Volumes as little as 2.03 million traded in Karachi stock exchange 15% stocks closed positive 21 % negative while handsome 63% stocks remained unchanged.

Foreigners purchased surprisingly 36% and were not able to sell. CFS investment is down again 6% to new low level of 13.32 Billion rupees with annual average rate of 64.77%.

 

Technically market is maintaining its strong bearish downward trend.

 

Recommendation: Sell as unfortunately you don’t have the permission to short!

 

Internationally Stocks tumble as street worries about financials; Oil and Gold going north.

 

KSE Watch: 

• Redemption from Equity Market Funds has been suspended by SECP and MUFAP.
• Shaaukat  Tareen to be the new Finance Minister. Geo - Atleast we have Shaakuat back :) 

Board meetings: 

7^th October, 2008

• S.G. Fibre Ltd
• S.G. Power Ltd
• Gulshan Spinning Mills Ltd
• Colony Mills Ltd
• Paramount Spinning Mills Ltd
• Transmission Engineering Industries Limited