950829

Kerb watch

Tripak most

active

J M J

KARACHI; The new clearing with an extended settlement push the market upwards and the hope that this one time all the concerned parties are willing to reach a settlement forced the blank sellers to cover positions and book profits on Tuesday.

The PTC GDR improved to US $106.50 and US$110.50. The buyers were positive that the scrip would improve further, but this all seems to be a window-dressing where people will buy at higher rates and the shrewd jobbers will sell. The rate in the kerb was Rs 35.40.

Hubco Power improved as well to US$16.8 and US$17.38. Locally no fund manager is involved at the current stage in spite of the fact that the Bombay Stock Market would witness very little trading due to the celebrations of their good luck god for ten days. If we could have been lucky enough, the funds could have found their way into our capital market.

The most active item in the kerb was Tripak Films. Its rate was Rs 27.50 buyers and the rate could still rise higher. Some very prominent jobbers were active in the scrip and were in a buying position.

The other scrips active were Kohinoor Genertec at Rs 24 buyers, Sitara Energy at Rs 34.50 and EFU Insurance at Rs 25.50. The scrips seem to be very popular with the subscription investors as they were running pillar to post to seek various accounts.

TeleCard suddenly jacked up to Rs 50 parallel to the other scrips. The pundits call the rate a farce as the booths in Karachi are closed and the fixed costs are denting the company's profitability.

Monday's column had advised building of portfolios but utmost caution must be practised. Be wary of unnecessary rumours and keep in mind the political and violent environment, but do not miss a good buy.