9,893 - KSE-100 index down 658 points this week
December 22, 2006
Another day of carnage at the Karachi Stock Exchange . Continued foreign selling lead to a rectum ripping low of 9,696 in the first half , followed by some recovery in the 2nd half.The market held its support of 9,800, closing at 9,893. The market has lost 658 points (6.2%) this week. According to Dr. Salman Shah,"the current declining trend in the stock market was a temporary phase, and expressed hope that things will improve with the start of new year." ‘’Hope'’ will not feed those who got royally fucked in the market this week !! Whether the worst is over remains to be seen next week. The next support level below 9,800 is 9,630. Vaseline would be a good stocking filler this X’mas !!
News :The Advisor to the Prime Minister on Finance and Revenue, Dr Salman Shah has said that there will be no victimisation for the stock market crash but action would be taken under the rules and regulations against those involved in the stock market scam… Business Recorder
The Ministry of Industries, Production and Special Initiatives has withdrawn the freight subsidy of Rs 60 per 50kg bag on imported cement from all countries with immediate effect, a SBP circular said on Friday…. Business Recorder
Upper Caps : wishful thinking
Lower Cap : Lucky Cement
Market Low : 9,696.67 High : 9,940.91
Market Close : 9,893.99 — 29.12 points down
