Karachi Stock Exchange News

KSE index breaks 6900 level
KARACHI (February 03 2005): The stock market for the second consecutive session recorded handsome gains despite the fact that the State Bank of Pakistan raised the cut-off yield on six month treasury bills on Wednesday. The KSE-100 index recorded an increase of 80.60 points, or 1.17 percent, to 6949.88 as compared with 6869.28. The volume rose to 562 million shares as against 554 million shares.

The share market opened on dull note, but the buying spree from the all corner ignited the share prices, and the rally staged in the banking, telecom and gas sectors. Telecom and gas sectors recorded gains on back of fundamentals changes, and reports that PTCL has installed more than 50,000 lines in the country. While gas scrips especially the OGDC showed tremendous gain, rising by Rs 1.70 helped the index comfortably breach the 6900 level.

Banking scrips were up as investors healthy profit numbers from the lenders. The banks would start releasing their full year account by next month. Moreover, continuous rising interest rates to help boost the earnings of the bank sector. Investors mostly took the rise in six-month treasury bills as a positive measure which could increase the earnings of the financial institutions.

An analyst from Elixir Securities, said that the day started off with the oil stocks gaining on the back of the oil price increase with PSO, POL, OGDC and PPL marching upwards. OGDC gained 2 percent on a volume of 112 million shares giving the index an early boost after which PTCl rallied in the later half of the day to hit an intra-day high of Rs 64.15. Initial selling-pressure had pushed the telecom giant to a day's low of Rs 61.2 after which it jumped into activity on strong buying at the lower levels rallying upwards to its intra-day high.

The banking sector was also swarming with activity as it was MCB's turn to lead the sector after profit-taking eroded some of Tuesday's gains in NBP and ACBL. The MCB gained 5.9 percent to close at Rs 73.8 after making an intra-day high of Rs 74.8, it narrowly missed its upper cap of Rs 74.9. Both the NBP and the ACBL closed lower on profit-taking as they ended the day at Rs 101.4 and Rs 106.65, respectively.

Tariq Hussain Khan, from Atlas Investment Bank, said despite an increase of 54 basis points in six-month T-bills yield, the market ended at a strong note as investors built positions in blue chip stocks at every level.

The increase in domestic oil prices coupled with positive sentiments derived from the huge credit disbursement to farmers were the major contributing factors as institutional investors entered the rings with an aggressive buying strategy, he added.

The market's heavyweight, OGDCL, remained on the rise, which pushed the market up during the day.

Gainers outnumbered losers as 191 stocks gained, while 165 companies remained negative towards the end.

Ahmed Ashraf Sheikh from Akbarally Cassim, said the badla increased by 430 million rupees, as there was major badla increase in DG Khan Cement by 10 percent as weak-holders expect the cement sector in general and the company in particular to perform in the next few days. The badla in Fauji Fertiliser Bin Qasim reduced by 7 percent as weak-holders continue to offload their holdings, he added.

PTCL gained Rs 1.05 to Rs 63.25 on a turnover of 126 million shares, PGDC moved up to Rs 84.30 from Rs 82.60 on a trading of 112 million shares, MCB closed at Rs 73.80, ie higher by Rs 4.10 on a volume of 57 million shares, National Bank of Pakistan dropped by Rs 1.60 to Rs 101.40 on deals of 31 million shares, DG Khan Cement suffered a decline of 85 paisa to Rs 59.15 on a transaction of 29 million shares.

Link - Business Recorder (http://www.brecorder.com/index.php?id=172083&currPageNo=1&query=&search=&term=&supDate=)

7000!

My word, this is just amazing .. the way this index had gone up over the past 2 years is incredible. Its kind of an icon of Pakistans newfound economic progress ... God knows how far this will rise. However there are still those that believe that the KSEs rise is built on shaky foundations and based on the trading of a few large investors who trade amongst each other.

Surely this cant hold true if the growth has been sustained for so long now ... one things for sure the KSE is one of the most interesting markets there is in the world right now.

7000 yet?

its like 6948

I heard KSE is worth 32 billion now?

$32 BN !!

It touched 7000 but came down to 6984 yesterday.

The NYSE US100 Index is worth around 5000 points, KSE 100 Index > 7000

But yeah, certainly one of the most interesting markets in the world today!

incredible

It shot back up 7090 odd today.

It touched 7000 but came down to 6984 yesterday.

The NYSE US100 Index is worth around 5000 points, KSE 100 Index > 7000

But yeah, certainly one of the most interesting markets in the world today!
You obviously do not know anything about stock markets. Just because KSE has more points do not mean it is doing better or is worth more. KSE's capital is nothing compared to NYSE's capital.

Yah!!

You obviously do not know anything about stock markets. Just because KSE has more points do not mean it is doing better or is worth more. KSE's capital is nothing compared to NYSE's capital.


See I know that, and that's the reason why I posted that, as I was surprised to see KSE has more points even though its a "growing" market.

But thanks for bringing that up!

I think no one is suggesting that KSE has got more capital than NYSE!

When analysts say KSE is doing well, it is because KSE is growing more than 20% for the last few years which is remarkable. I guess most of you will agree with me that 20% growth in any sector would be consider as a success story. :)

Check out this graph. then click on DOW and press compare:
http://finance.yahoo.com/q/bc?s=%5EKSE

See I know that, and that's the reason why I posted that, as I was surprised to see KSE has more points even though its a "growing" market.

But thanks for bringing that up!
Oh okay... my bad. :)

Again you cannot compare the NYSE to KSE never no way.

It's the KSE 100 vs the DOW 30 (I think).

100 companies vs 30...of course KSE will be ahead but the DOW is worth more in value. The best performing and most rapidly growing is the KSE so it'll be a while until we reach New York's level! :lol:

Get KSE information from:

BBC (http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/11745/default.stm)

Yahoo! Finance (http://finance.yahoo.com/q?s=%5EKSE)

KARACHI: Amid its recent unbeatable strides, Karachi Stock Exchange today at its pinnacle of glory finally raced through the KSE-100 shares index of 10,000 points as well and thus stamped a yet another record of index leaping by 396 points.

Analysts told that the good news about making significant headway in privatization in the country mainly stimulated the investors, who were seen jostling for buying all that was available in the market taking the index at one point to 10,004.

Another healthy development witnessed in the market today was the contribution of almost all the shares in generating such a powerful push upward. However, oil, gas and cement companies spearheaded the bullish bang as usual.

OGDC remained conspicuous among the prominent companies, which recorded one-day highest jump of Rs.12.30 that alone contributed index surging up by 230 points out of the overall climb of 396 points.

:eek2:

Bring out the ladoo folks!http://forums.pakcafe.com/style_emoticons/default/laughing.gif

This calls for a celebration!!
way to go Pakistan!!
:dance: :dance:

Indeed ... ballae ballae !!! A great achievment ... dedicated to all those who felt the bubble was going to burst a long time ago !! :)

...Yeah but it closed at 9985 something :|

Nonetheless ... 10,000 POINTS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

my bet is it will be bull economy to 15000 points and die down

I wish it another 10,000 points inshallah. Within the next five years.

haha! it went 4 thousand in 1 year so i say 3 years!

KSE crosses more than 10,500 points

New system launched in KSE

KARACHI: Automatic system of Pre-Trade Verification has been implemented in the Karachi Stock Exchange (KSE) from today.

According to KSE officials, all the necessary arrangements have been finalized for the system and, in this context, reviewed the software on experimental basis.

Its viewed that trade volume may be affected due to the news system; however, possibilities of becoming defaulter of any investor or broker would come to an end.

Thanks to new system the investors could not do trading more than their exposure.

http://www.geo.tv/

great news, kse is back on fire.

KSE Index
Current 8529.12
Change 102.35
Volume 156459460



oil prices are also going down and have droped $3 per barrel over last 3 days.

Even if oil prices drop back to $50 a barrel, these SOBs (read OCAC and govt.) will never reduce the petroleum prices - in our country, the prices only go up!

Anyone intrested in business and investment will surely feel proud and happy after the news that karachi stock exchange is currently trading above 12,200 PTS! This is the higest level ever achieved by any of our markets in Pakistan! I am sharing just a little history i know about KSE..

At the end of 2001 KSE was trading at about 1500 pts
At the end of 2002 KSE was trading at nearly at 2500 pts
At the end of 2003 KSE was trading at under 5500 pts
At the end of 2004 KSE got down traded at under 4000 pts
At the end of 2005 (which was proved to be the both worst and best year for the market) KSE in the end of the year was trading at about 9000 pts :runaway:

We are nearly in the mid of this year and KSE has already achieved the phycological barrier of 12000 points and so far going strong to reach much more higher levels and volume in future... :)

Lets keep the Karachi and Other pakistan stock exchanges updated in this thread...

hmmm the last time it crossed 10,000points, the construction industry and real estate was having a boom at that moment! I hope that will have some positive effects onto the construction industry and real estate market that has gone down fer a while!!

http://www.thebusinessonline.com/

Pakistan state oil giant set for float on London stock market

By Richard Orange

20 August 2006


PAKISTAN’s state oil giant is preparing to raise up to $1.5bn (£800m, E1.2bn) on the London Stock Exchange (LSE) in a flotation that could value the company at more than $10bn. Oil and Gas Development Company (OGDC) is likely to announce its plans to the LSE within the next month, The Business understands.

It last week hired public relations company Capital MSL, a division of Publicis, to work alongside its advisers Citigroup and Goldman Sachs.

OGDC is the latest national oil company planning to float in London. Russian state oil giant Rosneft raised $10.6bn in London in July. OGDC will compete neck and neck with Kazakhstan’s Kazmunaigas, which has hired ABN Amro and Credit Suisse to manage a London listing in the coming months. Croatia’s national oil company INA has hired Merrill Lynch to bring it a UK listing – also by the end of this year.

OGDC has gas reserves of more than nine trillion cubic feet, with attractive exploration prospects. A City source said: “Everyone knows this is going to be an incredibly hard sell.

“This is a company based in a fundamentalist, anti-western country, loosely held together by a military dictator. They’ve got huge gas reserves, but most of them are in Baluchistan.” Pakistan is still fighting a long-running, low-level civil war against separatists in Baluchistan.

Pakistani privatisation minister Zahid Hamid revealed earlier this month that he had pitched the share sale to US and UK investors. The Pakistan government is aiming to float off 15% of OGDC is part of an ambitious privatisation programme aimed at cutting $35bn in debt.

The Business understands that at least 10% of the company will be sold on the London market, given the greater regulatory obstacles in the US.

Two years ago the Pakistan government hired Merrill Lynch to to sell strategic stake in OGDC to a western oil company, but the sale was eventually pulled in favour of a share offering.

Pakistan Stocks Rise to 12-Month High: World's Biggest Mover
By Haris Zamir

April 18 (Bloomberg) -- Pakistan stocks rose to a 12-month high, posting the biggest gains among markets included in global benchmarks. Oil and Gas Development Co., the nation's biggest energy explorer, led gains after announcing a new find.

National Bank of Pakistan Ltd., the country's No. 1 lender, climbed after announcing plans to expand into China, the world's fastest-growing major economy.

The Karachi Stock Exchange 100 Index added 185.72 points, or 1.6 percent, to 12,189.29. That's the highest close since it reached a record 12,273.82 on April 17 last year.

``Overseas fund houses interest in banking and oil stocks boosted the market,'' said Habib ur Rehman, who oversees 5 billion rupees ($83 million) as chief executive officer of Atlas Asset Management Co. in Karachi. The nation's improving economy is helping draw funds from abroad, he said.

Foreign investment in Pakistan stocks totaled $681 million in the eight months ended Feb. 28, up from $471 million a year earlier, according to data posted on the State Bank of Pakistan's Web site. Pakistan's economic growth may accelerate to as much as 7.5 percent in the year ending June 30, exceeding government forecasts, as countrywide rains improve farm production, Merrill Lynch & Co. forecast April 12.

Oil and Gas Development climbed 4.35 rupees, or 3.5 percent, to 124.35, accounting for about two-fifths of the benchmark's gain today. It found deposits at Sanghar in the nation's eastern region that will produce 1,600 barrels of oil and 4.14 million cubic feet of gas a day, the Islamabad-based company said today in a notice to the Karachi Stock Exchange.

Expansion Plans

National Bank of Pakistan rose 6.40 rupees, or 2.6 percent, to 250.80 rupees. The lender plans to expand into China and is seeking a partner from the Middle East to set up a bank or financial company there next year, President Syed Ali Raza said in an interview in Karachi.

Raza wants to use Pakistan's location at the crossroads of Asia to tap expanding business links across the region. China and Pakistan signed a free-trade agreement in November, aimed at increasing commerce and investment between the nations which share a border.

Elsewhere, National Refinery Ltd., Pakistan's second- biggest oil processor, jumped 13.90 rupees, or 5 percent, to 292.40 rupees. It's surged 24 percent in the past nine days of trading.

The company yesterday reported net income increased to 1.28 billion rupees ($21 million) in the three months ended March 31 from 217.4 million rupees a year earlier. Pakistan Petroleum Ltd., the nation's biggest gas producer, rose 7.85 rupees, or 3 percent, to 265.90 rupees today.

To contact the reporter on this story:
Haris Zamir in Karachi, Pakistan at hzamir@bloomberg.net
Last Updated: April 18, 2007 06:56 EDT

Source: http://www.bloomberg.com/apps/news?pid=20601084&sid=aeUwTkDotXjo&refer=stocks

BBC Market Watch
KSE 100 - 12144.26, +81.64 pts, 0.68 % change





http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/11745/default.stm

Who here, is invested in the KSE?

We have shares in OGDC...

Who here, is invested in the KSE?
I did. Haven't checked the account in about 2 years.

I did. Haven't checked the account in about 2 years.

I hope you bought shares in OGDC?!?! If you bought shares in OGDC 2 years ago then you should REALLY check your account!

Who bought OGDC shares is livin' the high life right about now. Banking sector looks quite nice too.

BRIndex-30 15,404.45
KSE-30 Index 17,162.45
KSE-100 Index 14,202.23

BRIndex-30 15,404.45
KSE-30 Index 17,162.45
KSE-100 Index 14,202.23


I wonder what measures or indicators are used for upward and downward prices of shares.

http://www.geo.tv/news_images/urdu/8-9-2007_15670_1.gif

That emergency rumour really pulled the index down...

KARACHI, Aug 9: A sample of 10 small investors and punters interviewed at the Karachi Stock Exchange on Thursday revealed two things that were common to many.

The first that all had panic written large over their faces and the other that none of them had the faintest idea of what ‘emergency’ meant and if and how, if imposed, it would impact the stock market.

Yet they scrambled to sell and initially the KSE-100 index pierced past the floor showing the largest ever intra-day decline of 617 points.

The overwhelming concern of those investors seemed to be the fear that foreign investors would stampede out of the market with flurry of sell orders. That apparently did not happen. At least for the day, foreign investors, who now hold aggregate portfolio of $4 billion, which accounts for 7 per cent of the market capitalisation and 28 per cent of the free float in the country’s main equity market, did not act like a ‘panic prone herd’.

Mohammad Sohail, Director Equity Broking and Research at JS Global says: “Foreigners were not net sellers”. He thought that foreign investors do not mix economics with politics. And as long as economic fundamentals were strong, all that they would do was to raise slightly the political risk perception.

It could not be ignored that Pakistani stocks were trading at attractive multiple of 10 times forward earnings, compared to the regional average of 14 times. Other investment houses who have large overseas clientele agreed but did not want to be named.

Nadeem Naqvi, CEO at AKD Securities, said he could speak for his house, which showed a net, net zero position. He contended that if the foreigners sold, they also bought at dips, which reflected in 100 million more shares traded on Thursday i.e. 263 million shares compared to 177 million shares which changing hands a day earlier.

Another fund manager said that most of the local funds were sitting on mountain of cash and were almost 50 per cent liquid. He maintained that those would be waiting to pick up value stocks at lower prices.

He, however, observed that a mutual fund backed by the largest commercial bank in the public sector was conspicuous by its heavy selling.

The net loss of 3 per cent or 385 points in the index value during the day looked scarcely to have shaken the confidence of institutions and high net worth investors. But a few veterans did not go along with the bullish lot and looked sullen.

