14,816 - more correction

14,816The KSE-100 index made a high of 14,970 and then undertook a much needed correction down to 14,740. It recovered to close down at 14,816. Voulmes were considerably lower at 144 million shares traded. Bank Alfalah was the top volume stock traded today.

News : Dubai-based private equity company Abraaj Capital said on Monday it bought into Pakistani energy firm Bosicor to tap growing demand for petroleum products in the world’s sixth most-populous nation.Abraaj acquired 40 percent in each of Bosicor Oil Pakistan Ltd and Bosicor Chemical Pakistan Ltd to finance construction of a chemical plant and refining unit, …The transaction included a minority stake in Bosicor Pakistan Ltd, which operates Pakistan’s fifth-largest oil refinery, Abraaj said, without being more specific… Aaj News

The National Clearing Company of Pakistan Limited (NCCPL) is going to announce the day-to-day volume of Foreign Portfolio Investments (FPIs) at the local bourses from March 05, 2008. The SCRA balances do not disclose to-the-point investment and divestment in the share markets made by non-residents…These announcements would be made after closing of markets in the evening at NCCPL websites so that the investors would be having actual figures of FPIs and take their own decisions… The News

After the implementation of futures contracts at the Karachi Stock Exchange now sector wise indices will be introduced in the local bourse.Managing Director KSE, Adnan Afridi  said sector wise indices will be introduced in the next three to four months for those investors who want to trade in particular sectors… The News

Upper Cap : Azgard Nine / JSCL
Lower Cap : MCB Bank

Market Low : 14,740.12 High : 14,970.51

Market Close : 14,816.50 — 117.80 points down

source: karachistockmarket.blogsome.com

Filed under Daily Market News, KSE & SECP News, KSE Stocks



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