12,331 - a good recovery
May 8, 2007
After yesterday’s enormous plunge, the KSE-100 index staged a healthy recovery to close up at 12,331. Bank Alfalah was the flavour of the day with 26.4 million shares traded. Relative to the performance of other sectors today, the E&P sector is lagging again. Its possible the market will remain volatile this week until the CFS limit increase is finalized. The market held its support of 12,050 today. The next upward resistance is 12,370 followed by 12,500.
News : Karachi Stock Exchange (KSE) today will send the appraisal report on the need of revising the Cap on CFS (Continuous Financing System) to the Securities and Exchange Commission of Pakistan (SECP)… Geo News
The broker directors of Karachi Stock Exchange (KSE) have disagreed with the SECP’s proposal to restrict clients to just one percent of the free float of particular scrip. The KSE system can only check trading by its members and not that of their clients while accepting the imposition of 5 percent of the free float limit on a member in a particular scrip…. Business Recorder
Upper Caps: Arif Habib Securities Ltd. / PIOC / United Bank Ltd
Market Low : 12,062.64 High : 12,332.89
Market Close : 12,331.91 – 252.16 points up
