12,340
May 18, 2007
After a couple of days of the KSE-100 index dragging its heels, the Karachi stock market saw some renewed buying interest today. While volumes were lower than usual at 140.9 million shares traded, there was buying in specific stocks like Soneri Bank on continued rumours of being taken over by a foreign bank. The E&P sector continues to lag behind all other sectors, despite high oil prices. Once all the judicial issue crap dies down and with talk of CFS-II around the corner, the market should resume a healthier state.News
News :Hub Power Co. Ltd. (Hubco) plans to build a 225-megawatt power plant at a cost of up to $225 million, which is due for completion in just over two years, senior company officials said on Friday.Britain’s International Power Plc owns 16.6 percent of Hubco, Pakistan’s leading private sector power producers, and now operates a 1,292 MW power plant near Karachi… Aaj News
The price of Brent crude hit the highest level for more than eight months on Friday, rising above $70 a barrel on concerns over tight supplies before recoiling on profit-taking, traders said.Brent North Sea crude for July delivery shot up to $70.35, a price last seen on September 1, 2006… Daily Times
Market Low : 12,250.75 High : 12,350.23
Market Close : 12,340.42 — 89.67 points up
