10,025 - Marginal recovery with a close above 10k
December 26, 2006
The KSE -100 index made a slight recovery after its intra-day move down to 9,700 on Friday. The market made a high of 10,054 and closed up at 10,025. Finally there was a positive close in NBP and MCB closed upper cap with other banks showing positive closes. The market is still well below its 30,50 and 200 DMA’s . The next upward resistance is 10,150 to 10,300.
News : Being a holiday yesterday there is no real news as such as the papers have the day off. There is an amusing piece of reportage from Geo News … "Karachi Stock Exchange (KSE), while shedding last week’s uncertain outlook though wavered and vacillated initially, but then flashed back to a welcome optimism, putting in motion a lively kicking business that enabled the KSE-100 index to breach the 10,000 points psychological barriers today."
Upper Cap : MCB + Soneri Bank
Market Low : 9,844.35 High : 10,054
Market Close : 10,025.34 — 131.35 points up
This is the 200th post on this blog.
