10,942
October 9, 2006
The Karachi Stock market made a high of 11,015 and closed at 10,942. While corrections are expected as the market’s indicators are showing that its overbought, the next level up is a close above 11k with resitance at 11,100. OGDC has closed up at 137.20, nearly above its 200 DMA and could well give the added index boost the market needs to cross and close above 11k. Banks are undergoing a correction of their rapid highs.
News : The Board of Directors of Karachi Stock Exchange (KSE) has formally approved all changes agreed at the meeting between Securities and Exchange Commission of Pakistan (SECP)…. Business Recorder
Market participants are expecting that the much awaited cash settled single stock future contracts…. Dawn
LOWER CAPS : BAFL / Faysal Bank
UPPER CAPS : CTTL / HUBCO / SNGP
Market Low : 10,888.32 High : 11,015.74
Market Close : 10,942.92