Revisiting the bourse’s history in their mind, they said that an extraordinary event such as imposition of emergency could push the KSE many years backwards. By the afternoon, statements coming out of Islamabad were taken as positive and most major market movers looked determined to put the bourse back on the rails on Friday.

Whether they succeed or see more of losses on Friday, would be interesting to watch.

DUBAI, Aug 27 (Reuters) - State-run Borse Dubai said on Monday it would be interested in acquiring a stake in the Karachi Stock Exchange if and when members of Pakistan's biggest bourse agree to turn it into a company.

Interest in the South Asian exchange "would be part of the general interest for Borse Dubai", Borse Dubai Chairman Essa Kazem told Reuters by telephone.

Borse Dubai, which owns two exchanges in the Gulf Arab emirate, is bidding to take over Nordic exchange operator OMX (OMX.ST: Quote, Profile , Research) for $4 billion - trumping an offer from Nasdaq (NDAQ.O: Quote, Profile , Research) - as part of a strategy to expand in Europe, the Middle East and South Asia.

"We are open to expansion and are looking at any other opportunities," Kazem said, declining to be more specific.

He would not comment on a report in The Daily Telegraph on Monday that the company may buy Nasdaq shares in the London Stock Exchange (LSE.L: Quote, Profile , Research) and then bid jointly with the U.S. company for OMX. [ID:nL27168192]

Pakistan's chief securities regulator, Razi-ur-Rahman Khan, told Reuters last month that OMX and a Dubai exchange were among parties expressing an interest in the Karachi bourse. [ID:nL17797621] He did not identify the Dubai exchange.

Borse Dubai owns Dubai Financial Market Co (DFM.DU: Quote, Profile , Research) and the Dubai International Financial Exchange, which operates according to international regulatory standards.

The KSE said in June it planned to list shares by year-end under a plan requiring members to sell more than half their holding. The exchange may sell more than 10 percent of its stock, Khan said.

"They still have to go through the demutualisation and valuation process, so the structure is not there yet," Kazem said.

Demutualisation separates trading rights from ownership. Deutsche Bank (DBKGn.DE: Quote, Profile , Research) is valuing the exchange.

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=newIssuesNews&storyID=2007-08-27T112921Z_01_L27846812_RTRIDST_0_BORSEDUBAI-PAKISTAN.XML

My only question is - why the hell did they name it Borse instead of Bourse?

^^ spelled in arabic?

^^ spelled in arabic?

:lol:

Lets hope things settle on the political front! Its allways surprising how the international media seem to focus more on troubles Pakistan than say in India.

Trade Online
www.kasbdirect.com

Karachi Stock Exchange 100 index is now at 14700

Wow..It has been rising quite steadily for quite some time.


:banana:

can someone explain to me what points mean here.

i thought its main measurement should be done in currency, by how many shares are brought and sold. i dnt understand what the points are for.

ISLAMABAD: The Islamabad stock market on Monday rises as the ISE-10 index up by 39.36 points to close at 2949.72 points from its previous level of 2909.86 points. Of the total 141 participant companies, 91 climbed upward, 47 turned negative and three remained unchanged. However, total turnover slipped to 2.389 million shares from 2.659 million shares at the opening of the day showing a total decrease of 0.269 million points. GS Global was the top gainer. Its share value was up by Rs18 to close at Rs407 after opening from Rs389. Attock Refinery was the second major gainer. Its share value was increased by Rs12.7 to close at Rs277.7 after opening from Rs265. Pakistan Engineering was the major loser of the day, its share price was declined by Rs17.50 to Rs342.50 from its previous level Rs360. Javed Omer Vohara was the second highest on the negative column.

KARACHI: Share prices trimmed in earlier session invited selective buying in heavy weightage stocks in communication and energy sectors that restored the benchmark KSE-100 share Index above 14,000 points psychological level recovering 134 points to conclude at 14,049 points on Monday.

The 30-Index regained 133 points and finished up the day business at 16,554 points. “A little change in law and order situation towards normalization; calming down of over charged political atmosphere and most importantly the availability of stocks at discount amid lucrative rates invited renewed buying,” an analyst said and added, “investors remained highly cautious and avoided to upload stocks in big lots to remain of safe side.”

The Pakistan Telecommunication Company, and Oil and Gas Development Company have respectively contributed 22 points and 30 points in the total surge of 100-Index. JS Co was another active scrip on board, which added another 18 points in this benchmark.

The remaining participants in green, who were great in number as compared with the losers, included their share in the total raise of index in range of 0.02 points to 9.20 points each. Therefore, the gainers led the rally on board, as 210 companies stocks closed in green against 127 stocks declined into the red column.

Therefore, the value of 40 scrips remained unchanged with total 377 active counters in the broader market. S. Kashif Mustafa of ECL Research observed that investor turned positive on stable market fundamentals. Buying stance was witnessed by market players as stocks of major actives stood at attractive level with liquidity available in the market as CFS stood at Rs48 billion, which is very below to its official cap, making investors able to leverage their positions in blue-chips.

Hasnain Asghar Ali of Aziz Fidahusein has said that value buying witnessed on Friday continued after the initial setback on Monday where consolidation was witnessed in the main stocks amid turnover stayed low, as the rumour polluted arena kept even the seasoned participants on the back foot.

However, constant accumulation tempted the market men to re-enter the market. “If the fragile law and order situation is taken care of the other secondary issues might be ignored on back of earnings euphoria (likely to gain popularity),” Ali added.

E&P sector was the major driver of the index. And oil and gas sector is expected to expand with soaring international oil prices and expected half-yearly results standing in line with estimated earnings, Mustafa commented.

Fertilizer sector depicted attractive growth potential on the back of recent hike in DAP and Urea prices. FFBL, the only producer of DAP in Pakistan, is in undertaking BMR activities in order to expand it’s DAP plant, is expected to be primary beneficiary with handsome growth potential in the medium to long term in near future, he added.

The banking sector is anticipated to perform well on the back of their yearly earnings to be in line with expectations. Also, the banking sector remains in the lead with foreign stake expected to increase in local banks and also recent issuance of commercial license to Barclays Bank in Pakistan.

The day volumes in the ready market stand at 256.095 million shares which are more or less same as of Friday’s turnover recorded at 256.090 million shares. The overall market capitalisation surged by Rs36 billion to Rs4.304 trillion.

Highest volumes were witnessed in JS Value Fund at 23.351 million closing at Rs16.10 with a gain of Re1, followed by PTCL at 15.589 million closing at Rs41 with a gain of 55 paisa, Nimir Ind. Chemical at 15.245 million closing at Rs6.30 with a gain of 85 paisa, NIB Bank at 14.891 million closing at Rs22.95 with a gain of 55 paisa and Arif Habib Securities at 13.022 million closing at Rs169.05 with a gain of Rs8.05.

I think the stock exchange will keep fluctuating around the 14000 mark atleast until the elections. The good news is that most of what was lost has been recovered and the stock market has become more immune to troubles.

I think the stock exchange will keep fluctuating around the 14000 mark atleast until the elections. The good news is that most of what was lost has been recovered and the stock market has become more immune to troubles.

I usually don't say anything bad about someone who has passed away, but Bibi didn't do much for pakistan when she was alive and she has left her curse on it now that she is dead. :ohno:

we would have been well above 15000 if all this didn't happen, millions were lost in the rioting, and things have just plunged downwards.

Foreign investment outflow turns SCRA negative
Updated at Wednesday, January 16, 2008 1845 PST
KARACHI: The outflow of foreign portfolio investment continues in the local capital market.

The SCRA turned negative and stood at (4.96) million dollars on January 14.

According to the State Bank of Pakistan the equities market attracted a total portfolio investment of 2.52 billion dollars during the current financial year but an outflow of 2.53 billion dollars was seen till January 14. This turned the SCRA figures negative in the current fiscal.

It has been noticed that fund managers from USA, Sri Lanka, Oman, Malaysia, Luxemburg, Liberia, Chile and Simon Island have opted to hold their positions while investments by 16 countries including Britain, UAE, Saudi Arab, Qatar and Singapore either turned negative or zero.

Sigh - Why is it that elections and "democratic protests" in Pakistan ruin the country? I mean seriously, I now honestly think a good dictator is much much much more preferable to a weak and corrupt "democratically" elected PM - and unfortunately, all the "democratic" polticians are crooks. Our stock exchange could be soooooo high right now if it weren't for the judiciary mess, terrorists, and the return of BB and NS. Sigh.

KARACHI: FTSE Group deferring its decision of removing Pakistan from its global index and well-adjusted share prices together invited buying on across the board during Friday twin-trading sessions.

KSE 100-share Index made a handsome recovery of 200.50 points or 1.47 per cent and finished up at 14,875 points. Also, its junior partner the 30-Index regained 286 points or 1.76 per cent and concluded at 16,486 points.

“A day earlier major losers were the major gainers of the day where banking sector again led the rally besides energy, cement, telecom and fertilizer sectors also performed in line with the indices movements,” an analyst said.

National Bank, Oil and Gas Development Company, Pak Petroleum, MCB Bank, Pakistan Telecommunication Company, and Standard Chartered Bank contributed highest points in the total surge of 100-Idnex.

Market was lifted back on upward trends for two basic reasons. First, shares prices have declined to lucrative and buying levels and secondly, FTSE, one of leading global index providers, has deferred its decision of removing Pakistan from its global index from June 2008, he added.

During the last two consecutive sessions, the 100-Index had lost more than 380 points that created interest among the investors to repurchase stocks in big lots, another analyst opined. Ahsan Mehanti of Shahzad Chamdia Securities added that market had entered into the oversold zone and buying was definite on dips.
...
cont (http://thenews.jang.com.pk/daily_detail.asp?id=91850)

y Heda Bayron
Hong Kong
21 January 2008


Assassination, riots and bombings hardly make Pakistan an investor's dream. But as VOA's Heda Bayron reports from our Asia News Center in Hong Kong, some stock analysts say Pakistan offers opportunities as well as risk.

A Pakistani stock broker stands before a panel at Karachi Stock Exchange, KSE, in Karachi, Pakistan (file photo)
A Pakistani stock broker stands before a panel at Karachi Stock Exchange, KSE, in Karachi, Pakistan (file photo)
At a time when Western magazine covers call Pakistan the world's most dangerous country, Mark Matthews, Asia stock strategist at the U.S. investment bank Merrill Lynch in Hong Kong, is upbeat about Pakistan. He says Pakistan is his number two favorite market, after Hong Kong.

"When you watch television or pick up a newspaper everything is blood and gore," Matthews said. "When you go to the country and you do your homework, you see that it's a fantastic economy, growing 6.5 to seven percent."

Merrill Lynch said in a recent report that Pakistan is unique, with one of the highest economic growth rates in Asia, cheap stocks and a stock market largely insulated from Wall Street's troubles, which have dragged down Asia's major indexes.

That positive forecast came even after Pakistan's central bank reduced its forecast for economic growth to seven percent or less, from an earlier prediction of 7.2 percent. That move followed the assassination of former Prime Minister Benazir Bhutto and an exodus of foreign stock investors because of months of political protests and militant violence.

The State Bank of Pakistan says portfolio investments - which include stock investments - fell more than 90 percent between July to November last year compared with the same period the previous year.

Matthews says the political factor in Pakistan is "overstated". He says even if another high-ranking political figure is killed, it will not spoil Pakistan's economic growth, which is fueled largely by consumption.

"Basically 99 percent of Pakistanis … aspire for the same things that everybody else does, a mobile phone, a television, a motorcycle," Matthews said. "The one percent or much less who are not like that, well, they will be thorn on the side of the country for some time but it's certainly not enough to derail the strong economic growth or, for that matter, the strong stock market."

Most of Pakistan's 160 million people are poor. But in recent years economists say government reforms have helped pump life into an economy that, in 1999, faced sanctions over the military's nuclear weapons test. Foreign direct investment rose to nearly $4 billion in 2006, from less than a billion in 2003 - helping create new jobs.

The Karachi Stock Exchange rose around 50 percent last year, well above Hong Kong's Hang Seng index's 39 percent increase. Local investors drove stock market growth.

Tariq Choudhry, head of equity sales, at Invisor Securities in Karachi, says it is a tough job convincing foreign investors to put money into the market. But he says one draw is that Pakistan shares are still cheaper than similar stocks in the region.

"With volatility comes price discovery," Choudhry said. "We have seen tremendous growth in the banking sector, we have seen Standard Chartered acquire a local bank, we see Barclays recently acquire a license, we have seen Temasek Holdings of Singapore acquire a local bank."

Stock analysts say investing in Pakistan has its upside, if investors can bear the risks. Aside from the political uncertainty, Pakistan faces creeping inflation and a widening government deficit. Elections are scheduled for next month, and with a new government could come economic policy changes too.

Bears tighten grip on KSE

KARACHI, Pakistan (January 25 2008): The KSE-100 index on Thursday declined by 67.87 points to close at 13,719.16 points level amidst thin volume due to declining oil prices in the international market and prevailing uncertainty over foreign capital market performance.

Similarly, the free float market capitalisation-based KSE-30 index lost 82.44 points and settled at 16,324.99 points level. The market started on a positive note and the KSE-100 index hit 13,836.57 points intra-day high level. However, the selling pressure dropped the index into negative zone.

The index managed to enter in positive zone once again on the back of buying in some select stocks, but could not sustain that level due to profit-taking and again dropped in negative zone to hit 13,692.87 points intra-day low level.

Dull trading activity shows the lack of interest of the market participants as the ready market volume declined by 83.344 million shares to 185.823 million shares as compared to 269.167 million shares traded a day earlier. The futures market turnover has increased by 6.626 million shares to 58.774 million shares against 52.148 million shares on Wednesday.

The overall market capitalization declined by Rs 23 billion to Rs 4.211 trillion against Rs 4.234 trillion recorded on Wednesday. Trading took place in 354 scrips, out of which 203 closed in negative and 113 closed in positivem while the value of 38 scrips remained unchanged.

Arif Habib Sec was the overall volume leader with 23.887 million shares, however, the scrip declined by Rs 3.20 to close at Rs 175.30. NIB Bank closed at Rs 22.05 without any change with 15.540 million shares. BoP and Bankislami Pak lost paisa 45 and paisa 80 to close at Rs 93.10 and Rs 19.35 respectively.

Netsol Technologies performed well and surged by Rs 6.20 to close at Rs 133.50 with a total volume of 8.686 million shares. Azgard Nine closed at Rs 51.50 without any change.

Pervez Ahmed declined by Rs 1.15 to close at Rs 59.20. TRG Pakistan lost paisa 35 to lose at Rs 12.40. Bosicor Pakistan decreased by paisa 45 to close at Rs 20.70. The E&P giant, OGDC declined by paisa 50 to close at Rs 118.00.

Rafhan Maize and Adamjee Insurance were the highest gainers and gained Rs 115.00 and Rs 17.85 to close at Rs 2,520.00 and Rs 384.85 respectively, while Jahangir Siddiqui Co and Arif Habib Limited were the highest losers and lost Rs 21.20 and Rs 18.90 to close at Rs 1,175.00 and Rs 359.65 respectively.

Ahsan Mehanti at Shehzad Chamdia Securities said that uncertainty over political and law and order situation of the country kept the market participants sidelined and they avoided taking fresh positions.

The declining oil prices to $87 per barrel in the international market invited selling to the relevant stocks. On the other hand, uncertainty over foreign capital market's performance was another reason, which encouraged the market participants to offload their holdings on available margins.

Copyright Business Recorder, 2008
http://www.brecorder.com/index.php?id=683965&currPageNo=1&query=&search=&term=&supDate=

^^ Lets hope that favorable elections results next month would make the KSE bullish again, Inshallah.

http://newsimg.bbc.co.uk/media/images/44323000/jpg/_44323576_karachi_stck_203.jpg

Regardless of whatever happens in Pakistan, the KSE rebounds within 24 hours, it's quite remarkable how the KSE keeps on rising even with all the political tension.

I guess they were right when the called KSE the best performing market since 2000.

It's good news. Just buy a lotta shares, and watch your money grow in a few months. KSE falling = good news, not bad.

KARACHI: Transformation of the Karachi Stock Exchange (KSE) to a shareholder owned for-profit entity from a not-for-profit concern limited by guarantee would greatly benefit investors and the general public as they will be able to buy and sell shares of the exchange.

