10,619
November 30, 2006
A rollercoaster of a ride on the Karachi Stock Market today.The market made at high of 10,703 and then got reamed down to 10,512 and close at 10,619. The market has closed below its 30,50 and 200 DMA’s . OGDC is still weak and a lot depends on its GDR price, due to be announced tonight. A close below 10,400 would lead to 10,100 and on the upside 10,900 is a big resistance level for the KSE-100 index to cross.
News : The Cabinet Committee on Privatisation (CCoP) is scheduled to meet on Thursday night to fix the OGDC GDR share price, official sources told…. Business Recorder
The schedule of new ‘risk management system’ (RMS) - excluding client level netting - will be implemented in phases, whereby 50 percent of the applicable margins under the new regime will be applicable from December 4, 2006. This applies to the ‘Ready’ and CFS market only…. Business Recorder
Upper Cap : Callmate Telips ( 10th consecutive day ) + HUBCO + Soneri Bank
Market Low : 10,512.81 High : 10,703.84
Market Close : 10,619.47 — 24.89 points up
