http://www.thenews.com.pk/updates.asp?id=51124


Stocks continue to crash despite support efforts
Updated at: 1915 PST, Monday, August 04, 2008
KARACHI: Bears continued their onslaught on the already wounded investors at the stock market and benchmark KSE-100 Index slumped 318 points to close at 9853 – below 10,000 points.

KSE management's efforts to bail out small investors and the formation of the Market Support Fund was unable to boost investors' confidence as a weak macro economic indicators, fragile political and precarious law and order situation continued to haunt the market.

Stock brokers said there was no buying from the market support fund whereas the supervisor of the fund, chairman NIT termed this impression as wrong.

More than 130 million shares were traded today, which is 60 million shares more compared to yesterday’s trade.

NIB bank led the volume leaders which dipped by paisas 2 to close at Rs8.98.
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All you Musharraf haters can kiss my a$$.

well you better have 1 big a$$ b/c there are a lot of musharraf haters

We wouldn't be in this position if Musharraf had done his job well. Stocks markets ride on sentiments and expectations. Money isn't coming into Pakistan, primarily beacuse security situation is bad.

^^^ There was me thinking the economy performed on financial factors.... silly me.

Pakistan lost 3,500 people to terrorist attacks in 2007, the stock market remained stable as did the economy.

2008 new government, less terrorist attacks, yet the economy is down the drain.

Not as many as the haters claim. How about this? They can kiss it one by one. Pucker up y'all.





Right so the current party in power the PPP and PML-N have absolutely nothing to do with it. They have no role in destroying investor confidence. Wasting time over no-issues while the economy falters? Dont even start man.

"This is what happens when you have a casino economy." Btw, these are the kind of statements that have been coming from the ministers and the finance experts. And as far as stock markets are concerned I did post somewhere warning members on the forum to divert their funds outside stock markets. This was not my opinion. My uncle's friend is one of the director in KSE. He gave us the advice to move out of Pakistan back in May, we thank him till today for saving our hard earned savings. I know this is not very ethical for that person do, because this can be categorized as "insider trading" but again, he did not do it for his personal benefits or gains. We consulted him and he gave his advice, thats all I think about.

Sign up to any of the big trading houses in Pakistan and you will start getting their technical and fundamental market analysis. Pull up the history of their predictions and the way the market has gone on that day and you will be intrigued how market rumors are manufactured in Pakistan by the big players so that they can make a killing over the small guy. There was no basis for the 13000 index and there is no basis for this drop. That high was manufactured as is this drop. KSE is just speculation which has nothing to do with the economy. Its the whore house of Aqeel daddy, Jehangir Siddiqui and a couple of others. OGDC one of Pakistan's best companies stock price is stuck in a rut despite strong fundamentals just because BMA capital got its international offering and not Aqeel daddy. Dont let these index numbers fool you. The economy is in the doldrums and worse off under these goons then it was under Musharraf but the KSE doesnt represent ####.