President Pervez Musharraf will sign the Stock Exchanges Corporatisation, Demutualisation and Integration Ordinance, 2007 within ten days. The caretaker cabinet at a meeting on January 22, 2008 approved the draft of the ordinance.

A spokesman of KSE on Friday said demutualisation ordinance is a significant milestone for the stock exchanges of Pakistan, in particular, for the Karachi Stock Exchange (KSE), which is the largest and premier stock exchange of the country with 652 companies listed, a market capitalization of Rs 4234.05 billion as of January 24, 2008.

The Demutualisation ordinance provides for the 40 percent of the shares to be retained by existing members, 20 to be issued to the general public through an IPO and the remaining 40 to be sold to a set of strategic international investors.

The benefits of demutualisation and corporatisation included allowing the exchange to partner with a strategic international investor who is recognized as a market leader in offering a fair, transparent and efficient securities market.

This will allow the exchange to benefit from a transfer of technology and products that are yet to be introduced in Pakistan’s ‘nascent’ capital markets. Besides the involvement of a global strategic investor will help add credibility to the Pakistani capital markets-thereby facilitating the entrance of new participants into the market.

Better technology, access to better training, funds and staff will allow the KSE to be more competitive in the financial services market by introducing innovative new products and services that already exist in the developed markets, where the strategic investor is based.

A demutualised exchange would ensure that the exchange would not work in the interest of members only, but for all market participants and remove any doubts amongst critics.

It would enable the exchange to raise capital that would allow the exchange to expand and improve its operations and a public exchange would increase transparency and improve the image of the exchange.

There are approximately twenty demutualised exchanges in the world representing advanced capital markets.

What exactly is demutualization

KARACHI: Bullish trend prevailed on the Karachi Stock Exchange (KSE) once again after a long time as it reported a gain of 128.63 points.

The 100-price index surpassed the psychological barrier of 14,000 point once again.

Today the 100-price index moved to 14,009.11 points from yesterday's 13,880.48 points.

Similarly, the 30-index reported a net gain of 179.29 points, taking the 30-index to 16,657.16 from yesterday's 16,477.77 points.

The stock analysts welcomed the 100-price index as it again crossed the 14,000 points barrier.

Last time it surpassed the 14,000 points barrier on Jan 15 when it attained the figures of 14,055.27 and since then the pendulum had been swinging around, mostly faltering.


http://thepost.com.pk/BizNews.aspx?dtlid=141672&catid=7

KARACHI: Karachi stock market during the outgoing week was dominated by the bullish sentiment as the KSE-100 index remained at higher level on the back of growing investors confidence in the market ahead of general elections coupled with continuation of institutional buying on post-elections positive expectations and increase in oil prices above $95 levels in international market.

Bilal Hameed, analyst at J.S. Research said the negative sentiments amongst investors finally took a u-turn during the week as the KSE-100 index gained 3 percent (416 points) to close at seven-week higher levels of 14,354 points. Overall volume in ready market improved sharply during the week as they stood at 260 million shares (Rs 27.4 billion) up by healthy 87 percent when compared to the previous week’s 138.5 million shares.

Investors happy with the political developments: The increase in political activities and improved law and order situation during the week brought back the investors’ confidence. Moreover, expectation of a likely partnership between the winning political party of the February 18, 2008 elections with President Pervez Musharraf also supported the market. During the week, GDR talks of NBP, KAPCO and HBL also supported the market.

Results season and oil price increase: Some important companies announced their results during the outgoing week including PSO, MCB, UBL and HUBCO. Better results and payouts in the banking sector caused buying in the banking scrips. Thus, the sector’s market capitalisation rose by 4.2 percent WoW. Similarly, PSO results announced on Friday also improved investors’ confidence in the scrip as it posted healthy 1HFY08 results. In addition, oil prices improved in the international market creating a rally in the E&P sector. The sector, on WoW basis, rose by 4 percent.

CFS investment increases to Rs 52.6bn: The week saw CFS investment rising by 4.4 percent to stand at Rs 52.6 billion while, average CFS rate jumped by 12bps to 10.92 percent. Open interest has decreased to Rs 7.2 billion. Combined official leverage position of the market has reached Rs 59.9 billion, representing 1.35 percent of market cap and 5.2 percent of the free float. The market performance was better this week as the KSE-100 index closed at 14353.84 points with a gain of 415.51 points. KSE 30 index closed at 17295.97 with a gain of 594.65 points. Trading activity was better this week as compared to the previous week, as the average ready market volume stood at 259.497 million shares compared to 136.798 million shares.

Optimistic investors push KSE to all-time high

Banking, cement, telecom scrips lead the rally, oil and energy sectors witness profit-taking

Thursday, February 21, 2008
By Salman Siddiqui

KARACHI: As expected the Karachi bourse benchmark KSE 100-share Index surged to all time high at 14,830 points on Wednesday inching above its previous peak level of 14,815 points recorded on December 26, 2007.:banana:

http://thenews.jang.com.pk/daily_detail.asp?id=97349

Yeah. There wasn't any bloodshed after the elections as was expected, nor did the Mullahs get hold of Pakistan (which wasn't possible, but still). So the traders are optimistic.

KSE market capitalisation up by Rs183b after election

IRFAN MALIK
KARACHI - Karachi Stock Exchange (KSE) market capitalization has soared by Rs183 billion or US$ 4.39 billion in just three days after the general election.
The ready market volumes grew by 105.34 million shares to 397.79 million shares on Feb 21, 2008 as compared to 292.36 million shares recorded before the general election on Feb.15, 2008.
On the back of free and fair election the equity market reacted positively and benchmark KSE-100 index jumped up by 443 points on the very next day of the election and since the election market index made a new record of 14.971 points on Thursday. The KSE-100 index rose by 618 points on Feb.21 as compared to the last trading day before election on Feb.15, 2008.
The ready market volumes on Feb.20 declined by 14.29 million shares and stood at 359.15 million shares as compared to 373.44 million shares recorded on day earlier. However, on Feb.8, 2008 the average daily volume in ready and future markets were recorded at 138mn shares (Rs14bn) & 19mn shares (Rs4bn), respectively
It was disappointing average daily volumes, the lowest for nearly 46 weeks, and cautious investor sentiment in the run up to elections weighed heavily throughout the week forcing the market to close on a negative note. Analysts attributed the current boom on the stock market with the holding of peaceful election process and acceptance of the election results from all elite political leaders of the main political parties of the country.
With the elections passing peacefully the confidence of foreign and local investor has raised and led the wave of buying spree on the stock market, analysts said.
“While the market sentiment is positive at the moment there could be instability in the coming weeks with the political situation, while the future course of action will be determined by the economic policies of political parties who manage to grab the powers, but there is no doubt over the continuity of the economic policies which introduced by the previous government,” analysts said.
A correction is due as the market is up by around more than 600 points since the holding of election, and it could well come next week, analysts said.
“In upcoming days market index may fall by more than 500 points,” analysts said. Analysts said that alliance government of PPP, PML (Q), ANP and MQM would be slightly better for the stock market, comparing the PML-N and PPP alliance government because presence of PML-Q and MQM in the coalition government will make sure the continuity of the Musharraf economic policies in future.

http://nation.com.pk/daily/feb-2008/22/bnews1.php

Lets hope its not short-lived.

KARACHI: After witnessing a straight surge of 1,095 points or approximately eight per cent in the last eight consecutive bull-run sessions, the Karachi bourse recorded a modest technical correction of 33 points on Monday.

KSE 100-share Index posted a moderate fall of 33 points (i.e. 0.22 per cent) and closed at 14,948 points. On the contrary, the parallel running junior 30-Index continued to move forward and again gained another 27 points fresh to finish at 18,414 points.

Market opened with extended gains and briefly crossed 15,100 points for the first time in the first half of session. After touching 15,140 points intra-day high, the leading benchmark 100-Index started gradually falling down and eventually entered into the red region just before the closing bell rang.

This leading index dipped to 14,939 never fell bellow 14,900 points level during the day, but went as low as 14,939 points in the closing hour.However, the free-float market capitalisation based the 30-Index managed to stay in green territory throughout the session.

The banking sector led the rally but Standard Chartered Bank acted negatively contributing 19.17 minus points in 100-Index. Besides 59 per cent companies in 100-Index closed in negative column against 30 per cent stocks managed to maintain in positive column, calculated a dealer.

Ahsan Mehanti, CEO of Shahzad Chamdia Securities said that optimistic investors went booking profits in the overbought market amid indulging market into the consolidation phase before going beyond 15,000 points psychological level successfully.

He linked the making and breaking of the next political government and its relations with President Musharraf with the local bourse and added that the deteriorating law and order situation can play its part also in the red region.

Live Securities reported that marginal trading activity was witnessed across the bourse as the trading volume portrayed a decline of 39.94 million shares in the ready market to 273.14 million shares versus 313.1 million shares recorded on Friday.

It is pertinent to note that CFS rates continue to climb up to reach 11.22 per cent. On the other side, SCRA balance has entered into the positive zone after a net inflow of over US$109 million to US$77.68mn during the just ended week, it added.

Accordingly, the overall market capitalisation declined by Rs10 billion to stand at Rs4.598 trillion. S. Kashif Mustaf of ECL Research observed that blue-chip stocks i.e. NBP, HBL and MCB witnessed healthy gains with decent volumes to keep the banking sector into the green zone. On the flipside, second and third tier stocks saw some profit taking sentiments of the market players. The sector is expected to remain in the driving seat with the sector anticipated to attract foreign portfolio investment backed by increase in investments in capital markets and governments securities.

OMC sector remained another segment, which provided some consolidation, with the actives of PSO and Shell contributing with decent gains. Overall the oil and gas sector have shown considerable upside potential with major oil exploration companies like OGDC, PPL and POL expected to perform well on the bourses in medium to long-term perspective, he added.

The cement, telecom and fertilizer sectors, however, remained in red region, as giant Engro Chemical, Fauji Fertilizer Bain Qasim, Lucky Cement, DG Khan Cement and Pakistan Telecommunication Company closed in red on profit booking.

The advance to decline ratio remained in favor of the bears with 218 companies closing positive against 126 companies remaining amongst the decliners. Therefore, the value of 39 stocks remained unchanged with total 383 active counters on board.

Highest volumes were witnessed in National Bank at 30.300 million closing at Rs268 with a gain of Rs6.25, followed by Nishat Mills at 15.784 million closing at Rs109.50 with a gain of Rs2.15, DG Khan Cement at 15.412 million closing at Rs108.50 with a gain of 7.30, Oil and Gas Development Company at 13.707 million closing at Rs129.25 with a loss of 65 paisa and Arif Habib Securities at 11.939 million closing at Rs181.95 with a loss of Rs2.65.

Updated at: 2135 PST, Tuesday, February 26, 2008
KARACHI: Bulls at the Karachi Stock Exchange finally pushed the benchmark KSE-100 Index over the 15,000 level on Tuesday.

The major Index gained 109 points to finish at 15,056 - its highest close ever in the history of the country’s exchange.:banana::banana:

Early buying gave the stocks a positive start and the trend remained firm throughout the day. The total market turnover stood at 266 million shares.

DG Khan Cement witnessed maximum activity in terms of volume which advanced by Rs3.75 to close at Rs112.25. Lucky Cement was stronger by Rs3.95 at Rs131.70 and Nishat Mills up by Rs5.45 at Rs114.95.

KSE-30 Index registered an increase of 209 points to peg at 18623.

-The News

Great news. :banana: :banana: :banana:

It has come such a long way. Used to be around the 1,500 mark in 1998 and dropped to 1200 mark after the nuclear detonations.

I am sure trappy will find us the exact points KSE was trading when mush took over.

Trappy?

KSE 100 Index in 1999: ~ 1800 pts

KSE 100 Index in 2007: ~ 14600 pts (8.1 times greater than 1999 - 810% increase!!)

http://techlahore.wordpress.com/2007/12/20/the-meteoric-rise-of-pakistan%E2%80%99s-economy/

Good going Trappy!

:okay:

Zardari’s statement on building working relationship with Prsident Musharaff embolden foreign funds retail investors to extend positions

Wednesday, February 27, 2008
By Salman Siddiqui

http://thenews.jang.com.pk/daily_detail.asp?id=98416
http://www.historickarachi.com/images/Karachi%20Stock%20Exchange%202.jpg

Updated at: 1755 PST, Thursday, February 28, 2008
KARACHI: The local capital market Thursday turned bullish again and closed at a new record level of 15080, registering a gain of 60 points.

The market opened positive and the bullish trend continued throughout the day, as investors took particular interest banking sector on announcement of impressive financial results.

Fauji Fertilizer Bin Qasim registered highest trade volume which advanced by Rs1.45 to close at Rs44.80. Bank Alfalah was stronger by paisas 90 at Rs62.25 and National Bank expensive by Rs4.65 at Rs272.90.

KSE-30 Index registered an increase of 63 points to finish at 18644.

The market analysts forecast resistance at the level of 15100 points.

- The News

Updated at: 1930 PST, Friday, February 29, 2008
KARACHI: Profit taking was witnessed at Karachi Stock Exchange on Friday, eroding 144 points from the benchmark KSE-100 Index which pegged at 14934, below 15000 level.

Early buying in the market pushed the Index to 15146 points but the gains were taken away later as investors opted for booking profits at higher levels, mostly by selling stocks of banking and E&P sectors.

Fauji Fertilizer Bin Qasim was the volume leader which gained paisas 65 to close at Rs45.45. Bank of Punjab shed Rs5.25 at Rs100.25 and Arif Habib Securities advanced by paisas 70 at Rs184.

KSE-30 Index registered a decline of 277 points to finish at 18367.

The correction may continue in the market in the next week, said market analysts.

-The News

Updated at: 1755 PST, Tuesday, March 04, 2008
KARACHI: Bears made their way to the Karachi Stock Exchange Tuesday, eroding 77 points from the benchmark KSE-100 Index which close at 14739.

The trade began with a positive mood but later news of bomb blasts in Lahore triggered selling pressure in the market, pulling it down to finish in the red territory.

MCB was the volume leader which registered a gain of Rs6.75 to close at Rs406.50. Bosicor Refinery dipped by paisas 20 at Rs20.20 and Lucky Cement inched up by paisas 40 at Rs128.65.

KSE-30 Index lost 77 points to peg at 17997.

The market analysts speculate short recovery in the coming sessions.

- The News

Updated at: 1550 PST, Wednesday, March 05, 2008
KARACHI: Karachi Stock Exchange (KSE) today remained buoyant all through the day after bouncing back from the previous two-day in a row lackluster trading.

The market opening here on a positive note remained dynamic and vibrant throughout the trading session and the benchmark KSE 100-index on one occasion was seen mounted to 14973, however, the trading today finally wrapped up at 14958, recoding a robust gain by 222 points.

Volume leader OGDCL soaring by Rs3.65 closed at Rs130. Lucky Cement surged by Rs4.95 and Fauji Fertilizer Bin Qasim by Rs0.80 to close at Rs133.90 and Rs45.80 respectively. KSE-30 index climbing 410 points reached at 18407 points. Analysts are of the opinion that the index in near future could make a new record in the history of the country. :banana::banana:

Updated at: 1710 PST, Thursday, March 06, 2008
KARACHI: Stocks surged for the second consecutive session Thursday…. pushing the benchmark index KSE to its new life high of 15,145 points.

During the session, the index also hit a new intraday high of 15,180 levels.
The 187-point gain came amid a heavy volume of 321 million shares.

Dealers say that foreign interest in energy sector drove the market today where heavy volumes of around 100 Million shares were witnessed.

However, despite the rally, the broader market was mix with 183 gainers against 173 losers.

KSE-30 Index gained 204 points to close at 18611 points.

- The news

Kool If the bullish trend sustains little longer and politicians don't mess it up, it could trigger another economy boom.

KARACHI: The positive political developments inspired equity investors to place Karachi bourse on record high level Wednesday. National Assembly convention and US strategy to deal with economic depression were seen as chief reasons behind investors’ optimism.

KSE 100-share Index jumped 228 points (or 1.52 per cent) to conclude at 15,171 points all time high. The junior 30-Index posted a fresh surge of 321 points or 1.75 per cent to end at 18,706 points.

