High close at 10,257
July 21, 2006
The Karachi Stock Market witnessed a correction down to 10,112 in the first half and then soared upto 10,321 in the second half.It finally closed at 10,257.63 , the highest close in over 7 weeks. While OGDC is struggling to break 139 from where it will breakout to the mid 140’s , PPL closed over 239 (its breakout level) and should continue upwards. Perhaps Monday will see a close over 10,300 which will enable the market to further test 10,500.
The Govt. of Sindh has imposed a 0.1% duty of the face value of electronically transferred shares with immediate effect from today. It will make fuck all difference to the market in terms of a negative reaction.
UPPER CAP : CTTL (4th consecutive cap upwards)
Market Close : 10,257.63 — 59.31 points up.
