Karachi Stock Exchange June 8, 2009

Today Karachi Stock Exchange KSE -100 index declined 3 points and closed at 6892. At one point, market index was above 50 points but after that selling in some sector turned 100 index to negative. After midday market show great comeback due to buying in banking and energy sectors and that caused 100-index to recover its condition somehow. Most traded share was Jahangir Siddiqui Company (JSCL) whose share price increased by .48 and closed at 24.15 rupees.

Since the news of tax on stock market (shares) on upcoming budget is released as Mr. Shaukat Tareen claimed “There will be no tax on agriculture and stock market trading”, it is hopping that market should recover back. Also as I am mentioned earlier, that market will show very good turn back by the end and start of next week if all goes well in budget which we are hopping.

The most reasonable shares to buy in current circumstances are Jahangir Siddiqui Company (JSCL), Arif Habib Securities (AHSL), DG Khan cement and some banking sectors. Not to buy shares are Atlas Honda, Adamjee Insurance etc. Investors should start taking interest in stock market as it is very good point to get in.

Regarding my last post, one of the reader asked about target price of JSCL. The answer is:

"
I think this is the best time to buy JSCL. I will suggest to you to buy half of your targeted JSCL below RS 25 and wait for budget. You will know very well that whether to buy this share any more or not.

As target price is concerned, you know is Player's Shares and they can take this to any price. I think 35-40 will be normal one."

Also please refer to comments area for your reviews and replies of posted post.

Best of Luck

3 comments:

  1. Thanks Irfan Bhai for your reply. I have alreay bought at Rs 26. I would anxiously wait for the time till your target is acheived. By the way are you recommending JSCL on some solid news or it is just your own feeling. If you don't mind can I ask what is your job?

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  2. Brother, professionally I am Software Engineer but I have great interest in stocks. As news is concerned, I put information on blog by going through various resources including some brokerage houses, some senior investors (including my old good friends) who in market since 10 years and trade in millions a day. Also I closely watch KSE history and day to day current afairs and you know most the times I get right information (if you read blog history). Anyways best of luck.

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  3. What is your target price for AHSL in 2 months time

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