“It was euphoric buying across the board where the chief 100-Index opened with extended gains and continued to surge up throughout the session. However, an ignorable adjustment of less than one point was also witnessed in closing moments,” analysts said.

The National Assembly session has been summoned on March 17, this news moved local investors while foreign investors reacted to US Federal Reserve move to ease credit conditions. Moreover, record high oil price at $110 per barrel in the world markets, increase in DAP prices, and rise in Pakistani cement prices in UAE markets with a possible rise in its dispatches were prominent reasons, said Ahsan Mehanti of Shahzad Chamdia Securities.

Analysts also linked phenomenal activities at local bourse with performance of world stocks market during the day. “US equity markets witnessed biggest rally in the last five years trickling positive momentum in the Asian stock markets which proved beneficial for KSE-100 index,” reported Live Securities.

Hasnain Asghar Ali of Aziz Fidahusein added that the remedy proposed by US treasury to bring an end to the aftermath of US sub prime issue allowed the international markets to get back on the recovery track. The impact was felt in local bourses as well.

Almost all the favourite sectors saw fresh buying. The most active sectors included cement, fertilizer, energy, banking and telecom. OGDC, PTCL, NBP, MCB Bank, United Bank and JS Company were the big contributors of points in 100-Index.

In terms of generating volumes, the banking stocks led the day rally, which was followed by cement giant scrips.S. Kashif Mustafa of ECL Research observed that index was largely driven by the banking sector with MCB and NBP standing amongst the major gainers with decent volumes.

Telecom sector also posted noticeable impact on the index with blue chip scrip of PTCL positioning itself amongst primary gainers with healthy volumes gaining Rs1.35 a share, he said. Fertilizer and E&P sector were the other major movers. Fertilizer sector remained promising with DAP prices hitting it all time highs and increasing local and global demand. Also, ENGRO’s stake in an Algerian DAP plant, may impact its earnings potential in long term, he added. OGDC, PPL and POL gained in the current trading session as accumulation continued owing to their tremendous growth prospects and increase in exploration activities.

Oil and gas sector is yet another sector anticipated to remain promising in the medium to longer term. Stability in the market looks possible with high numbers in green territory, as turnover in the ready market jumped up by 62 per cent to 308.547 million shares compared to 190.572 million shares traded a day earlier.

Also, gainers also outnumbered the losers on board with 209 stocks advanced against 149 declined. The value of 36 scrips remained unchanged with total 394 active counters in the market.

Accordingly, the overall market capitalisation rose by Rs63 billion to Rs4.671 trillion. Highest volumes were witnessed in Luck Cement at 33.621 million closing at Rs137.90 with a gain of Rs3.50, followed by FFBL at 25.049 million closing at Rs46.65 with a gain of Rs1.15, NIB Bank at 22.590 million closing at Rs19.60 with a loss of 75 paisa, Pak PTA at 18.629 million closing at Rs5.55 with a gain of 25 paisa and OGDC at 15.885 million closing at Rs136 with a gain of Re1.

oh shit, son.

Inflation fears subdue business sentiments on KSE

By Our Staff Reporter

KARACHI, March 17: The share market on Monday gave a cautious welcome to the new popularly elected assembly as the KSE 100-share index could not sustain the initial enthusiasm on the perception that the new government will inherit a host of economic and financial problems and there could be possible jolts in the coming months on the issue of inflation ‘monster’. The KSE 100-share index fell by 44.07 points but did not breach the barrier of 15,000 points.

However, long-term economic perceptions are fairly bullish on the belief that the sailing would be smooth after initial challenges were met by the strong coalition governments both at the centre and the provinces, most analysts hope.

The KSE 100-share sustained the psychological barrier of 15,000 at 15,043.40 after having early touched the session’s peak level of 15,137.41 but late selling pushed it down by 44.07 points. The free-float 30 share also fell by 68.91 points at 18,426.63.

Fresh active short-covering in Engro Chemical, PSO, Pakistan Oilfields and some others limited the fall in the index despite active profit-selling in Bank of Punjab, OGDC and Arif Habib Securities.

“Amid fears of a possible standoff in the transfer of power, investors mostly take calculated forward positions as heavy financial risks were involved,” said a broker adding that is “what exactly the maiden oath taking session of the new parliament witnessed”.

There is a loud whispering in the corridors of the bourse that the presidency and the new government could hardly co-exist owing to their respective rigid positions on some of the issues, which may lead to a standoff, some analysts fear and this may lead to absence of foreign investors, who are now planning to re-enter the market.

“There could be jolts here and there, including the nomination of the future prime minister but I don’t foresee any major split in the ruling parties as the dissenting voices are too weak to score a point in the existing context,” said a leading stock analyst.

But investors are expected to play safe and will not indulge in speculative trading until at least the new setup led by a strong prime minister is in place at the centre, he added.

The weakness of the cement sector on active selling weighed heavily against the underlying sentiment as leading among them, notably Lucky Cement and D.G. Khan Cement came in for selling at the higher levels.

Leading gainers were led by EFU Life and JS & Co, up by Rs38.20 and 30, followed by BOC Pakistan, JS Global, Shell Pakistan, Packages, PSO, and EFU General Insurance, which posted gains ranging from Rs9.90 o 26.95.

HinoPak and Siemens Pakistan were the losers, off by 16.95 and 13 respectively. Other prominent losers included Javed Omer, Habib Bank, Adamjee Insurance, IGI Insurance, Pakistan Resource Co, Mirpurkhas Sugar, Lakson Tobacco, Attock Petroleum, Pakistan Engineering, Pak-Suzuki Motors, Siemens Pakistan, Shezan International and Shell Gas, on selling followed by reports of Rs10 per kg cut in retail prices, off by Rs5 to Rs13.

Traded volume fell to 155m shares from the previous 218m shares as leading investors kept the sidelines anticipating some more positive developments on the political front. Losers led gainers by a fair margin at 103, with 26 shares holding on to the last levels.

Engro Chemical topped the list on some positive developments, including its proposed joint venture in setting up a fertiliser plant in Algeria, steady by 40 paisa at Rs334.55 after at one stage having touched the session’s peak at Rs342 on 11m shares.

Pakistan Cement followed it lower 75 paisa at Rs11 on 10m shares, Bank of Punjab, easy by 70 paisa at Rs85.80 on 9m shares, Lucky Cement, off Rs3.75 at Rs134.70 on 8m shares, PSO, sharply higher by Rs18.05 on reports of refixing of retails sales at the higher levels, at Rs538.55 on 7m shares, OGDC, off Rs1.10 at Rs133.10 on 6m shares and D.G. Khan Cement, lower by Rs3.25 at Rs107.90 also on 6m shares.

Other actives were led by Fauji Fertiliser Bin Qasim, lower by 55 paisa at Rs45.55 on 7m shares, followed by Arif Habib Securities, off Rs2.95 at Rs170 on 5m shares and Pakistan Oilfields, up by 95 paisa at Rs357.95 on 5m shares.

FORWARD COUNTER: Bank of Punjab led the list of actives on the cleared list, steady by 10 paisa at Rs70 on 11m shares followed by Engro Chemical, higher by Rs1.30 at Rs335.80 on 6m shares and PSO, sharply higher by Rs14.50 at Rs538 on 6m shares.

MCB Bank followed them, off Rs5.20 at Rs391.80 on 4m shares and Lucky Cement, off Rs3.75 at Rs135.15 on also 4m shares.

DEFAULTER COMPANIES: Zeal Pak Cement led the list of actives, lower five paisa at Rs4 on 0.842m shares followed by Invest Capital Bank, off 30 paisa at Rs6 on 0.224m shares, Norrie Textiles, easy 10 paisa at Rs1.65 on 0.164m shares and Japan Power, lower 15 paisa at Rs6 on 0.117m shares.

BOARD MEETINGS: Pakistan House International on March 18 and Central Insurance on March 20.

http://www.dawn.com/2008/03/18/ebr5.htm

KSE soon to become public entity

KARACHI, March 17: The status of Karachi Stock Exchange will soon be changed from a corporate entity to that of a ‘public entity’ -- a term usually referred to as being ‘demutualised’.

The KSE will then only be the 15th stock exchange to have such a status.

Speaking at seventh show in the series of road shows on investment at a Faisalabad hotel, KSE Managing Director Adnan Afridi briefed the audience on the working of the bourse and its current and past performances.

According to a press release issued here on Monday, he briefed them on the future outlook of the stock market and plans of the KSE.

Central Depository Company CEO Muhammad Hanif in his presentation said that the CDC currently holds more than 53 billion shares worth close to Rs3 trillion.

Mr Hanif told retail investors from Faisalabad and adjoining areas that the electronic process introduced by the CDC had rid the market of time-consuming procedures for transfer of ownership, pledging and credit of corporate benefits.

The series of road shows was first initiated from Sialkot in 2005 and they had been held in Peshawar, Hyderabad, Quetta, Multan and Sukkur.—PPI

http://www.dawn.com/2008/03/18/ebr16.htm

Updated at: 1700 PST, Wednesday, March 19, 2008
KARACHI: Bulls returned to the local capital market on Wednesday pushing the benchmark KSE-100 Index by 238 points to 14964.

Unconfirmed reports regarding discovery of gas deposits in Thal and implementation of CFS Mark-II kept circulating in the market, contributing to the investors’ confidence to take fresh positions.

OGDC led the top gainers which advanced by Rs2.85 to close at Rs134.85.

KSE-30 Index jumped by 344 points to finish at 18238.

Market analysts forecast correction at the level of 15000 points.

-The News

KARACHI: Continuously rising Karachi stock market again closed at a new record level on Wednesday as leading benchmark 100-share index closed just one point short of the resistance level of 15,200.

The KSE 100-share index moved up by 76 points or 0.50 per cent and ended at 15,199, the highest-ever level. The parallel running junior 30-index rose by 143 points or 0.77 per cent and ended at 18,588 points. Amicable resolution of some controversial issues in the market i.e. CFS MK-II, persistently mounting cement prices in the north of the country amid increasing export of this commodity, and exploitation of newly-found oil and gas reserves in NWFP altogether invited notable fresh investment in relevant stocks on the KSE, analysts said.

They maintained banking, telecom and fertiliser sectors also performed well in the sky-rocketing market, but a few blue chips including EFU General Insurance, OGDCL and FFBL failed to end in the positive column.

With the opening, the 100-index briefly touched 15,263 points, the intra-day high, in early trading, posting the day’s maximum gain of 140 points. Profit-booking at available margins trimmed the day’s high gains by the close of market.

The day closing level of 100-Index surpassed previous peak historic closing level of 15,182 points achieved on Monday, March 24. The difference between the Monday’s and this session peak levels was just of 16 points. Trading volume in the ready market was not astonishing and recorded at 219.459 millions shares, which were slightly up against 215.919 million shares changed hands yesterday.
....
source (http://thenews.com.pk/daily_detail.asp?id=103189)

KSE 100 index hits new record

Continuous positive run by stock market, emerging political stability in the country, recent steps by SECP for stock market and improving confidence amongst investors contributed to maintain record trajectory for the second straight day at Karachi Stock Market. KSE 100 index on Thursday broke its previous records as it closed on historic high level of 15,274.53 points against 15,198.86 points on Wednesday, thus the index gained 75.67 points or 0.50 percent.

- Daily Times

KARACHI: The unprecedented political development in Sindh as a result of reconciliation between two major political forces, MQM and PPP, gave a further impetus to the continuous historic rally in Karachi stock market on Friday, which marked another momentous day in the history of KSE as its 100 index for the third consecutive day broke the record.


http://www.dailytimes.com.pk/default.asp?page=2008\04\05\story_5-4-2008_pg1_3

^^ They didn't bother to mention the closing points?

Closing Prices: KSE asked to devise new mechanism
RECORDER REPORT

KARACHI (April 05 2008): The Securities and Exchange Commission of Pakistan (SECP) has directed Karachi Stock Exchange (KSE) to immediately discontinue application of bid/offer mechanism for calculation of closing prices, and make necessary changes in the regulatory framework.

In a notice sent to the KSE, it was stated that SECP under its letter dated April 16, 2007, had quoted various instances to illustrate how this mechanism was being used to manipulate the closing prices which are available on KATS, and had advised the Exchange to discontinue the said mechanism for updating closing prices to curtail the misuse of this mechanism for artificial manipulation of the closing prices of securities disclosed on KATS, KSE's website and daily quotations.

However, it said, no action had been taken by the Exchange in this regard, and the said mechanism was still in use. Hence, considering the fact that such mechanism may be used for manipulating of closing prices of securities, this practice needs to be discontinued immediately, the SECP said.

http://i262.photobucket.com/albums/ii109/traPPed_2008/KSEOutperforming.jpg?t=1208595860

http://i262.photobucket.com/albums/ii109/traPPed_2008/KSEPerformance.jpg?t=1208596072

http://i262.photobucket.com/albums/ii109/traPPed_2008/KSEOutperforming.jpg?t=1208595860

Egypt?!

^^Its a fast growing market as well. But i never expected their stock to be that good.

Yeah I'm really surprised.

Everytime you buy a Mobilink SIM, Egypt's economy goes up.

Egypt?!

Never knew that!

Everytime you buy a Mobilink SIM, Egypt's economy goes up.

Everytime you buy pretty much anything in Pakistan, somebody elses economy goes up.

Everytime you buy pretty much anything in Pakistan, somebody elses economy goes up.

Everytime you buy anything ANYWHERE, some other country's economy goes up.

Thats just insane. A $1000 Dollar invested in Egypt would turn into $15,000 Dollars.

^^Somehow I doubt that figure. If that were the case people would have been flocking to egypt.

Maybe a mistake in the map? :dunno:

You guys need to read up on Egypt (especially its stock exchange!). :ohno:

KARACHI (April 26 2008): After witnessing bearish trend during last four consecutive days, the Karachi share market turned bullish on Friday and the KSE-100 index recovered 129.84 points to close at 15,434.74 points level on the back of fresh buying mainly in banking and fertiliser sector stocks.

The market started trading in a depressed mood and the KSE-100 index hit 15,227.67 points intra-day low level, however late buying euphoria supported the index to close in positive territory registering healthy gains.

Trading activity also improved as the ready market volume increased to 259.867 million shares as compared to 237.667 million shares traded a day earlier. The futures market turnover significantly increased to 167.893 million shares against 96.835 million shares on Thursday.

The overall market capitalisation surged by Rs 37 billion to Rs 4.724 trillion. Trading took place in 362 scrips, out of which 162 scrips closed in negative and 161 scrips closed in positive while the value of 39 scrips remained unchanged.

DG Khan Cement was the star performer of the day with 20.631 million shares and increased by Rs 2.90 to close at Rs 112.90 followed by Bank Alfalah, which gained Rs 2.10 to close at Rs 56.50 with 20.130 million shares. JS Bank and BoP surged by Rs 1.05 and Rs 0.85 to close at Rs 23.00 and Rs 61.70 with 16.641 million shares and 12.761 million shares respectively.

Azgard Nine gained Rs 4.25 to close at Rs 90.05 with 10.978 million shares. Nishat Mills increased by Rs 6.10 to close at Rs 128.10 with 10.704 million shares. Pervez Ahmed surged by Rs 0.50 to close at Rs 89.70 with 9.489 million shares.

Engro Chemical increased by Rs 12.25 to close at Rs 351.25 with 7.937 million shares. OGDC surged by Rs 0.40 to close at Rs 138.70 with 7.787 million shares. Attock Refinery gained Rs 13.75 to close at Rs 289.20 with 6.719 million shares.

Nestle Pakistan and AKD Capital Limited were the highest gainers and gained Rs 50.00 and Rs 46.40 to close at Rs 1500.00 and Rs 976.20 respectively while Wyeth Pak and Fazal Textile were the highest losers and lost Rs 110.00 and Rs 15.00 to close at Rs 2090.00 and Rs 575.00 respectively.

Ovais Siddiqui, Head of International Sales at First Capital Equities said that the attractive results of MCB and Nishat Mills invited fresh buying mainly in the banking sector stocks and both the stocks closed at its upper lock. The announcement of MCB and Nishat Mills to revalue their investment portfolios also encouraged the market participants to take fresh positions on attractive levels.

