13,567 - a record close, yet again !
June 18, 2007
After Friday’s minor correction , the KSE-100 index opened up with a gap today and stayed positive all day long. The Karachi Stock market remained stable with a high of 13,580 and closed up at 13,567, another record close. PSO closed up at Rs.14 at 419 and Packages hit its upper cap for the 3rd consecutive session. While in RSI terms the market is still high and overbought , it looks like 13,613 will break intra-day and a new high will be set this week. Upward resistance is 13,613 followed by 13,700.
News : The Privatisation Commission (PC) and International Power, of UK, are at loggerheads over the de-materialisation and transfer of shares in Kot Addu Power Company (Kapco) without any restriction…Aaj News
The mutual funds managers of the country have strongly opposed the imposition of 35 percent tax on their earnings in CFS funding, saying that this would adversely affect the fast growing mutual funds industry… Aaj News
SPOT: FFC
Upper Caps : Arif Habib Securities Ltd / Packages Ltd. / JOVC / Callmate Telips
Market Low : 13,438.47 High : 13,580.52
Market Close : 13,567.40 –128.93 points up
