11,301 - Oil hits 2007 high
March 26, 2007
The KSE-100 index made a high of 11,350 and a low of 11,256, closing up at 11,301. Banks took a bashing today with BOP being the highest volume leader with 19.9 million shares traded. Overall the volumes were low with 97.4 million shares traded. Even oil hitting its high for 2007 didn’t really see much upside for oil stocks.Upside resistance is 11,450.
News : World oil prices on Monday hit new highs for 2007 as the market fretted over rising tensions between the West and major crude producer Iran. New York’s main oil futures contract, light sweet crude for delivery in May, gained 63 cents to close at 62.91 dollars. Earlier on Monday it reached 63.30 dollars — last seen on December 21. In London, the price of Brent North Sea crude for May delivery rallied 1.20 dollars to settle at 64.41 dollars a barrel in electronic deals. It had earlier struck 64.50 dollars — the highest point since December 4. … Aaj News
Citibank has put off its decision to buy a Pakistani bank..the talks, which were started for the purchase of a small bank in Pakistan, have for the time being put on hold…The stock market was buzzing with the news of Citibank Group buying Soneri Bank… Geo News
Market Low : 11,256.22 High: 11,350.21
Market Close : 11,301.62 — 6.64 points up
