10,040 - 10k holds as trading for 2006 ends
December 29, 2006
The last trading session at the Karachi Stock Exchange for 2006 was another uneventful low volume day, with 71.6 million shares traded. The market made a high of 10,105 and then closed down at 10,040. Downside faces a test of 9,935 followed by 9,800 and a close above 10,155 will head for 10,300-500. Its only a matter of time before interest will pick up and the market starts to go up again, probably after the middle of January 2007.
News :TeleCard, a local telecom company, is in final talks to sell more than 15 per cent shares to another subsidiary of its parent company, Total Telecom, which plans to launch $300 million CDMA (code division multiple access) technology-based operations in 2007… The News
JCR-VIS Credit Rating Company Ltd (JCR-VJS) has assessed the fund performance ranking of Golden Arrow Selected Stocks Fund Limited (GASFL) for the period ended June 30, 2006 at ‘MFR 5-Star.’… Business Recorder
Upper Cap : Pioneer Cement
Market Low : 10,028.62 High :10,105.99
Market Close : 10,040.
