The KSE-100 rollercoaster ride
April 19, 2006
As expected the market was struggling to go upwards to newer highs in the morning and towards the last hour of the day nose-dived down to 11,759.46 , a whopping 356 points minus. Everything went to shit , PPL to lower cap, BOP to lower cap, POl tumbled down to 665 from a 718 high, & Orgydc banged down to 156 . It then made an incredible 300 point recovery from 11,759 to close 67 points minus at 12,048. So from the open Vaseline jar to putting the lid back on in 30 mins. Not a market for the faint-hearted. Hopefully it will resume to make headway towards 12,300.
POL announced a 50% Bonus after 3 years and Rs.33.EPS
Oil makes a record high of $71.35
The market got bashed down towards the end and all the cement stocks were royally fucked. ORGYDC is correcting down from its wild upward spike towards 171 and POL came off to below 700. Whether the downside will continue and break 12k remains to be seen 2moro.
The market started the day with cements being bashed down, due to an anouncement by the Govt. about allowing duty free imports of cement from India with a Rs.60 freight subsidy per bag , making the price a 30% discount to the current mkt. rate at Rs.276 per bag. ORGYDC soared to 170.5 and POL to 722. FABL bashed down to its second cap hitting a low of Rs.66.5. The market recovered including Lucky & DGKC making an intra-day high of 12,293.84 and closing at an all time high of 12,273.82
The market remained up for the first half and then in the second half had a big dive down to -15 points at 12,045.63 having witnessed an all time intra-day high of 12,142 earlier. With oil prices at $ 69.45, POL went through the fucking roof closing at 703.65 at its upper limit and all time high. PPL finally moved , closing at 282. FABL was fucked down to its lower limit after its results were announced today. UNBL broke its cap and went down to 74.5 and then went upper cap again. Rumours that Standard Chartered Bank are taking them over have resulted in it upper capping for some days now.
The market broke through 12000 points making a high of 12,077.61. POL made an intra-day high of 667.9 and GASF closed at 10.4 , up 25% since April 5th. The market maintained a level of 120+ for some time , finally coming off at the end , closing at 11,992.23, up 55.64 points . It’s possible it might correct a bit further when it opens on the 12th (11th is a holiday ) and then resume its upward movement towards 12,700.
The market continued its strength from yesterday opening 50 plus , remaining stable and slowly rising to eventually break 11,700 making an intra-day all time high of 11,709.84. It closed 91 points plus at 11,668.97 . With ORGYDC going Spot , it was up to all the other stocks to perform . 
The market showed strength across the board today with several stocks in different sectors performing. While still struggling to reach its previous high , it did not rely on ORGYDC to perform to close 88 points plus at 11,573.94 . NBP and PPL are still underperforming , unable to breakout, POL closed up Rs.17.5 at 642. As mentioned in a previous post , the six 
