Pakistan’s Software Industry

Manto....So KSE index has crossed 10,000 points ? WoW !! At this rate KSE will overtake Dow Jones (10500 points) within a couple of days. And Dow Jones is the biggest baddest and richest stock exchange in the world. HaHa !! And it gets even better...India`s BSE only has 6800 points.....lol...a sure sign that Pakistan has left India far behind , don`t ya think...


But sadly ..a little reality check. When you compare one stock exchange with another...you consider the market capitalisation. Not the index. Pakistan`s market capitalisation is $40-45 billion. India`s ?

>>

India joins $400B m-cap

from siliconindia.com ,

Thursday, March 10, 2005

MUMBAI: As Indian stock markets wait for a tryst with destiny to reach the magical 7000 mark, India became the fourth country in Asia to have a market capitalization of over $400 billion.

Only Hong Kong with a market cap of $839 billion, Taiwan $ 498 billion and China with $448 billion are ahead of India.

By the end of 2004, India’s market cap was about $300 billion and in just four months the market capitalization reached $400 billion. The Indian markets have been on roll for the last two weeks after Union Finance Minister P. Chidambaram presented the budget and the Bombay Stock Exchange has been on a dream run with hectic buying activities

Hamidm#238 & various

AQ Khan couldn`t have done all this without anyone knowing. Pakistani army, and Mushy must have known what AQK did. Surprisingly, Indian senior scientists are not known to pull off such big scams. Director of a famous nuclear laboratory was once accused by his office clerk of not paying for use of office car for a personal Delhi-Jaipur trip. Director had to settle the amount.

Netizen #253 And looks like the two governments are headed towards defusing the kashmir dispute and settling it along the lines you indicate. :-)

Netizen (your previous post addressed to me): while the nuclear bomb has indeed made pakistan secure from being overrun, some areas of military confrontation will probably linger on for some time - the most likely being in the navy where pakistan i think pakistan will seek to ensure free passage for pakistani shipping (where gwadur is being built up as a port that the chinese and central asians as well as indians may find economically viable to use in future). But hopefully, this will be more ``normal`` (like occassional canadian - US spats on fishing). At least let us hope so. Too many people living miserable lives in both india and pakistan for the babus on both sides to waste money on military confrontations.

Re: # 256

``But I thought M J Akbar was obscure too.... ``

Not that easily :)
I read M J Akbar is suing some British tabloid over Blunkett child issue.

malik: it is absurd to compare ``xerox`` khan (whose claim to fame is to have broken his contractual agreement with his employer to steal their blueprints, and to later jeopardize pakistan`s security to enrich himself by selling these and other nuclear secrets of pakistan for personal gain via his private company) with abdus salam or (for laughing out loud) with einstein (both of whom made major breakthroughs in the frontiers of mankind`s knowledge, with einstein obviously being the giant of the last millenium).

while khan basks in the glow of being the Father of the Pakistani Bomb, the fact is that he is no such thing: the nuclear bomb project was started in real earnest after 1971 - well before he had anything to do with the project. major breakthroughs were made by dedicated pakistanis who overcame severe international sanctions and restrictions to move the project forward. and he was not even the project manager during the time of his involvement. To compare his role in the bomb to jinnah`s role in making Pakistan is just as absurd as it is to compare him as a scientist to abdus salam (let alone einstein!!). You may also wish to read what I wrote to urstruly earlier on on this subject for some more facts.

I dont wish to start a paper war with you on this one, so this is my last post. But if the above makes sense, then fine. If not then fine too, you are welcome to whatever views you have. no skin off my back.

#256 by Mantolives on March 15, 2005 8:40am PT


But I thought M J Akbar was obscure too....


strawman...Where did I say M.J. Akbar was obscure? I could be wrong about this but publication, the asian age, is only in circulation in bombay....yet he`s well known to everyone...

there`s no need for you to get all worked up and dig into your jinnah quote bookmarks....I`m not disputing what the patel guy said...only making the point that mid day is a bombay tabloid and that hardly any Indian has ever heard of the seervai guy....

KSE Crosses 10 000

KSE-100 index crosses historic 10,000 pts in intra-day trade

KARACHI: The Karachi Stock Exchange (KSE) set a new record on Monday, as the index breached through the 10,000 points level for the first time on the back of heavy buying in blue chip items, particularly OGDC, said brokers.

The KSE 100-share index gained a record 394.32 points, or 4.11 percent, to close at 9,998.05 points compared to closing of 9,603.73 points in the previous trading session, according to the market report issued by KSE.

“The market had gone through some corrections last week, and has a rebounded now,” said Sajid Bhanji, an analyst at Arif Habib Securities. “It seems closing above the historical level of 10,000 points is just a step away.”

The healthy corrections during the previous week provided strength to the market to climb new heights during the current week.

Last week some of the leading items remained under pressure, especially the telecom giant Pakistan Telecommunication Company Limited (PTCL), which kept the market depressed at least for two trading sessions. However, during the depressed conditions in the volume leader, some items kept on supporting the market by resisting heavy decline and preventing panic-selling.

“It has been a smooth sailing for the index so far,” he said. “Should the fundamentals remain in favour of the market, it would not only close above the level, but manage to sustain it as well.” However, despite all the positives in view the investors must keep a close eye on stocks and their statistics before adding the same to their portfolio. Tanvir Abid, an analyst at Live Securities Limited, said the investors jumped back in to the market with fresh buying which is evidenced by the increased volumes.

During the session 397 stocks were traded, value of 234 improved while 132 declined. Share value of 31 companies remained unchanged.

