Karachi: open interest of stocks increase by Rs. 230.80 million
An increase of Rs. 230.80 million has been witnessed in the open interest rates of the future trading in the stock market, trendpk.Com reported on Sunday.
Open interest of future counter increased by 33% to reach 940.70 million rupees. Future spread augmented by 1% to become 8.910%.
The volume of futures increased by 33% to become 7.1 million shares due to increased trading in Ready market.
Deals of PSO, POL, MCB, National Bank, ENGRO and Nishat Mills remained prominent. The collective share of all these companies remained 76% in the open interest.
KSE plummets 435 points
Karachi Stock Exchange (KSE) remained volatile during the current week while the 100-index shed 435 points level.
Limited business activity was witnessed due to imposition of Capital Gain Tax. Trading started with positive note but selling pressure pushed the market in negative zone.
At the end of day, KSE 100-index closed at 9,823 points.
Oil falls below $72 on stronger dollar
SINGAPORE: Crude prices fell below $72 on Wednesday on a slightly stronger U.S. dollar, reversing earlier gains of as much as 0.6 percent boosted by forecasts of a second weekly fall in U.S. inventories.
Prices tracked volatile equities in the past two days, paring gains on Tuesday after a report from the Institute for Supply Management (ISM) showed a slowdown in the U.S. service sector. But the expected tightening of U.S. crude and gasoline supplies allowed oil to shrug off falling Asian equities on Wednesday.
U.S. crude for August fell 24 cents to $71.74 a barrel by 0706 GMT on Wednesday after advancing as much as 40 cents to $72.38 a barrel earlier. ICE Brent for August fell 25 cents to $71.20.
“Yesterday”s non-manufacturing data fell more than expected, so investors have a wait-and-see approach,” said Serene Lim, a Singapore-based oil analyst with ANZ.
“The market is pricing in a drop in crude inventories, but if inventories fall less than expected, we might see prices falling.”
U.S. crude stockpiles probably fell 2.6 million barrels in the week to July 2, a survey showed on Tuesday, as imports may have dropped for a second straight week.
Gasoline inventories were forecast down 300,000 barrels on average, following a surprise modest build in the prior week, while supplies of distillates, including heating oil and diesel, probably posted their sixth straight weekly increase, adding 1.5 million barrels.
The American Petroleum Institute will publish weekly inventory data on Wednesday at 2030 GMT, followed by government statistics from the Energy Information Administration (EIA) on Thursday at 1500 GMT. Both reports come a day later than usual because of the independence day holiday on July 5.
Asian stocks fell on Wednesday as investors worried global growth was faltering, while the euro held near a 7-week high as investors pared long positions in the dollar on doubts about the resilience of the U.S. recovery.
“Investors are still very concerned about the economic outlook,” said Lim, adding that prices may test the $68-$70 range before the end of the month.
“I don”t think oil could decouple from the stock markets. It”s quite highly correlated these days. Whatever is going to happen in the stock market will have some impact on crude prices.”
A weather system over Mexico”s Yucatan peninsula and the eastern Gulf of Mexico had a 30 percent chance of developing during the next two days into a tropical cyclone, a category that includes tropical storms and hurricanes, the U.S. National Hurricane Center said late on Monday.
The system”s course so far has been similar to that of Hurricane Alex, which in late June forced Mexican oil terminals to shut and U.S. producers to curb output.
Global oil output will rise faster than first expected in 2010 with a strong rebound in prices from the depths of the crisis ensuring growing demand will not stretch supplies for at least another year, a Reuters poll of 10 top oil-tracking analysts and organisations found on Tuesday.
KSE-100 Index regains 204 points to close at 9499
KARACHI: Fresh buying at Karachi Stock Exchange (KSE) helped the benchmark KSE-100 Index recover 204 points to close at 9499.
Today’s trade began in the positive zone and remained in the green territory throughout the session.
The reports of launching of new products in the stock market prompted investors to take new positions, particularly, in banking and cement sectors.
The market turnover was recorded at 110 million shares with Lotte Pakistan heading the actives at Rs9.14, up by Rs1.
On the other hand, KSE-30 Index surged by 241 points to peg at 9,422.
KSE witnesses bullish trend
Karachi Stock Exchange (KSE) witnessed bullish sentiment and 100-index closed above 9,600 points level.
Selling was seen across the board from the start of the business. Local investors and funds took benefit of the situation. At the end of day, KSE 100-index closed at 9,611 points with an increase of 183 points. Trading volume remained 100 million shares.
tradeworx
May 17, 2010 by Trend PK
Filed under World News
Speedy New Traders Make Waves Far From Wall Street
enjoy these great tradeworx headlines and other tradeworx information. Check back again soon for more of the hottest headlines on tradeworx.
Speedy New Traders Make Waves Far From Wall St.
Above the Restoration Hardware in the Jersey Shore town of Red Bank, not far from the Navesink River, lurks a Wall Street giant. Here, inside the humdrum offices of a tiny trading firm called Tradeworx , workers in their 20s and 30s in jeans and T-shirts quietly tend high-speed computers that typically buy and sell 80 million shares a day.