Fresh buying was witnessed mainly in banking sector due to good results of MCB and HBL as the investors were expecting attractive results of NBP and other banking stocks. The energy sector remained stable. Foreign investors interest was seen in banking and energy sector stocks.

Ahsan Mehanti at Shehzad Chamdia Securities said that buying was witnessed in Mansha Group scrips including MCB, NML, AICL and DGKC as result announcement made and announcement regarding purchasing of group companies shares came. Fresh buying was witnessed in banking, cements and oil sectors on the back of foreign institutional and retail investors' interest on weaker rupee.

http://brecorder.com/index.php?id=727857&currPageNo=1&query=&search=&term=&supDate=

our stock markets seem healthy so what the hell is wrong with the Rupee?? it keeps sliding in value. does anybody have an answer?

cuz our trade is out of balance

our import bill is massive because of oil

exports obviously won't grow at the rate the price of oil is going up

I really hope the price of oil stabilises.

If it goes at this rate, it will cross $200 next year.

I don't understand how the world economy could ever keep pace with this rate.

Also, it won't be good for the arabs, if it keeps on going at this rate, the world will rush to develop substitutes in fast mode, solar, water, wind, and, finally, fusion reactors. Ultimately, oil will be replaced by fusion. The faster the price of oil increases, the faster the substitutes will be developed.

I really hope the price of oil stabilises.

If it goes at this rate, it will cross $200 next year.

I don't understand how the world economy could ever keep pace with this rate.

Also, it won't be good for the arabs, if it keeps on going at this rate, the world will rush to develop substitutes in fast mode, solar, water, wind, and, finally, fusion reactors. Ultimately, oil will be replaced by fusion. The faster the price of oil increases, the faster the substitutes will be developed.

yaar how can the price of oil go down when there is China and india are demanding more and more as they grow. plus there is a war in iraq, and Iran isnt allowed to export oil. Oil is only gonna go uuupp. lets start buying electric cars.

^^ It might be a speculatory bubble.

Or maybe OPEC will come to its senses and start pumping more and more oil, if they have more that is.

We should diversify away from oil.

Go nuclear, build dams.

^^ hope so, the rupee is almost at 65.

I really hope the price of oil stabilises.

If it goes at this rate, it will cross $200 next year.

I don't understand how the world economy could ever keep pace with this rate.

Also, it won't be good for the arabs, if it keeps on going at this rate, the world will rush to develop substitutes in fast mode, solar, water, wind, and, finally, fusion reactors. Ultimately, oil will be replaced by fusion. The faster the price of oil increases, the faster the substitutes will be developed.
From what I know, the first fusion reactor that actually produces electricity won't start working before 2050. It's in France or Japan, I forgot which one. By that time most of the oil would already be gone anyway. Also, by that time Arabs would've made so much buttloads of money that it won't even be funny. They're rolling in petrodollars and every year they make more and more. The other alternatives are just delusional liberal hippy jokes. Nuclear is the way to go.

From what I know, the first fusion reactor that actually produces electricity won't start working before 2050. It's in France or Japan, I forgot which one. By that time most of the oil would already be gone anyway. Also, by that time Arabs would've made so much buttloads of money that it won't even be funny. They're rolling in petrodollars and every year they make more and more. The other alternatives are just delusional liberal hippy jokes. Nuclear is the way to go.

No the first prototype is being built in France and it is expected to become operational around 2030.

The Arabs have already made a buttload compared to their small populations over the past 40 years. They haven't done much with it. Will they use it wisely in the next 40? Lets hope so.

The other alternatives are not exactly hippy jokes. They aren't very efficient and are expensive compared to oil at the moment. However, the technology is improving everyday, the price is coming down every day, the efficiency is going up everyday, the price of oil is going up everyday :nuts:

So every passing day makes alternatives more and more feasible.

Everyone around the world will be forced to diversify away from oil. Also, the climate change problem will also increase the appeal of alternatives.

I would guess that alternatives as a percentage of total energy would increase steadily over time until fusion energy

I really hope the price of oil stabilises.

guess what happaned today.


ISLAMABAD (updated on: April 26, 2008, 20:26 PST): Federal Finance Minister, Ishaq Dar has said that oil prices might further rise before June 30, 2008, as the government was giving subsidies on oil and diesel in the range of Rs17-21 per litre.

Briefing the Senate standing committee for finance here, he said that the financial deficit has shot up to Rs557 billion due to the policies of the previous government. He said that this included such Rs125 billion, whose record was missing and it was without any audit.

He said that the previous government spent Rs44 billion for wheat, Rs75 billion for development expenditures and Rs43 billion for DAP and other additional grants, while Rs70 billion subsidy was paid to Wapda on account of electricity. Thus, the financial deficit worked out to over 9 percent, which cutting down would be brought to 7 percent. Ishaq Dar said that talks were underway with the Asian Development Bank for $1 billion fund.

No the first prototype is being built in France and it is expected to become operational around 2030.

The Arabs have already made a buttload compared to their small populations over the past 40 years. They haven't done much with it. Will they use it wisely in the next 40? Lets hope so.

The other alternatives are not exactly hippy jokes. They aren't very efficient and are expensive compared to oil at the moment. However, the technology is improving everyday, the price is coming down every day, the efficiency is going up everyday, the price of oil is going up everyday :nuts:

So every passing day makes alternatives more and more feasible.

Everyone around the world will be forced to diversify away from oil. Also, the climate change problem will also increase the appeal of alternatives.

I would guess that alternatives as a percentage of total energy would increase steadily over time until fusion energy
Fusion is like free energy. Nothing, and I mean NOTHING comes anywhere close to it. Sloar and Wind power take lotsa space, require special conditions, and don't produce electricity all the time.

Fusion is like free energy. Nothing, and I mean NOTHING comes anywhere close to it. Sloar and Wind power take lotsa space, require special conditions, and don't produce electricity all the time.

Nothing is free. Have you forgot about the Massive development costs related to an actual working Fusion reactor. Also when there is an actual working Fusion reactor, developing countries will still face the same problem, Buying Fuel (to operate the Fusion reactor).

Wind and Solar is bogus. Unless the govt subsidize over 75% of the cost related to Wind and Solar implementation, it can't compete with traditional fuels. No matter how much people loves the environment, they aren't willing to pay 5-7 times more for electricity than they currently pay.

^^ It might be a speculatory bubble.

Or maybe OPEC will come to its senses and start pumping more and more oil, if they have more that is.

We should diversify away from oil.

Go nuclear, build dams.

I was listening to NPR yesterday and they were saying even if the OPEC countries raise their production, it will make very little difference to the price of oil because there will be no buyers. They were using complex financial jargon that I didn't quite grasph, such as the "credit crunch" affecting the ability of countries to buy the oil. They were saying that banks aren't lending any more money to countries to buy their oil.

Also, yes, the oil price will hit $200 next year. They said that nothing in the American economy is designed to run economically at over $100/barrel. Planes aren't built to fly economically above this price, let alone $200. Basically, we're all fucked.

Prepare for the Great Depression gentlemen. Time to cart US dollars and Pakistani rupees in a wheel barrow to keep warm in the winter :lol:

maybe we should be looking for a different currency to hide since dollar is sliding too.

^^ Many people and nations are switching to the Euro.

and soon there will be Amero

and soon there will be Amero

not a chance

americans are still having trouble accepting NAFTA

I was listening to NPR yesterday and they were saying even if the OPEC countries raise their production, it will make very little difference to the price of oil because there will be no buyers. They were using complex financial jargon that I didn't quite grasph, such as the "credit crunch" affecting the ability of countries to buy the oil. They were saying that banks aren't lending any more money to countries to buy their oil.

Also, yes, the oil price will hit $200 next year. They said that nothing in the American economy is designed to run economically at over $100/barrel. Planes aren't built to fly economically above this price, let alone $200. Basically, we're all fucked.

Prepare for the Great Depression gentlemen. Time to cart US dollars and Pakistani rupees in a wheel barrow to keep warm in the winter :lol:

that makes on sense, if there are no buyers there should be no demand, and, if there is no demand this price should not be 117$ it is should be $1.7 a barrel

These price increases will be passed onto the consumers. air fares will go up etc

Nothing is free. Have you forgot about the Massive development costs related to an actual working Fusion reactor. Also when there is an actual working Fusion reactor, developing countries will still face the same problem, Buying Fuel (to operate the Fusion reactor).

Wind and Solar is bogus. Unless the govt subsidize over 75% of the cost related to Wind and Solar implementation, it can't compete with traditional fuels. No matter how much people loves the environment, they aren't willing to pay 5-7 times more for electricity than they currently pay.

Thats the point I made, technology will keep improving, the efficiency of solar/wind/water will keep improving, their costs will keep coming down, the cost of oil will keep going up, their feasibility will increase over time

that makes on sense, if there are no buyers there should be no demand, and, if there is no demand this price should not be 117$ it is should be $1.7 a barrel

These price increases will be passed onto the consumers. air fares will go up etc

There is demand but there is no ability to buy any more oil. Main demand is coming from China/India.

They were saying banks aren't lending to countries so they can't close the demand/supply gap withing their own countries.

There is demand but there is no ability to buy any more oil. Main demand is coming from China/India.

They were saying banks aren't lending to countries so they can't close the demand/supply gap withing their own countries.

Demand means WILLING AND ABLE to purchase at a given price.

Otherwise I have a "demand" for a Rolls Royce Phantom :nuts:

Man! Shouldn't this thread be made a "Sticky" by now?! :?

FTSE Global Equity Index

The FTSE Group classifies countries into three categorizes, the process by which stock markets are classified as either Developed or Emerging markets within the FTSE Global Equity Index Series. The categories are Developed, Advanced Emerging, and Secondary Emerging.

“ FTSE, helped by an expert committee of market practitioners, reviews quality of market criteria for all stock markets included in FTSE GEIS to assess the ease, cost and security of underlying investment transactions by international investors in all countries.
”

FTSE classification, as of January 2008:

Developed:

Australia, Austria, Belgium, Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, United Kingdom and the United States.

Advanced emerging:

Brazil, Hungary, Mexico, Poland, South Africa, South Korea and Taiwan.

Secondary emerging:

Argentina, Chile, China, Colombia, Czech Republic, Egypt, India, Indonesia, Malaysia, Morocco, Pakistan, Peru, Philippines, Russia, Thailand and Turkey.

Demand means WILLING AND ABLE to purchase at a given price.

Otherwise I have a "demand" for a Rolls Royce Phantom :nuts:

:lol:

^^ Oh! So you understood this one bit of Economics??? WELL DONE OOGA!

^^ Oh! So you understood this one bit of Economics??? WELL DONE OOGA!

:sly:




*quickly tries to hide "economics for idiots" book* :shifty:

:sly:




*quickly tries to hide "economics for idiots" book* :shifty:
And takes out Economics for fatties.

And takes out Economics for fatties.

:(


I'm not fat I'm big boned!



*cries in the closet*

:(


I'm not fat I'm big boned!



*cries in the closet*

I'm Sorry! I couldn't resist!!

http://i262.photobucket.com/albums/ii109/traPPed_2008/yourefat.jpg

I'm Sorry! I couldn't resist!!

http://i262.photobucket.com/albums/ii109/traPPed_2008/yourefat.jpg

*runs away crying like a little girl*

I'm Sorry! I couldn't resist!!

http://i262.photobucket.com/albums/ii109/traPPed_2008/yourefat.jpg
I wish I could kill this guy along with Oprah. He also looks like a pedophile. I'm sure he brings in 13-y.o.s in his office to 'heal' them.

^^ haha I agree totally. Dr. Phil and Oprah should both die.

KARACHI: Heavy panic selling at Karachi Stock Exchange on Friday led to the slide of benchmark KSE-100 Index which lost 615 points to finish at 13,011.

Unstable political and economic condition of the country coupled with decreasing value of rupee shook the investors confidence who opted for off loading their holdings.

The market started in the negative zone but some recovery was seen soon afterwards.

However, investors later went for selling instead of taking new positions in the share market in view of the weakening economy and unstable political scenario.

The rupee value of dollar also jumped to Rs70 which further strengthened the bearish trend.

Trade volume was weak at 125 million shares lower by 25 percent compared to yesterday’s trade.

KSE-30 Index plunged by 502 points to 16,380.

http://www.thenews.com.pk/updates.asp?id=46116

democraaaaaaaaaaccyyyyyyyyyyyy!!!

KARACHI: Heavy panic selling at Karachi Stock Exchange on Friday led to the slide of benchmark KSE-100 Index which lost 615 points to finish at 13,011.


Trade volume was weak at 125 million shares lower by 25 percent compared to yesterday’s trade.

KSE-30 Index plunged by 502 points to 16,380.

http://www.thenews.com.pk/updates.asp?id=46116

Ummm....whats the difference between the KSE 100 Index and KSE 30 Index??? :? Can anyone explain it to me in layman terms???

Ummm....whats the difference between the KSE 100 Index and KSE 30 Index??? :? Can anyone explain it to me in layman terms???

looooooool

:rofl:

^^ I didn't ask for you to laugh! I asked for the reason! :weird:

Yeah, I wanna know too. What is the difference?

It only has 30 companies?

Yes. a wild guess trappy...

Ummm....whats the difference between the KSE 100 Index and KSE 30 Index??? :? Can anyone explain it to me in layman terms???

The KSE 100 consists of the 100 largest companies (highest market capitalization) and the KSE 30 has 30 companies. The KSE 30 index is calculated differently. For example the KSE 30 is adjusted when a company announces dividend whereas the KSE 100 does not. Also the selection of the KSE 30 stocks have a different criteria than the KSE 100 (which just selects the 100 largest companies). By the way most well known indexes such as Dow Jones does adjust for dividends, Rights share, Bonus .....etc.....

Uhh...so adjustinvg for dividends is a good thing? Do 100 stock exchanges in India and Bangladesh adjust for these things?

Uhh...so adjustinvg for dividends is a good thing? Do 100 stock exchanges in India and Bangladesh adjust for these things?

-Its not about being a good or bad thing, its just how they calculate the index, everyone has a different taste.

-In India, the Sensex index has 30 stocks and Bangladesh has DSE 25 index and yes I believe they both account for dividend readjustment; but Dhaka's DSE general Index does not.

The KSE 100 consists of the 100 largest companies (highest market capitalization) and the KSE 30 has 30 companies. The KSE 30 index is calculated differently. For example the KSE 30 is adjusted when a company announces dividend whereas the KSE 100 does not. Also the selection of the KSE 30 stocks have a different criteria than the KSE 100 (which just selects the 100 largest companies). By the way most well known indexes such as Dow Jones does adjust for dividends, Rights share, Bonus .....etc.....

Thanks for the info. So there is not "better" way and no way is the "right" way or the "wrong" way? Anyways what has always bothered me is that many stock exchanges around the world have more points in thousands than London's FTSE, but the FTSE is still worth more. Howcome???

Thanks for the info. So there is not "better" way and no way is the "right" way or the "wrong" way? Anyways what has always bothered me is that many stock exchanges around the world have more points in thousands than London's FTSE, but the FTSE is still worth more. Howcome???

because they are just arbitrary numbers; it has nothing to do with "real" values when comparing with different indexes. For example the Dow Jones Industrial Average started in the late 1890's and had a initial value of 40, whereas Nasdaq index stated in 1970's and had a initial value of 100. In some cases the index value started at 1000, such as the FTSE 100. Even tomorrow you can publish your own index starting it at 10,000 but it really doesn't mean anything. All that matters it how much the index grew percentage wise from its birth to present day. Hope this helps.

These -100 -30, etc. are companies cherry-picked from the total companies depending on different criteria. Dow Jones, for example, IIRC, picks companies that represent the general US economy. The companies may not necessarily (and definitely aren't) the top biggest companies. You use this index to assess the general market. I don't know how KSE-30 companies are chosen, but a similar criterion(ia) must be used.

Largest 30 KSE 100 Index companies

As of February 20, 2008

http://clip2net.com/clip/m7984/1211683029-clip-143kb.jpg
http://clip2net.com/clip/m7984/1211683057-clip-11kb.jpg

Thanks for the info Amar! I know my parents held OGDCL stocks a while ago and they buy/sell on the KSE. Wonder how much they make from it.

