More downside to 9,584
August 25, 2006
The market continued its downward slide and finally closed at 9,584, 3.72 % down. Thats 658 points down in 2 days. The Vaseline jars are being dipped into and 9400 is the next level. OGDC was trashed down to 120 and POL hit its 2nd lower cap in 2 days. So if short -selling had been allowed on Monday , where would the index have gone? below 9k ?? Get out on the bounce if there is any !!
BOP’s announcement was a major fuckup being announced in Lahore first and then in Karachi. Also it said 125% rights to start with , then 12.5% rights and finally a pathetic 1.25 % rights. Read more at the Business Recorder.
LOWER CAPS : POL / PSO / PPL / MCB / BOSI / PTC / CTTL / DGKC / NML / MCLF / PIOC / SNGP
Market Low : 9,553.37 High : 9,971
Market Close : 9,584.79 — 370.44
