10,743
November 13, 2006
The index made a high of 10,861, a low of 10,683 and closed at 10,743, below its 30 DMA. The current news on OGDC’s GDR is that marketing will begin on Nov.15th for 645.13 million shares, book-building to complete by the 30th and it will be listed in London on Dec.6th. OGDC closed below its 30 DMA today, and cements are getting more reamed day by day, keep the Vaseline jar at close reach.
The next downside support is 10,500 and the mkt. has to close above 10,900 for further upside. The $1 million report on the March 2005 bullshit has been postponed till further notice, perhaps realizing that it could bugger the market further down from here, or maybe some big political dick has been implicated.
News : The government has indemnified the global depository receipts (GDRs) issue for Oil and Gas Development Company (OGDC)… Business Recorder
The finance ministry has informed the Securities and Exchange Commission of Pakistan (SECP) that meeting of the standing committee on finance and revenue on the stock market crash has been postponed… Business Recorder
The Securities and Exchange Commission of Pakistan (SECP) permitted Karachi Stock Exchange (KSE) non-member directors to invest in stock market on Saturday… Geo News
Lower Cap : PIOC
Market Low : 10,683.27 High :10,861.74
Market Close : 10,743.88 — 4.43 points up.