I don't like the fact that one or two companies have so much weightage in the Index. I've never liked that fact. The changes in their shares could dictate what happens throughout the stock market.

Thanks for the info Amar! I know my parents held OGDCL stocks a while ago and they buy/sell on the KSE. Wonder how much they make from it.

KSE is good for daytrading. It is way to volatile for longterm investing though! Absolutely ridiculious, the shit that goes on there.

KSE is good for daytrading. It is way to volatile for longterm investing though! Absolutely ridiculious, the shit that goes on there.

Its actually the opposite.

Its actually the opposite.

WHAT! Are you serious? Sure it goes up and hits new highs everyother day but every few months there is a catastrophic crash in which billions are lost! And by "investing" I meant longterm, "buying and holding until kingdom come", Warren Buffet-esque investing. :laugh:

WHAT! Are you serious? Sure it goes up and hits new highs everyother day but every few months there is a catastrophic crash in which billions are lost! And by "investing" I meant longterm, "buying and holding until kingdom come", Warren Buffet-esque investing. :laugh:

I agree with what you're saying. But the crashes are not as frequent as you're making them out to be. I've only heard of 2 such crashes in recent years, I think. So it doesn't crash "every few months". Maybe every few years. And as far as I know the crashes were engineered.

I agree with what you're saying. But the crashes are not as frequent as you're making them out to be. I've only heard of 2 such crashes in recent years, I think. So it doesn't crash "every few months". Maybe every few years. And as far as I know the crashes were engineered.

Which is also why I have very little faith in KSE.

WHAT! Are you serious? Sure it goes up and hits new highs everyother day but every few months there is a catastrophic crash in which billions are lost! And by "investing" I meant longterm, "buying and holding until kingdom come", Warren Buffet-esque investing. :laugh:

yea im talking warren buffet style long term "value" investing.

there is a lot of long term value, the fundamentals are very strong.

unless there is some massive political discontinuation and a drastic change of policies, the stock market will go up.

on the other hand, in the short term, you dont know which judge and which lawyer and which politician is gna say what and who will be assassinated and where will baitullah send his suicide bombers

yea im talking warren buffet style long term "value" investing.

there is a lot of long term value, the fundamentals are very strong.

unless there is some massive political discontinuation and a drastic change of policies, the stock market will go up.

on the other hand, in the short term, you dont know which judge and which lawyer and which politician is gna say what and who will be assassinated and where will baitullah send his suicide bombers

Maamoo! I was talking about "daytrading". Buying and selling the same day, and that too is stretching it!

Maamoo! I was talking about "daytrading". Buying and selling the same day, and that too is stretching it!

:laugh:

Maamoo! I was talking about "daytrading". Buying and selling the same day, and that too is stretching it!

araay baba it is actually the opposite

KSE is good for long term value investing

araay baba it is actually the opposite

KSE is good for long term value investing

Nevermind.

Nevermind.

WHAAAAAAAAAAAAAAAAAAAAAAAAAAAATTTTTTTTTT?????

I dont get it.

You were saying KSE is good for daytrading.

And, I said the opposite is true and its good for mid to long term value investing.

:dunno:

KSE hit by another severe bout of slump

KARACHI: Karachi Stock Exchange (KSE) on the first trading day of the week today witnessed yet another landslide pulling down the KSE-100 index by over 500 points and the market crashing below even the 12,500 marks.

Whether the ruling parties would be able to muster enough support for the impeachment of President Musharraf or not, but the very buzz has left the market completely shaken and shattered, as the newly elected government appears to have completely lost the confidence of the entrepreneurs and investors from within and outside the country, who are no longer willing to make any fresh investment and instead draining their capital out of the country for the last three months, which the analysts conservatively estimate at a mammoth $25 billion. No wonder, the rupee slumped down to the lowest ever at over Rs70 to a dollar in a brief period of about three months.

The market opened today with chips down by 300 points and finding no good news in sight due to the worst ever turbulent political and economic situation in the country, while economic managers kept talking about further stringent measures such as levy of the CVT triggered another bout of panic selling, which saw the index fast reeling down to 12,494, slashed by over 517 points.

The bears kept ruling the roost, while the small investors struck by heavy losses seem totally lost and kept steering in a state shock at the market board showing all companies reaching their lower locks and placed in red zone. KSE-30 index also declined by 650 points and was seen traded near 14605 points.

http://www.thenews.com.pk/updates.asp?id=46265

KSE hit by another severe bout of slump

KARACHI: Karachi Stock Exchange (KSE) on the first trading day of the week today witnessed yet another landslide pulling down the KSE-100 index by over 500 points and the market crashing below even the 12,500 marks.

Whether the ruling parties would be able to muster enough support for the impeachment of President Musharraf or not, but the very buzz has left the market completely shaken and shattered, as the newly elected government appears to have completely lost the confidence of the entrepreneurs and investors from within and outside the country, who are no longer willing to make any fresh investment and instead draining their capital out of the country for the last three months, which the analysts conservatively estimate at a mammoth $25 billion. No wonder, the rupee slumped down to the lowest ever at over Rs70 to a dollar in a brief period of about three months.

The market opened today with chips down by 300 points and finding no good news in sight due to the worst ever turbulent political and economic situation in the country, while economic managers kept talking about further stringent measures such as levy of the CVT triggered another bout of panic selling, which saw the index fast reeling down to 12,494, slashed by over 517 points.

The bears kept ruling the roost, while the small investors struck by heavy losses seem totally lost and kept steering in a state shock at the market board showing all companies reaching their lower locks and placed in red zone. KSE-30 index also declined by 650 points and was seen traded near 14605 points.

http://www.thenews.com.pk/updates.asp?id=46265

Just read the bold parts! Can't the new government do anything properly? :ohno:

Why am I hoping for another martial law in 3 years :ohno:

I still hope this is temporary.

Hey Secular, what are the chances that they will lockdown foreign currency account in Pak? Should I liquidate my foreign currency assets or what?

Lol none.

Unless there is a war with India or something on that scale, I dont see it happening.

It was actually Sartaj Aziz who did it I think under PMLNs rule, but, yeah, I dont really like Ishaq Dar either. His economic policies are not very liberal.

Right now, the finance minister is Naveed Qamar (PPP guy), who is a decent person (politicallly) unlike Ishaq Dar.

Wait another 6 months, and, if then the same situation persists than go ahead. But, right now, there is no rush. The situation is no way near as bad as in 1998/1999.

The budget should be passed within a month, lets see what it brings.

Point taken.

^^ Where did Ooga's post go to? The one which Secular replied too?? I can't seem to find it in this thread. :(

I personally don't think this has much to do with the new government. The stock market has lost that much several times during Mushi's time too so let's not jump on the new gov. The recent drop has to do with increase in the discount rate. It is done by the central bank, not the government.

I personally don't think this has much to do with the new government. The stock market has lost that much several times during Mushi's time too so let's not jump on the new gov. The recent drop has to do with increase in the discount rate. It is done by the central bank, not the government.

It started falling before the state bank increased the discount rate.

The primary reason is political uncertainty and a lack of clear economic policy/direction from the govt.

Like I said, lets hope its temporary, as I think it will be.

Now by "discount rate" you ladies mean "interest rate" right? And yes Secular is right.........

BTW I hate calling you Secular! We should have a nickname for you, so why dont you be a doll and tell us your name. :colgate:

These bastards are dealing with mickey mouse issues like changing the name of a province and whether or not to reinstate that chimp instead of scurrying to stabilise the plunging economy!

I swear if they freeze foreign currency accounts, I will personally track down Zardari and butcher him!

P.S: I was also reading in an economic report that investor confidence in the Government has plunged to such levels that money is being pulled out of the markets now to the tune of $25 Billion dollars in the past 3 months! No wonder the rupee has plunged to new lows as compared to the dollar and euro!

^^ We could call him Mushy? Afterall he is practically in love with the man.

As for the NWFP government, why do I get a sense of dejavu? Similar thing happened before in the last elections.

I personally don't think this has much to do with the new government.

Read the article posted by Secular. The bold bits. Investors have no condfidence in the new Government. Therefore, instead of making any new investments, they're taking their money with them. At the very minimum that totals $25 billion!! So how can it not have to do with the new government?

P.S: I was also reading in an economic report that investor confidence in the Government has plunged to such levels that money is being pulled out of the markets now to the tune of $25 Billion dollars in the past 3 months! No wonder the rupee has plunged to new lows as compared to the dollar and euro!

Thats exactly what the article posted by Secular said! :doh:

KSE hit by another severe bout of slump

KARACHI: Karachi Stock Exchange (KSE) on the first trading day of the week today witnessed yet another landslide pulling down the KSE-100 index by over 500 points and the market crashing below even the 12,500 marks.

Whether the ruling parties would be able to muster enough support for the impeachment of President Musharraf or not, but the very buzz has left the market completely shaken and shattered, as the newly elected government appears to have completely lost the confidence of the entrepreneurs and investors from within and outside the country, who are no longer willing to make any fresh investment and instead draining their capital out of the country for the last three months, which the analysts conservatively estimate at a mammoth $25 billion. No wonder, the rupee slumped down to the lowest ever at over Rs70 to a dollar in a brief period of about three months.

The market opened today with chips down by 300 points and finding no good news in sight due to the worst ever turbulent political and economic situation in the country, while economic managers kept talking about further stringent measures such as levy of the CVT triggered another bout of panic selling, which saw the index fast reeling down to 12,494, slashed by over 517 points.

The bears kept ruling the roost, while the small investors struck by heavy losses seem totally lost and kept steering in a state shock at the market board showing all companies reaching their lower locks and placed in red zone. KSE-30 index also declined by 650 points and was seen traded near 14605 points.

http://www.thenews.com.pk/updates.asp?id=46265

Well, OK. What are our forex reserves?

^^ I don't know.

It's come down to a really low level as compared to before.

12 something billion dollars.

ISLAMABAD: The Bursa Malaysia has agreed to forge cooperation in areas like Islamic Corporate Market, Information Sharing and dual listing. This was stated by Chief Executive Officer(CEO) of Bursa Malaysia Dato’ Yusli Mohamed Yusoff, during his meeting with the High Commissioner for Pakistan, Lt. General (Retd), Tahir Mahmud Qazi and Commercial Counsellor Mr. Majid Qureshi in Kaula Lumpur on Tuesday. According to a message received here, Mr. Yusli has also offered to help Pakistan to obtain membership of The World Federation of Exchanges, a trade organization aimed at regulating securities and derivative markets, settlement institutions and related clearing houses, and their diverse services to capital markets. The CEO Bursa Malaysia agreed to receive a delegation of KSE to discuss various provisions of proposed Memorandum of Understanding(MOU) to be signed between Pakistan and Malaysia to enlarge the scope of cooperation between the exchanges of the two countries. The High Commissioner for Pakistan apprised Mr. Yusli that the KSE is one of world’s best performing stock markets with over 650 listed companies and market capitalization of USD 66 billion. KSE 100 index, which was at 1300 points in 2002 climbed to over 15000 points in May 2008, indicating investors confidence in its inherent strength. The KSE has already consented to forge collaboration between the two Stock exchanges, keeping in view the increased international and regional activities in securities market necessitating greater coordination between the emerging markets like Malaysia and Pakistan.

Stocks 4.4 percent down on rumour that Musharraf has quit

KARACHI (May 29 2008): Rumours about President Musharraf's "resignation" and some brokers' inability to address margin calls on Wednesday led to cause aggressive selling on Karachi Stock Exchange where KSE-100 index witnessed a heavy decline of 567.27 points, closing at 12,254.98 points level from Tuesday's 12,822.25 points.

The KSE-30 index lost 749.35 points and settled at 14,395.11 points level. The market witnessed some buying in the initial hours and the index did make a visit to the positive territory to hit 12,926.26 points intra-day high level, up by 104 points. However, it could not continue this positive trend due to panic selling, which pushed the index into negative zone to reach 12,231.53 points intra-day low level, down by 590.72 points.

Trading remained thin and the ready market volume declined to 187.807 million shares as compared to 263.767 million shares traded a day earlier. The futures market turnover decreased to 56.187 million shares against 83.882 million shares of Tuesday.

The overall market capitalisation declined by Rs 170 billion to Rs 3.783 trillion. Trading took place in 359 scrips, out of which 292 scrips closed in negative and only 56 scrips closed positive while the value of 11 scrips remained unchanged. NIB Bank was the overall volume leader of the day with 10.021 million shares however lost Rs 1.00 to close at Rs 12.00. Bank Al Falah and NBP declined by Rs 2.37 and Rs 8.48 to close at Rs 45.13 and Rs 161.27 respectively.

TRG Pakistan decreased by Rs 0.80 to close at Rs 6.65. OGDC lost Rs 6.48 to close at Rs 123.27. Fauji Fertiliser Bin Qasim declined by Rs 1.70 to close at Rs 32.43. Arif Habib Sec closed at Rs 156.28, down by Rs 8.22. Pak Reinsurance lost Rs 4.52 to close at Rs 85.92. Bosicor Pakistan decreased by Rs 0.93 to close at Rs 13.05. Fauji Cement declined by Rs 0.99 to close at Rs 10.20.

Hinopak Motor and Al Ghazi Tractor were the highest gainers and gained Rs 8.00 and Rs 7.51 to close at Rs 548.00 and Rs 255.00 respectively while AKD Capital Limited and Nestle Pakistan were the highest losers and lost Rs 53.34 and Rs 50.00 to close at Rs 1013.65 to close at Rs 1350.00 respectively.

Hasnain Asghar Ali at Aziz Fidahusein Securities said that the value buying did emerge initially and the index made a visit to the positive territory. However, the recent statements by US senators admitting some mistakes certainly gave birth to rumours about President Musharraf's resignation.

Such rumours certainly invited aggressive selling. Intensity increased following rumours that inability of some brokers to address to the margin calls either by their brokers or bankers led to forced selling by the respective financers.

The hefty selling forced the buyers to pull back their buying limits. Absence of buyers in no time forced massive erosion. Liquidity crunch forced the leverage players to stay on sidelines and at on time, from there, almost all main board stocks hit the bottom lock.

With the government's stance still unclear on capital gain tax adding to the misery were the conflicting statements on the issues hardly related to the economic and social health of the citizens. This left the participants with no option but to wait. Low local confidence was shattered after the rupee left its ground and the reserves started depleting.

But even after all these hue and cry the authorities still have other issues on priority. "Technically, although index continues to stay in an oversold region, we desperately need something quite concrete to trigger short covering in order to allow index to stage a come back and determine a bottom", he added.

Reuters add: Shares fell nearly 4.5 percent to close at a nine-month low on Wednesday as investors nervous about the political and economic outlook sold their holdings, dealers said. The KSE-index has lost 13 percent since the beginning of the year and is 22 percent lower than a life high set on April 21.


Copyright Business Recorder, 2008

http://www.brecorder.com/index.php?id=747173&currPageNo=1&query=&search=&term=&supDate=

^^ Seems as if investors have confidence in Musharraf. Seen as the rumous of his resignation caused the Stock Market to witness a decline.

^^ Seems as if investors have confidence in Musharraf. Seen as the rumous of his resignation caused the Stock Market to witness a decline.

They always do. Dont you remember the last time when Geo or some other lame channel broadcast the news that Gen. Kiyani has arrested Musharraf.

They always do. Dont you remember the last time when Geo or some other lame channel broadcast the news that Gen. Kiyani has arrested Musharraf.
That must have been amongst the dumbest news to have been broadcasted in a long time.

That must have been amongst the dumbest news to have been broadcasted in a long time.

Brainless media galore

TRG Pakistan decreased by Rs 0.80 to close at Rs 6.65.

They started at Rs. 15 :nuts:

I always thougt TRG was doing well. (the company, not the stock)

I wonder what will happen if Axact has an IPO!

Well, OK. What are our forex reserves?

It's come down to a really low level as compared to before.

12 something billion dollars.

11.51 billion dollars as according to the State Bank, a week ago. :ohno:

KSE shows 3.7pc growth (http://www.dawn.com/2008/06/11/ebr10.htm)


By Sher Baz Khan

ISLAMABAD, June 10: The Karachi Stock Exchange (KSE) 100-index recorded a stunted growth of just 3.7pc during FY07-08, compared with a 23pc growth last year, the Economic Survey revealed.

