10,590
January 16, 2007
More upward movement at the Karachi Stock Exchange today, with the market closing on its high of 10,590. The market has closed above its 50 DMA ,just short of its 200 DMA at 10,600. 10,700 is the next resistance level upwards and downside support is at 10,450.
PTCL was the volume leader of the day, trading 36.24 million shares due to some foreign buying. After many moons PTC has broken and held above Rs.50. MCB and PSO also went up by Rs.6.6 and 6.95 respectively.
The meeting re: reducing CVT is 2moro.
Bosicor’s board meeting is 2moro.
News : Pakistan’s central bank will unveil its monetary policy for the second half of the fiscal year on January 18th…
Business Recorder
The downward revision in the prices of two major oil products by 2-7 percent is unlikely to have major negative effect on the bottom line of major oil marketing companies (OMCs) in Pakistan.Analysts see half-year earnings per share of Pakistan State Oil (PSO), the largest company of the sector, to remain almost unharmed, with 60 paisas per share decline…Daily Times
The Bank of Punjab (BOP) has secured its loan, which was given to Crescent Standard Investment Bank (CSI)… Geo News
Lower Cap : Callmate Telips
Market Low : 10,496.19 High : 10,590.93
Market Close : 10,590.93 – 83.41 points up
