10,959 — An overbought market ?
October 10, 2006
The market is still holding on to its current range of 10,888 - 11,015 . A lot depends of OGDC to take it up and above 11k and a correction should come in soon if the 11k index is not broken this week. OGDC’s close below its 200 DMA won’t help either. As the market gets more overbought with its RSI rising higher, there will be sharp volatility upwards or more likely downwards.
News : …. Pakistan, as compared to other emerging and non-emerging economies, ranks among the lowest with regard to investment in mutual funds instead of much potential and high return rates….. Business Recorder
MCB’s GDR receives an enormous resposnse…. Dawn
Dividends : Worldcall Telecom : 15% Bonus EPS : Nil
Faysal Bank : FINANCIAL RESULT FOR THE THIRD QUARTER ENDED 3O/O9/2OO6 EPS : Rs. 5.37
PROFIT/LOSS BEFORE TAXATION RS. IN MILLION 3,085.148
PROFIT/LOSS AFTER TAXATION RS. IN MILLION 2,275.304
UPPER CAP : CTTL
Market Low : 10,888.71 High : 11,017.28
Market Close : 10,959.35 — 16.6 points up