In US dollar terms, things looked more dismal with the market posting a negative growth of 7.1 per cent.

Political uncertainty and events like the imposition of emergency, the Lal Masjid stand-off and assassination of Benazir Bhutto had badly hampered the performance of capital markets in the outgoing financial year.

During the same period, India’s Sensex 30 index displayed impressive performance by rising 15pc in dollars terms and by more than 11pc in local currency, the Economic Survey 2007-08 pointed out.

The survey reveals performance of KSE -- the country’s leading stock market--from July 2007 to end of May 2008. The sharp drop in share values during the first week of June has not recorded, which was attributed to speculations over the government’s plan of imposing the Capital Gains Tax (CGT).

Aggregate market capitalisation (AMC) of the KSE, by the end-May 2008 declined to $56 billion (Rs3.746 trillion) from $62.3billion (Rs3.781 trillion) in the corresponding period last year. That represented a decrease of Rs35billion in AMC over the same time last year. Analysts noted that last year the AMC was 35pc higher than the year before.

The outgoing fiscal year began with the Lal Masjid incident in early July when the issue of the restoration of the deposed Chief Justice of Pakistan Iftikhar Mohammad Chaudhry, had taken the country by storm. Speculation about the imposition of emergency rules in the country

^ Last year was really bad for the markets, but hey it could have been much worse. Lets hope this year things look up again.

http://epaper.dawn.com/Web/Article/2008/06/16/602/16_06_2008_602_001.jpg

Is anyone here a trader or an investor?

Does anyone here invest in stocks?

I am thinking of putting some spare cash in stocks. Not really gonna be a regular trader, looking at it from more of a long term point of view, 3 to 5 years, need a decent growth in that time period. I dont really have any experience in stocks or trading. Plus I dont know any specific stocks, I am just looking for some good indices.

Any advice? Any good indicies with potential for long term growth?

I am guessing now would be a decent time as the KSE is on 14 month lows.

Is anyone here a trader or an investor?

Does anyone here invest in stocks?

I am thinking of putting some spare cash in stocks. Not really gonna be a regular trader, looking at it from more of a long term point of view, 3 to 5 years, need a decent growth in that time period. I dont really have any experience in stocks or trading. Plus I dont know any specific stocks, I am just looking for some good indices.

Any advice? Any good indicies with potential for long term growth?

I am guessing now would be a decent time as the KSE is on 14 month lows.

I trade on NYSE and NASDAQ. Cant really say anything about longterm, the times we live in are far too turbulent however there is allot of money to be made in the short term. Oil stocks are going crazy right now! MXC and PDO are like a bloody rollercoaster ride! Coal and steel is also through the roof, look into MEE & ANR in coal and JRCC in steel. Also depends on how much money you are playing with, if you have a decent chunk then there really is allot of money to be made in the short term.

P.S: In the Pakistani market, currency exchange is very lucrative. Unfortunatey you just missed the "Euro-coaster" as I like to call it. :laugh: I went in when then Euro was in the 70's and currently it is hovering between 100-110. But then the rupee is sliding at the same time soooo......yeah. But then if you were to invest in KSE, the value of your money would have been plunging even faster because the ROI isnt as rapid as it is in currency exchange. Plus currency exchange is allot more stable then the KSE. (atleast in my opinion)

Is anyone here a trader or an investor?

Does anyone here invest in stocks?

I am thinking of putting some spare cash in stocks. Not really gonna be a regular trader, looking at it from more of a long term point of view, 3 to 5 years, need a decent growth in that time period. I dont really have any experience in stocks or trading. Plus I dont know any specific stocks, I am just looking for some good indices.

Any advice? Any good indicies with potential for long term growth?

I am guessing now would be a decent time as the KSE is on 14 month lows.
Yeah, invest money and wait.

And man, I thought everyday of buying Euros back when it was at 80. I could've made so much money, but was damn lazy.

KSE leaps 960 points to post highest-ever increase in a day



Wednesday, June 25, 2008
By Salman Siddiqui

KARACHI: The redefined regulations for an interim period of 30 days inflated the investment-bubble at Karachi bourse with artificially created buying interest on Tuesday.

Limiting the losses, if any, to just one per cent in any share in a single day and allowing 10 per cent increase in one-go, and prohibiting short-selling completely for a limited period altogether helped market recover on war-footing.

Accordingly, leading benchmark the KSE 100-share Index recovered 960.50 points or 8.60 per cent very easily and closed at 12,123 points. The day gains, in terms of index-points and percentage wise too are ever-highest maximum rise in a single session in KSE entire history, it was learnt.

Parallel running junior 30-Index regained 1,219 points or 9.56 per cent and finished at 13,970 points.

Nearly three-dozen stocks, mainly blue chips in energy, financial, cement, fertilizer and telecom sectors, hit their upper lock of 10 per cent successfully. Therefore, the major support to the indices was again extended by fundamentally weak banking stocks, followed by a few energy and fertilizer scrips.

Under the lead of MCB Bank and National Bank, the United Bank, Habib Bank, NIB Bank, Bank Al-Falah, Standard Chartered Bank and Allied Bank came forward to include their points in huge in indices. They collectively contributed 242 points on 100-Index.

The second and third tier banking stocks also performed positively, but their share is not included in the above mentioned points.

Similarly, the Oil and Gas Development Company, Pak Petroleum, Pakistan State Oil - the major contributors of points from energy sector to 100-Index - altogether added 273 points.

Therefore, the Fauji Fertilizer Bin Qasim, Engro Chemical and Pakistan Telecommunication Company added another 11 points, 18 points and 50 points respectively in the chief benchmark.

“It was speculative and artificially attracted buying. Otherwise, the pathetic economic fundamentals have not changed to positive so far and would impact the long term investors,” market experts said.

This is evident with the day turnover in ready market that remained thin at 183.9 millions shares despite historical rise in the indices. This turnover is, however, 19 per cent higher than 154.8 million shares changed hands a day earlier.

Accordingly, the market participants injected Rs284 funds in the overall market capitalisation that surged to Rs3.730 trillion.

Member-director on KSE board, Dawood Jan Mohammad said that the officials of KSE and SECP achieved their goal of reviving positive sentiment in the fast plummeting market by amending some regulation for a limited period.

The measures of revising the lower circuit breaker to just one per cent against five per cent and enhancing upper circuit breaker to 10 per cent instead of five per cent build confidence among equity investors, he added.

The steps have removed artificial fall in the market, he claimed.

Saad bin Ahmed at Capital One Equity, however, was of the view that the fundamentals of stocks have not change to positive and support in the market was of artificial nature. The fear of further rise in SBP discount rate is still there, he observed.

Atif Malik and Farhan Rizvi at JS Global Research added that the interim measures would again benefit the short-term investors while long-term investors should think twice before finalizing a deal at once.

They further said that the overnight changes made in stocks market regulations cannot drive market up continuously until and unless the genuine issues on economic and political fronts were resolved on permanent basis.

The measures taken for confidence building among investors were loss preventing steps, which were advancing on fast pace everyday for the last couple of weeks, but optimistic investors perceived them (measures) the other way and indulged into massive buying, experts said.

The plus signs dominate market with 299 stocks advanced against 27 declined into the red region, the value of 14 scrips remained unchanged with total 340 active counters on board.

Highest volumes were witnessed in OGDC at 16.5 million closing at Rs128.70 with a gain of Rs11.70, followed by DG Khan Cement at 8.5 closing at Rs60.27 with a gain of Rs5.66, Hub Power at 6.8 million closing at Rs29.69 with a gain of Rs1.64, FFBL at 6.4 million closing at Rs36.02 with a gain of Rs3.27 and Lucky Cement at 6.2 million closing at Rs97.18 with a gain of Rs8.83.

http://thenews.com.pk/daily_detail.asp?id=120396

KSE share volume plunges to 7-year low at 30m (http://www.dawn.com/2008/06/28/ebr11.htm)


By Our Staff Reporter

KARACHI, June 27: Trading volume on the Karachi Stock Exchange on Friday fell to a seven-year low at 30m shares as investors kept to the sidelines owing to political uncertainty and the absence of leading brokers who remained busy with the formalities of the rollover week after the expiry of the matured June settlements.

The KSE 100-share index was off by 99 points at 12,353.19.

However, it was not the lowest total as an all-time single-session low was recorded at 15.141m shares on Sept 3, 2001 after the full implementation of T+3 trading system. The second lowest figure was hit at 16.565m shares on Oct 8, 2001 after the US attacked Afghanistan and the highest so far at 1.122 billion shares on April 16, 2004 owing to heavy buying in OGDC, PTCL at the time of their debut.

Some analysts also attributed the steep fall in the volume figure to the rollover week as the matured June settlements were rung off the board and the July contracts assumed the role of ruling deliveries. Clearing problem faced by some of the brokers was another aiding negative factor, they added.

“The share business appears to be in a real trouble as investors are not inclined to put fresh money in stocks owing to an uncertain future outlook,” brokers said.

The shares market suffered fresh pruning as a section of investors indulged in profit-selling on a number of counters at the inflated levels amid light trading but there were not many willing buyers.

Analysts said it was the extension of Thursday’s late selling as investors were not inclined to hold onto their long positions even on the blue chip counters due to law and order situation in the tribal areas and negative US comments on the prevailing conditions in the border areas.

The KSE 100-share index finished with a fall of 98.89 points at 12,353.19 as compared to 12,452.08 a day earlier, reflecting the weakness of the leading base shares. Its junior partner the 30-share index was marked down by 134.16 points at 14,459.14.

...

Pakistan shares end 15-day slump

http://newsimg.bbc.co.uk/media/images/44844000/jpg/_44844367_44841214.jpg
There was an emergency session after Thursday's protests

Pakistan's main share index closed slightly higher on Friday, breaking a run of 15 consecutive days of falls.

It followed Thursday's emergency late session at which brokers bought 4.5bn rupees ($64m; £32m) of shares from investors desperate to exit the market.

There had been violent protests earlier on Thursday from angry investors who smashed stock exchange windows while calling for a temporary trading halt.

The KSE 100 share index ended Friday up 21.8 points, or 0.2%, at 10,234.78.

Pakistani shares have been falling steadily since the new government came to power three months ago.

Investors are concerned about whether the government will be able cope with the country's inflation, or its trade and budget deficits.

The KSE 100 index has fallen 12.5% this week and is down 35% from its record high reached in April this year.

http://news.bbc.co.uk/1/hi/business/7514187.stm

Pakistan To Launch Share Market Stabilisation Fund
Tuesday July 22 2008
By Sahar Ahmed

KARACHI, July 22 (Reuters) - Pakistan hopes to start using an equity market stabilisation fund worth 20 billion rupees ($282 million), finance minister Naveed Qamar said, in the wake of 30 percent fall on the benchmark index <.KSE> since April.
Speaking at the Karachi Stock Exchange (KSE) on Tuesday, he said the National Investment Trust (NIT) will manage the fund.

"We intend to move through NIT and give a substantial amount of boost to the stock market through the NIT, I think we can start with 20 billion rupees and hopefully start in this week," Qamar said. The fund was proposed earlier this month by the Karachi Stock Exchange and the Securities and Exchange Commission of Pakistan (SECP). The KSE index fell to 10,036.14 last week from a life-time high of 15,739.25 points on April 21.
Qamar, the privatisation minister who also took charge of the finance portfolio after a coalition partner pulled out of the cabinet in May, said the three-and-a-half-month-old government was focussed on the macroeconomic challenges facing Pakistan.

Inflation running at over 21 percent is at its highest in three decades, the fiscal and current account deficits are unsustainable, and foreign exchange reserves barely cover three months imports.

Qamar said Pakistan was in talks with Saudi Arabia to defer payments for crude oil sales during the current fiscal year. "There will be an announcement soon from Saudi Arabia, which will have a very positive affect on our current account position," he said.

Earlier this month the Financial Times newspaper reported that Saudi Arabia had agreed in principle to defer payments for crude oil sales to Pakistan expected to be worth about $5.9 billion during the current 2008/09 fiscal year (July/June).

Qamar said there were hopes that Prime Minister Yousaf Raza Gilani's visit to the United States later this month will help raise prospects for non-military aid. Last week, two U.S. senators unveiled a $7.5 billion, 5-year aid bill for Pakistan aimed at boosting civilian ties. The government also plans on bringing its net borrowing from the central bank to zero percent to reduce pressure on the bank to maintain a tight monetary stance.

As of June 28, with two days left until the end of the 2007/08 fiscal year, the government's incremental borrowing from the State Bank was 633 billion rupees ($8.9 billion). The State Bank Governor Shamshad Akhtar had her first visit to the KSE on Monday and dealers said she reinforced expectations that interest rates will be increased.

Qamar said the KSE's demutualisation was passed in the Finance Bill and the SECP chairman Razi-ur-Rahman said it should be completed in the next 3 months. (Editing by Louise Ireland/Simon Cameron-Moore)

http://www.guardian.co.uk/business/feedarticle/7669577

Pakistan shares end 15-day slump

http://newsimg.bbc.co.uk/media/images/44844000/jpg/_44844367_44841214.jpg
There was an emergency session after Thursday's protests

Can anyone tell me, what is that thing that he's holding??? :?

http://futurist.typepad.com/photos/uncategorized/stock_market.jpg

LINK: http://futurist.typepad.com/my_weblog/2006/07/stock_market_ca.html

Does anyone know about the Market Capitilization of the Lahore & Islamabad stock exchanges in US Dollars??? I really wanna know.

Couple a hundred dollars

Couple a hundred dollars

:rofl:

looool

Don't worry, I found it.

ISE:

At the moment there are 248 companies/securities listed including 6 Open- End Mutual Fund and 4 TFCS on the Exchange with an aggregate capital of Rs. 554,653.483 million. The market capitalization stood at Rs. 259,1458.088 million as on 23-07-2008 . The pace of listing has remained slow as the economy of the Country is under consistent pressure due to internal as well as external factors.

http://www.ise.com.pk/ise%20website/organization/organization_main.htm

LSE:

The market capitalization of LSE stood at Rs.2.693 trillion equivalent to US$45 billion approximately, on July 01, 2006 and Rs.3.860 trillion equivalent to US$64 billion approximately, on June 30, 2007, representing an increase of 43% for the period.

Under "Stock Market Performance"

http://lahorestockexchange.com.pk/MD.aspx

KSE:

Total Market Capitalisation - Rs, Upto 01-08-2008: 3,178,490.43. Down from 4,329,909.79 in 31-12-2007.

http://www.kse.com.pk/ Under "Progress Report"

Can someone please convert these figures into US Dollars for me please?
I got this for both KSE & LSE for 2004:

Market Cap.
(US$ mill)

Karachi Stock Exchange, Pakistan 28,900

Lahore Stock Exchange, Pakistan 28,232

http://www.dinarstandard.com/finance/StockMarkets071505.htm

These figures are monumentally wrong regardless of the source. LSE and ISE combined won't equal a couple of companies' value in KSE.

These figures are monumentally wrong regardless of the source. LSE and ISE combined won't equal a couple of companies' value in KSE.

why?

What do you mean why? What kind of a question is that?

you said the numbers were wrong. i dont understand why you think the other two stock exchanges equal a few companies on KSE?

The Pakistani economy is almost equal to United State's. Do you see anything wrong with that statement?

The Pakistani economy is almost equal to United State's. Do you see anything wrong with that statement?

no, the sentence is structured quite well. although i cant say the same about the writer :lol:

but seriously though, there reason i asked you was because there is no reason that the LSE and the KSE cant have the same market capitalization.

i think you are thinking that the companies listed on the KSE are large multinational corps hence the market capitalization cant be the same. but what i think you dont realize is that the same company can be listed on multiple stock exchanges, so the companies on the KSE are also listed on the LSE. get it now??

and also the 75 or 80 billion market cap is not really a big one so it is very achievable by mulltiple markets in one country. when the market cap reaches a trillion, then you might start seeing differences.

You're hopeless. Of course, they CAN have, but they DON'T. Those stock exchanges are there just to make those 2 cities happy. Seriously, I'm surprised that someone needs to actually find a figure to figure that one out.

how much do you wanna bet? i dont think you checked, but i did check and they DOO have the same companies!!!

