9,965
September 8, 2006
The market looks weak as it is well below its 30,50 and 200 DMA’s . It dipped down to 9,826 and found some support there, eventually pulling back to close just above its support level of 9,950. It seems that the interest is just not there as volumes are shrinking, which might change next week with certain stocks depending on their announcements. The last time it closed around here on August 24th 2006, there was a sharp downside to 9,584. There are currently mixed views on the market’s direction. Time to take a break !!
Lucky Cement will anounce its results on Monday morning.
MCB Bank Ltd, Pakistan’s second-largest listed bank, is preparing a global depository receipt (GDR) sale in London worth up to $150 million…. Dawn
SPOT : Engro / FFBL / PSO / PRL
Market Low : 9,826.47 High : 9,983.
Market Close : 9,965.21 — 38.11 points up.
