Terrorist Attack Threat on Stock Exchanges

Posted on 11.08.06 by StockPK Team @ 1:00 pm    

Intelligence agencies have been informed of a potential terrorism strike on the country’s stock exchanges by the end of November, intelligence sources told Daily Times on Monday.

Sources said that terrorists would try to sabotage Pakistan’s economy by attacking the stock exchanges and that the intelligence agencies had forwarded the information to the relevant quarters for action.

Punjab Police IG Ziaul Hasan Khan and Sindh Police IG Jehangir Mirza were not available for comment despite repeated attempts by Daily Times. However, sources in the Punjab Police Special Branch told Daily Times that security agencies were alert to possible terrorism, especially in the aftermath of the airstrike on a madrassa in Bajaur Agency suspected of being a training camp for militants.

KSE Broker membership card costs Rs100m

Posted on 11.06.06 by StockPK Team @ 10:12 am    

The stock broker’s card at the Karachi Stock Exchange bears a price tag of Rs100 to Rs110 million. Three years ago when the then management auctioned a couple of unclaimed cards to obtain funds for renovation of the buildings, at the last call the buyers were willing to pay no more than Rs35 million a piece.

But before anyone starts to envy the 200 brokers who hold the KSE cards, he ought to look around at the phenomenal rise in prices of other assets as well.

Nafisa Dada: Obsessed with the Stock Exchange

Posted on 10.17.06 by StockPK Team @ 1:00 pm    

Forty-six-year-old Nafisa Dada has been playing the stocks for nineteen years now. And she has no regrets. Sitting over a computer in a room at her apartment, she manages both home and her trading, making sure one does not affect the other.

Dada trades online now, not like the old days when orders had to be phoned in. And she is one to take advantage of technology. In the same room as her computer, on which she places her buy and sell orders, is her trusty television set, which is usually tuned in to one of the numerous business channels that have proliferated in the past couple of years.

Share index recomposed

Posted on 09.21.06 by StockPK Team @ 2:31 pm    

The Karachi Stock Exchange (KSE) on Wednesday announced recomposition of the KSE 100-share index, to be effective from October 2.

According to a KSE notification, three companies would be excluded from the 100-index in principle including Kohinoor Textile Mills Ltd, Nishat (Chunian) Ltd and Telecard Ltd. Three companies will be included in the index, which are Meezan Bank Ltd, Kohat Cement Company Ltd and Pakistan International Container Terminal Ltd.

SECP lifts ban on short selling from Nov

Posted on 09.21.06 by StockPK Team @ 11:28 am    

Securities and Exchange Commission of Pakistan (SECP) on Wednesday decided to lift ban on short selling in futures contract from November 2006 with a condition of making necessary changes in the KAT - the trading software at Karachi Stock Exchange (KSE).

At the same time, SECP has turned down the KSE proposal to allow short selling in October 2006 futures counter that was the long standing demand of local bourse.

KSE big fish vying to arm speculators

Posted on 09.20.06 by StockPK Team @ 12:32 pm    

The Karachi Stock Exchange (KSE) has recommended to Securities and Exchange Commission of Pakistan to let ‘in-house financing’ (Badla) continue for another 30 days, instead of putting a ban on it from October 2, an official source confirmed to The News here on Tuesday.

If the SECP, the apex regulator, accepts the proposal, in-house financing would be available till November 1, 2006.

Moreover, the Karachi bourse had also asked the SECP about the lifting of ban on short-selling in 30-day futures contracts, the source added.

SECP takes U-turn on its commitments

Posted on 09.13.06 by StockPK Team @ 10:43 am    

This time too, the toothless watchdog - Securities and Exchange Commission of Pakistan (SECP) - accepted the backdoor recommendations made by the managements of three bourses at a meeting held here on September 11, 2006.

In other words, the commission declined its own proposal it made on August 30, 2006 to modify Continuous Funding System (CFS).

Surprisingly, SECP has raised the number of Continuous Funding System (CFS) eligible scrips approximately to 40-45 with effect from October 02, 2006 (The final number of scrips under this system depends on the eligibility criteria SECP put forth).

KSE breaches four barriers in reverse gear

Posted on 08.26.06 by StockPK Team @ 1:41 am    

The Karachi stock market breached four barriers in reverse gear - 9900, 9800, 9700 & 9600 - on Friday against the expectation as there was no big negative news for the day. The index plunged by 370.44 points to 9,584.79 amid low turnover.

Leading local institutions and brokerage houses offloaded their holdings to manipulate market for their vested interest, a broker said.

Index remained under selling pressure throughout the day and recorded intra-day low of 9,555.03 points.

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