Above Restoration Hardware in the Jersey Shore town of Red Bank, not far from the Navesink River, lurks a Wall Street giant.
Here, inside the humdrum offices of a tiny trading firm called Tradeworx, workers in their 20s and 30s in jeans and T-shirts quietly tend high-speed computers that typically buy and sell 80 million shares a day.
But on the afternoon of May 6, as the stock market began to plunge in the “flash crash,” someone here walked up to one of those computers and typed the command HF STOP: sell everything and shutdown, The New York Times’s Julie Creswell writes.
Across the country, several of Tradeworx’s counterparts did the same. In a blink, some of the most powerful players in the stock market — high-frequency traders — went dark. The result sent chills through the financial world.
After the brief 1,000-point plunge in the stock market that day, the growing role of high-frequency traders in the nation’s financial markets is drawing new scrutiny.
Over the last decade, these high-tech operators have become sort of a shadow Wall Street — from New Jersey to Kansas City, from Texas to Chicago. Depending on whose estimates you believe, high-frequency traders account for 40 to 70 percent of all trading on every stock market in the country. Some of the biggest players trade more than a billion shares a day.
These are short-term bets. Very short. The founder of Tradebot, in Kansas City, Mo., told students in 2008 that his firm typically held stocks for 11 seconds. Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said.
But some in Washington wonder if ordinary investors will pay a price for this sort of lightning-quick trading. Unlike old-fashioned specialists on the New York Stock Exchange, who are obligated to stay in the market whether it is rising or falling, high-frequency traders can walk away at any time.
While market regulators are still trying to figure out what happened on May 6, the decision of high-frequency traders to withdraw from the marketplace is under examination.
Did their decision create a market vacuum that caused prices to plunge even faster?
“We don’t know, but isn’t that the point? How are we ever going to find out what’s going on with these high-frequency traders?” said Senator Edward E. Kaufman, Democrat of Delaware, who wants the Securities and Exchange Commission to collect more information on high-frequency traders.
“Whenever you have a lot of money, a lot of change, little or no transparency, and therefore, no regulation, you have the potential for a market disaster,” Senator Kaufman added. “That’s what we have in high-frequency trading.”
Some high-frequency traders welcome the closer scrutiny.
“We are not a no-regulation crowd,” said Richard Gorelick, a co-founder of the high-frequency trading firm RGM Advisors in Austin, Tex. “We were all created by good regulation, the regulation that provided for more competition, more transparency and more fairness.”
But critics say the markets have become unfair to investors who cannot invest millions in high-tech computers. The exchanges offer incentives, including rebates, which can add up to meaningful profits for high-volume traders as well.
dow jones today
May 7, 2010 by Trend PK
Filed under World News
Dow plummets by almost 1,000 points
A lot of stock market traders were shocked as they watch and see the stock market today plunging down at a great pace where stock prices of almost every company have fallen down. This stock market crash has so far been experienced before in the bubble burst where every company shares seemed to be worthless and of no value.
Accordingly, the Dow Jones Industrial Average or DJIA, the main stock market index in the USA have plunged down at a rapid pace losing 919 points in just a matter of 1 hour and 40 minute span. While according to somestock market analyst, this sudden stock market crash was due over the uncertainty in the Europe and the Greece financial sector in general, it was later found out that a stock market error caused the huge losses in stock market trading today.
Based on reports, CNBC told that stock market trading today in Citigroup encountered a trading error which triggered and sent the stock market into sudden collapse today.
A human committed stock market trading error at Citi caused the sudden stock market crash. According to multiple sources, a trader at Citibank entered a “b” for billion instead of an “m” for million in a trade possibly involving the stock of Procter & Gamble, a component in the Dow.
Source:www.worldcorrespondents.com
Stock markets facing losses sans de-mutualisation
KARACHI: The process of de-mutualisation of the country’ three stock markets is yet to be completed due to the government policies, leading to losses in the bourses.
Managing Director Karachi Stock Exchange (KSE), Adnan Afridi stated this while talking exclusively to Geo News after addressing a seminar here on Tuesday.
He stressed on completion of the de-mutualisation process as soon as possible by the government policy makers.
sirius
May 1, 2010 by Trend PK
Filed under World News
The market share of Sirius Radio has been experiencing a good position in the last couple of months. Overall the stock position of Sirius has returned three times the initial investment amount. This kind of market history tells that the company is doing well, but there are analysts who have predicted a fall in the stock price of the innovative radio company. However, according to owner of Sirius, the customer base is bound to increase by 7% and thus business is going to get better.
Sirius is basically a new company that has brought a relatively new concept to the radio technology. They are providing radio services via satellite and internet, in an attempt to provide centralized programming with nationwide coverage. This concept has its pros and cons. For the good part, customers would never lose radio signal and would receive unparalleled sound quality. On the negative side local programming couldn’t be provided which is at times critical for people who need local weather, traffic and social updates.
Sirius is the most advanced in technology when it comes to radios. They have numerous radio models in all categories. They have portable radios that are integrated with MP3 players. They have a huge array of car radios and car radio upgrades. They also have high powered home radios with built-in amplifiers for compatibility with home sound systems.
source:puggal
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