29 September, 2008

KSE made history with lowest ever volumes as only 1.668 million shares traded. Foreigners bought 14% and sold 0.1% in such grim activity. No CFS market was today and CFS value stands at 15.411 billion rupees with annualized rate of 37.51%

 

Technically market is maintaining its strong bearish downward trend.

 

Recomendation : Sideline 

 

Internationally stocks are not impressed with USD 700 billion package. Investors are also waiting on a planned House vote on an unpopular $700 billion plan to rescue troubled financial companies. Oil prices sank more than $5 to almost $101 a barrel Monday on concerns that economic growth will slow across the globe despite a tentative agreement in Washington on a $700 billion bailout package to stabilize the U.S. financial system.

 

KSE calander: 

• KSE board meeting tomorrow to discuss current market situation.

Board meetings: 

 

30^th  september, 2008

• Meezan Islamic Income Fund
• Sazger Engineering Works Ltd
• Pakistan Income Fund
• Zephyr Textiles Ltd
• Pak-Gulf Leasing Co. Ltd

 

Rumors:  

• Membership Card prices have fallen like nine pins.