Karachi Stock Exchange June 10, 2009

Today Karachi Stock Exchange (KSE 100 index) declined 39 points to be closed at 7047 points. Market started with positive index but selling in banking & energy sectors turned 100 index to negative. Most traded share was JSCL whose share price decreased .71 and closed at 24.60. As I mentioned yesterday, market was under pressure and keeping vibrating whole day. Some banks keep consistency on there price like Royal Bank, Muslim Commercial Bank (MCB). Royal Bank is showing good response and expected to be round about RS 25 with same junk speed.

Analysts are hopping that market will release pressure after budget and may get its position back to some reasnable index. Also JUNE is going to be end as fyscle year for banking sector, so there may also increase of index by the end of June and start of July as bank start announcing their results (book values). Adamjee Insurance again start keeping up unexpectdly and investors are showing interests in this share but small investors should avoid this huge monkey.

NOTE: The information posted in this blog is based on current afairs & invstors point of view. There may be discrepency in the ground realities.

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