels are 11,630 and 11,700.
News : The Cabinet Committee on Privatisation (CCoP), is scheduled to meet on Monday, and will approve the Privatisation Commission’s (PC) plan to float Global Depository Receipts (GDRs) of National Bank of Pakistan (NBP)…. Business Recorder
Dividends : OGDC :FINANCIAL RESULT FOR THE FIRST QUARTER ENDED 3O/O9/2OO6 = 17.5% Cash. EPS : Rs.2.87PROFIT BEFORE TAXATION RS. IN Read more:Short
, Short selling
11,327 - correction time 2006-10-31 12:46:27 As expected yesterday,the KSE-100 index experienced a correction
today and closed 200 points down at 11,327. The market had no juice to go up beyond its previous close and further corrections seem likely as its still overbought and some of the corporate results are fucking terrible.
Oil related stocks are getting a bashing as the price of oil was much higher in the last quarter than it is now. OGDC could go down to 145, taking the index down with it and PSO has been badly fucked by its result (EPS Rs.3) and down Rs.24 (7.4%) since yesterday morning. The next index resistance level down is 11,200 and upside will continue on a close above 11,600.
News : The Board of Directors of the Karachi Stock Exchange (KSE) has approved the VAR (value at risk) - the new risk management system that is going to be implemented from November 6…. Business Recorder
The Karachi Stock Exchange (KSE) has set December 31, 2006, for demutualization of the exchange as part of reform process and t
11,000 index holds 2006-11-01 12:20:27 Further corrections took place at the Karachi Stock market today and the index was bashed down to 10,933 at its low and then closed at 11,011. Once again there was no upward movement from the previous close when the market opened. All major stocks took a good whacking with OGDC down Rs.6.5 , PSO down Rs.15 , PPL down Rs.10.45 , NBP down Rs.10.5 and POL down Rs.14.55. The long overdue correction has taken place with the market correcting 550 points (4.7%) since its high close on Oct.19th. Now it remains to be seen whether the market has the juice to re-test its recent high of 11,600 or remain rangebound here, or lower.
News : The Karachi Stock Exchange (KSE) is going to implement the new risk management system from November 6, 2006 that includes changes in ready market, CFS market and future market. A detailed explanation at the Business Recorder
Pakistan Petroleum and Shell will jointly launch an oil exploration venture from the ocean with an amount of $50 million….. Geo News Read more:holds
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