If they have the same companies, then their worth is coz of their shares being traded on KSE. That is pretty unfair. Kind of like assessing the value of OGDCL by multiplying the worth of their shares by 20 coz only 5% are traded. That is very misleading. BTW, from what I know, there were talking of uniting the three exchanges, maybe that's happened and the companies are listed on all three exchanges. But let's see where they are ACTUALLY traded. Theoretically, yes, that will make you correct, but we know where the actually thing is being traded, and taht's not LSE. Let me compare the trade volumes.

But of course, if thru multiple listings the value is the same then you win this argument. :)

thank you :) and i do think youre correct in suggesting that the trading volume is probably higher in the KSE than the LSE. but the LSE and ISE provide an alternate platform for trading since our cross country trading technology probably isnt as sophisticated as other countries.

plus I think its a good idea to have different stock exchanges, regional exchanges will open doors for our local companies to be able to attract investment. a company from Balochistan can list itself in different exchanges depending on where it thinks the investors would be more interested in investing.

You're hopeless. Of course, they CAN have, but they DON'T. Those stock exchanges are there just to make those 2 cities happy. Seriously, I'm surprised that someone needs to actually find a figure to figure that one out.

If they have the same companies, then their worth is coz of their shares being traded on KSE. That is pretty unfair. Kind of like assessing the value of OGDCL by multiplying the worth of their shares by 20 coz only 5% are traded. That is very misleading. BTW, from what I know, there were talking of uniting the three exchanges, maybe that's happened and the companies are listed on all three exchanges. But let's see where they are ACTUALLY traded. Theoretically, yes, that will make you correct, but we know where the actually thing is being traded, and taht's not LSE. Let me compare the trade volumes.

But of course, if thru multiple listings the value is the same then you win this argument. :)

I do think that Siamu has a point. I didn't even believe one of those links that I provided about LSE almost equalling KSE's Market Capitilization. Its true that shares of the same company are actually traded only on KSE. About "uniting the three exchanges", what I read about that was, that first ISE and LSE wanted to merge as on their own they couldn't compete with KSE. Together they had a better chance. Then there was this other proposal by ISE to merge all 3 exchanges, but KSE turned it down as it would have automatically inflated the market cap of ISE & LSE and not been of any benefit KSE. I read that it would have actually worked against the interests of KSE.

But I do agree with s6demon that there's nothing wrong in having regional stock exchanges. I hate to compare us with India as many Indian forumers would dive into an hissy fit with their assupmtion that we are always talking about India. But its the best regional example that I can give about having loads of regional stock exchanges. Look here: http://en.wikipedia.org/wiki/List_of_South_Asian_stock_exchanges

I personally believe in 1 major stock exchange. Our stock exchanges' market cap is teensy weensy, no need for setting up Jumma Bazaars in every city.

PESHAWAR, Aug 3: The Awami National Party-led provincial government is in the process of establishing a business city and stock exchange in Peshawar to boost trade activities and create job opportunities for youths.

This was stated by Gulmina Bilal, member of the ANP’s working committee in a statement here on Sunday. She claimed that the World Bank had resumed financial assistance to the Frontier province due to the party’s ‘good policies’.

Ms Bilal said the provincial government had extended the services of the more than 1,000 contractual lecturers, who were terminated during the former MMA-led government. The ANP, she opined, was an ideological political force that sought to serve the masses without any discrimination.

Unlike the past rulers, none of the ANP ministers or leaders had proceeded abroad for treatment on the tax payers’ money, she said, adding law and order situation was being given attention and recruitments in the police department were underway to cope with the growing militancy in the violence-hit districts of the province.

Ms Bilal vowed to render every effort to improve the law and order situation in the province and to safeguard the lives and property of the people. The ANP, she said, was following the path of ‘talks and negotiations’ with militants, because the party’s politics revolved around ‘non-violence’.

However, she said, the government would use all measures to establish its writ wherever needed. Under the leadership of Asfandyar Wali Khan, she said, the ANP workers were united to implement the manifesto of the party for the betterment of the people.

I personally believe in 1 major stock exchange. Our stock exchanges' market cap is teensy weensy, no need for setting up Jumma Bazaars in every city.

well you wont be too happy with the above news then. :lol:

large countries have more than one stock markets. how do you expect local companies to attract investment, or the investors to find new investments.

Yeah, it's horrible news. Good thing is that Taleban will bomb it soon, so nothing to worry.

well thats gonna make the taliban stock plummet.

well thats gonna make the taliban stock plummet.

No, stocks are haram, the Taliban do not deal in such vile thin, and, it is mandatory on all Muslims to burn any such haram exchanges if they have the capacity to do so. If they are not capable of destroying them, they must strap explosives and steel pellets to their bodies and detonate it at the entrance to these exchanges and cause as much damage as possible.

Doing so, they shall be called shaheed and will be rewarded by 40 virgins.

i thought it was 70? is zardari taking a percentage out of that too? that bastard.

i thought it was 70? is zardari taking a percentage out of that too? that bastard.
The stocks of the virgins have also plummeted.

Congratulations, the KSE-100 Index has slipped below 10,000 points:

KSE-100TM Index 9902.35

its because of the political uncetainty. ghadarri was on geo last night talking about impeaching mushi.

Feb-03 - 2,399.14
Aug-03 - 4,542.35
May-04 - 5,555.86
Dec-04 - 6,222.27
Mar-05 - 10,510.85
Oct-05 - 9,011.79
Jan-06 - 10,612.87
Nov-06 - 11,297.67
Jun-07 - 13,805.55
Nov-07 - 14,330.90

Most recent:

Feb-08 - 15,155.68
Mar-08 - 15,333.97
Apr-08 - 15,739.25
May-08 - 15,201.27
Jun-08 - 13,282.71
Jul-08 - 12,276.22
Aug-08 - 10,498.14 9,469.98 (lowest)

http://finance.yahoo.com/q/hp?s=^KSE

:cheer:

omg, this ppp gov is gonna destroy the economy. the dollar has hit 75 rupees !!

You want that too, here we go:

USD-DD/TT 75.6
CAD 70.35
EUR 112.5
GBP 141.7

http://www.kkionline.com/

:cheer:

damn you gadarri and ganja !!!! :cry:

What is the Planning Commission of Pakistan? Because the guy who headed it from 2000-2006 wrote in DAWN yesterday, and he claimed Mushy's government made up most of the stats to give an illusion of growth. He was basically saying Mushy lied outright, and real growth was 2% or something.

What is the Planning Commission of Pakistan? Because the guy who headed it from 2000-2006 wrote in DAWN yesterday, and he claimed Mushy's government made up most of the stats to give an illusion of growth. He was basically saying Mushy lied outright, and real growth was 2% or something.

That is utter nonsense! You dont have to be an economist to gauge the growth Pakistan has witnessed in the Musharraf era! These fucking bastards who are aligned with the stealing, lying, cheating, pilfering politico's would say or do anything do further their agenda. Filth! ABSOLUTE FILTH!

Even if Musharraf was lying, how come the Rupee was stable at Rs. 60 for so long and nose-dived after democracy? Oil prices were going up in his time too before someone comes up with that.

I think he said something about the Rupee being stable during Mushy's era as well. Let me try and find the article.

The whole world credited the economic growth, our ratings went up, stocks went crazy, telco sector went crazy, you don't need some guy to tell you that.

He was ranting against the IMF and World Bank, saying we gave up our economic sovereignty to them. He said this current crash has happened as a result of Mushy's policies and because we followed the advice of the IMF/WB.

God dammit why can't I find the article?

Well here it is. He didn't say anything against the IMF/WB. That was a different article I also read.

The economic chargesheet

By Dr Pervez Tahir

THE constitutionality, legality and the morality of Musharraf’s impeachment is doubted by few. But many, and this includes some supporters of impeachment, seem to believe that he did turn the economy around. This is patently false.

An illusion of turnaround was created by imposing a wrong strategy of growth, sustained by a series of commando actions to enforce a culture of being economical with the truth. No wonder, when the inevitable meltdown occurred, it was simply unstoppable.

Take the criminal choice of growth strategy first. Any economist will tell you that growth in national income, the so-called GDP, can be achieved by promoting consumption, investment or net exports. The choice among these depends on the stage of development of a country. While net exports are good for both developed and developing countries, consumer spending dominates growth in the former and investment in the later. The reason is that developed countries have already accumulated a sizeable stock of capital while developing countries like Pakistan have not.

Growth under Musharraf has been driven by consumption. For example, GDP at market prices grew at six per cent in 2007-08. Consumption at 6.5 per cent, however, exceeded the GDP, the extra consumption coming from imports. Investment made a negligible contribution. Again, consumption-led growth has been contributed by the predominance of the services sector. In the past eight years, the average annual growth of services was 6.2 per cent, higher than the GDP growth of 5.6 per cent. The commodity-producing sector, important for livelihoods, grew far less at 4.9 per cent. The most pro-poor sector of agriculture posted the lowest growth of 2.8 per cent. The sector of the rich and the powerful — finance and insurance — achieved the highest growth at 14.4 per cent.

In the years of Musharraf as chief executive, the GDP growth was very low. In 2000-01, it was around two per cent which deeply upset him. All illegitimate governments focus on the economy to have a semblance of legitimacy. The Shaukat Aziz team, which was still trying to get its feet wet, assured it would correct the situation.

The correctives applied were two-fold. On the one hand, the staff of the Federal Bureau of Statistics (FBS) was put on the mat and asked to ‘improve’ its collection arrangements and methodology. On the other hand, the State Bank was drawn into financing a consumption-oriented growth strategy by co-opting the ‘autonomous’ governor into the official economic team.

The dirty work of threatening the suppliers and processors of data in the name of the ‘big boss’ was assigned to the economic advisor, who being a contract employee was all too eager to be ‘result-oriented’. Secretaries in charge of Statistics were put on notice, the most pliable of them working effectively as director general of FBS, a lower post but one crucial to manufacture desired outcomes.

After this, GDP growth never looked back. It went up and up to reach the peak of over nine per cent in 2004-05. Early estimates had shown this growth to be around 6.6 per cent mainly because agriculture had done extremely well. But this quite respectable growth was not satisfying the ‘dream’ economic team. A commando action jacked it up first to 7.5, then 8.4 and eventually to above nine per cent. There was an implicit consensus from then on that growth would never be allowed to fall below seven per cent. Any deviation from this implicit consensus led to explicit interventions. The lying about the wheat output last year provides a graphic example of how the much-trumpeted growth was won by the Musharraf regime.

Sectors which do not have a very reliable database and those dependent on occasional surveys suddenly started to show high growth rates. This was done when major crops and large-scale manufacturing, with relatively more reliable data, could not justify the magic growth number. Thus minor crops, small-scale manufacturing, informal services and transport made their contributions in the hour of need. Sectors under the control of government, such as public administration and defence, electricity and gas distribution came in handy to fill any gaps that remained. The Shaukat Aziz Sector, i.e. finance and insurance, danced to his tune.

Growth and investment have to match for credibility. In the beginning, the slow-moving investment was explained away by claiming higher productivity. When the argument became unsustainable, investment was also jacked up without conducting any detailed enquiry or survey.

Fudging was perfected to an art form, and was fully ‘responsive’ to public concerns. Prices have always been of great concern to the public. This used to be the permanent item, number one on the agenda of the Economic Coordination Committee of the cabinet meeting nearly every fortnight. Spurious regional comparisons coming out of this meeting are well-known.

What is not known is that if the price of a commodity showed an unpalatable rise in some area, the problem was always ‘fixed’ by the next meeting, with the chair claiming the success of the ‘measures’ taken and telling the PR staff, no, dictating the text to be sure, what to highlight in the media. Inflation thus remained low in the five to six per cent range. Part of the reason why inflation recently has been extremely high is that prices are being reported as received.

With growth high and inflation low, policy consistency required that poverty must fall. In 2001, the correct survey-based estimate was 35 per cent, implying a rising trend but it was announced as 32 per cent. Even this was not published for a long time and was officially questioned in a smaller subsequent survey supervised by the economic advisor. The survey for 2005 was a well-planned operation. The data was not released and results announced until commando action in the computer centre of the FBS did not, by an iterative process, yield the desired result of 24 per cent. By re-fixing the poverty ratio for 2001 at 34 per cent, it was claimed that poverty had come down by 10 percentage points between the two years.

The success on the poverty front could not have been allowed to be contradicted on the employment front. Commando action in the Labour Force Survey added two to three million new jobs.

To recap: the chargesheet against Musharraf must include (a) the active promotion of conspicuous consumption of the rich by ignoring the sectors on which the large majority of the people depend and creating a bubble rather than sustainable growth; (b) the destruction of the integrity of the statistical system. While Shaukat Aziz is absconding, all other members of the team continue in important positions hoping for the return of the big boss. The responsibility rests in his person as much as his chosen economic team because efforts to tell him the truth met with his displeasure.

The writer was chief economist of the Planning Commission in 2000-06.



http://www.dawn.com/2008/08/12/op.htm#1

Let's suppose everything he did was wrong, but what about what our current two leaders did in their time?

I absolutely loathe reading people's bitch fests!!! So I will read that "article". When I'm EXTREMELY bored!!! :sleepy:

And please summarize it for me.

KARACHI: Karachi Stock Exchange (KSE) witnessing one of the worst crises in its history further crashed by 430 points, breaching even the psychological barriers of 9,000 marks, while the rulers locking horns wasting all their energy in letting down each other and the cautious authorities reluctant to take any initiative for if not salvaging the sinking KSE, at least keep it afloat.

The Benchmark KSE-100 index dipped by 430 points stood at 8999 points until the filing of this report.

It may be recalled that the analysts have attributed this worsening situation in KSE to intensifying political instability, countrywide worst load shedding and the lackadaisical attitudes of the local and foreign investors, who kept waiting on the sidelines and refrained from taking any new position.

Sounds really bad....Does anyone know what was the highest point of KSE and when..??The problem is all around the world but I think it has to do something with the soaring inflation as well which is again a global problem.....

^^I think it has something to do with our current political fiasco and the clowns who are running the country (or trying to ru(i)n it).

Sounds really bad....Does anyone know what was the highest point of KSE and when..??The problem is all around the world but I think it has to do something with the soaring inflation as well which is again a global problem.....
It was above 14,000 some months back.

Iti s actually due a whole plethora of reasons but the driving force behind this slump is the ongoing political instability and the Governments preoccupation in matter of lesser importance. The rupee is going bellyup and the State Bank cannot do much to control it because our reserves are fast depleting. The FDI has all but dried up and now the investors are taking their money out of the economy to invest in more lucrative enterprises in more stable economies, mainly in the Middle East. Furthermore, there is a severe electricity shortage which is quite literally ruining the newly established industries that were setup over the past 7-8 years.

Karachi has been the hardest hit, I have many friends with multiple industries and they are all suffering due to this shortfall. The KESC has failed to properly allocate whatever little resources it has to make sure that industry remains the first priority. People can live without electricity but they cannot survive without jobs.

KARACHI: Karachi Stock Exchange (KSE) in the persistent grip of bears saw the index nose-diving below 26 months’ lows, while the KSE members in panic held an emergency meeting at 3.00 P.M., when several proposals including capping the KSE-100 index at 9,000 were mulled over, but in the absence of arriving at a consensus with the Securities and Exchange Commission (SECP), none of the proposals could be finalized.

KSE continues witnessing one of the worst slumps, eroding almost 45 percent in its 100 index during the last four months. The financial market appears worst hit by the ongoing political tussles between two major parties once in alliance and now flexing muscles against each other.

Earlier KSE-100 index was seen at this low on June 14, 2006. On the other hand, KSE senior members told Geo News that the members of KSE Board in the wake of the crash in the market Tuesday tried contacting Federal Finance Minister, Naveed Qamar, but despite best efforts couldn’t get him. Stockbrokers blamed the government for not making any sincere efforts for salvaging the sinking market. They said that the Support Fund set up for this purpose has thus far made purchases of only Rs4 billions, while it was issued a grant of Rs20 billion.

-The News

On the other hand, KSE senior members told Geo News that the members of KSE Board in the wake of the crash in the market Tuesday tried contacting Federal Finance Minister, Naveed Qamar, but despite best efforts couldn’t get him.
-The News

I think I know where he is....he's busy distributing laddoos to passengers arriving at Hyderabad Airport.