11,399 - more upward movement
October 18, 2006
The KSE-100 index surged further upwards to make a high of 11,438 and closed at 11,399. PPL’s upper cap , OGDC’s near upper cap and POL up Rs.15 lead the way to another 232 points up. RSI levels are the highest since May and some correction is expected 2moro as there has been considerable upside recently.Also with the long Eid holidays, people might well shed their positions 2moro till next Thursday. Though as we all know this is a crazy fucking market and it could well test and break 11,500 2moro.
News : The Securities and Exchange Commission of Pakistan (SECP) registered 920 companies in the first quarter (July-September) of the current financial year 2006-07…. Business Recorder.
Four parties including Engro, Fauji Fertilizer Company (FFC), International Petroleum Investment Co (IPIC) and Orascom are interested in installing a new urea plant in view of growing demand of fertilizers in local market…. The News
Upper Cap : PPL
Market Low : 11,167.04 High : 11,438.15
Market Close : 11,399.69 — 232.65 points up.