Total trading volume rose by 6.6 percent to 675.98 million shares compared to 633.72 million shares in the previous session.

While market capitalization improved 3.5 percent to Rs 2.73 trillion as against total capitalization of Rs 2.64 trillion in the previous trading session.

Oil and Gas Development Company Limited (OGDCL) was at the volume leader’s position with trading volume of 180.45 million shares. Its share value improved by Rs 12.30 to close at Rs 176.55 from opening of Rs 164.25.

Pakistan Telecommunication Company Limited (PTCL) was second with trade of 105.54 million shares and its stock price increased by Rs 1.30 from the previous level of Rs 86.85 to close at Rs 88.15. Fauji Fertilizer Bin Qassim was third with trading volume of 52.69 million shares. The stock value moved up by Rs 2.60 to close at Rs 37.90 compared to the opening at Rs 35.30. Stock price of DG Khan Cement gained Rs 5.20 from opening at Rs 74.80 to close at Rs 80.00. Its 45.6 million shares were traded. Sui Northern Gas Pipeline Limited (SNGPL) appreciated by Rs 5.25 from Rs 73.00 and closed at Rs 78.25 with trading volume of 36.45 million shares. Share price of National Bank of Pakistan (NBP) moved up by Rs 3.55 to close at Rs 159.50 compared to the opening level of Rs 155.95 while its 29.8 million shares were traded.

At the futures counter OGDCL-March was the volume leader with trade of 135.8 million contracts. Its price gained Rs 12.55 to close at Rs 180.10 from the opening rate of Rs 167.55. On second position was PTCL-March with volume of 91.84 million contracts while its prices moved up by Rs 1.60 to close at Rs 90.20 from Rs 88.60. Pakistan Petroleum Limited (PPL)-March was third as its 64.9 million contracts were finalized. Its stock value gained 50 paisas to close at Rs 311.10 from the opening rate at Rs 310.60.

Mr Abid said the market has reached the level only with some developments regarding the privatization of major market moving items and if it receives some solid news related to the proceedings it would find ground to sustain the achieved levels. Otherwise there could be heavy selling, he predicted. —Staff Report

Re: # 248

ooooops:

I meant No one can dispute this ....

We did steal the technology...

At best .... A Q Khan can be considered a great smugglar....

Re: # 248

No can dispute this ....

Re: # 255

But I thought M J Akbar was obscure too....

manto: I`m not exactly seeking your forgiveness...IF you want to believe mid-day isn`t a tabloid, fine...If you want to believe Aakar Patel is as ``big`` as Saeed Maqvi or M.J. Akbar, fine...If you want to believe mid-day is the wall street journal(dalal street journal), fine...

to each his own delusions...you`re forgiven for that..being a pakistani, you have a good excuse

#229 by rsridhar on March 15, 2005 5:37am PT
re:#174 by satyamvada
”Who the hell is Aakar Patel anyway? Never heard of him. I would take notice if someone like Saed Naqvi had written that article.”

Not exactly that bum Saeed Naqvi! Even more respectful. He at least is a professional!

“The truth is that having widely traveled out of my country and having played host to many a foreign guest, I have yet to come across people like our Pakistani friends whose warm conviviality and kind hospitality can be matched only by the love and friendship of which they are a delightful quintessence.
It was 5.30pm on Thursday (Feb 19) when 40 members of the Indian Saarc law delegation - only three amongst them being Muslims - boarded a PIA flight from Delhi to Lahore and were specially welcomed by the captain just before being airborne.

In less than an hour, we were walking into the splendid international arrival terminal of the Allama Iqbal International Airport. The elegance of the airport made me remember a Persian ode of the great poet after whom the airport has been named.

At about 10pm, we were airborne for Karachi and landed in Karachi at 11.45 sharp. A more bravura airport and a warmer reception.

The moment your ``Indian`` identity is disclosed, you find oodles of people rushing up to you, wishing to talk to you, offering local assistance and wanting to load you with gifts.
While the onyx seller in Sadar sells you a thousand-rupee vase for Rs500 because you are an Indian brother (Hindustani bhai), the local PCO-wallah refuses to charge you for phone calls made back home as you are his guest (mehmaan) and your host driving you around Karachi - whom you have met for the first time - does not let you pay even for the most expensive designer wear purchased from the most upmarket mall. “

Syed Said Mahmood is an Advocate, Supreme Court of India, and doctoral scholar, Amity Institute of Advanced Legal Studies, New Delhi

Re: # 240 tahmed

In his autobiography, Lee Kwan Yew has written about his meeting with Nawaz Sharif (when Sharif was the PM). Sharif asked Lee how can he transform Pakistan into Singapore. To which Lee asked him to resolve the Kashmir dispute first. Sharif expressed his inability to do so, saying that the army would kill him if he tried to do so. Then Lee suggested about some importation of some taxi`s (?), which (if I am not wrong) Nawaz did introduce in Pakistan.

The bottomline: resolving Kashmir would help both the nations. Of course India will allow Pak to keep PoK but will never give IoK, it is upto Pak to decide how far it will keep trying.

Re: # 244

Its alright... you are delusional... but the fellow... who wrote 246 is even more so.

So I forgive you.

tahmed : ``India is neutralized as a military threat ``

Huh? Okay....you are the expert...

Romair # 70

``Alcohol and accessive sex are two things that have damaged the West more than anything else.``

Hmmm, I guess I wanted to come here just to be damaged then...but heck, I still ain`t getting the excess sex. Damn!!!!!