11,328
March 27, 2007
The Karachi Stock market made a high of 11,383, but was unable to sustain the gain and closed up at 11,328. Volumes were slightly higher than yesterday with 1118.2 million shares traded. Banks continued to get bashed and oil stocks rose. The market has been extremely range bound in the last few days as investors have been sitting on the fence, and it needs to break out either way. Upside continues with a close above 11,450 and 11,150 is the area to hold on the downside.
SCRA inflows for March equal $93.6 million taking the current fiscal year total to $650.8 million
News : Pakistan’s economy is projected to post a growth rate of about 6.5 percent to 7.0 percent in 2007 and 2008, reflecting some strengthening in agriculture and manufacturing sectors, the Asian Development Bank (ADB) said on Tuesday…Aaj News
Market movers have further raised the price of Dia Ammonium Phosphate (DAP) by Rs 60 to Rs 1,450 per 50-kg bag in the wake of rising demand and short supply in the country, traders said on Monday. "DAP is currently in short supply, as importers are avoiding to import it due to rising prices in the international market, and government has not given subsidy on its import after December 2006," they said. With the current upsurge of Rs 60, the DAP price has gone up to Rs 1,450 per bag in a week…. Business Recorder
Lower Cap : Soneri Bank
Market Low : 11,262.54 Market High :11,383.12
Market Close : 11,328.45 – 26.83 points up
