12,370- more improvement
August 30, 2007
The upside continued with the KSE-100 index making a high of 12,387 and clsoing up at 12,370. NBP was the volume leader of the day with 16.4 million shares traded and MCB is up by Rs.37 for the week. The close above 12,300 should lead to a test of 12,500 , unless the market starts wetting itself again on the current political news.
News : Pakistan Petroleum Dealers Association (PPDA) had announced that it will disconnect gasoline sales from Friday for an indefinite period in protest against the reduction in profit margin of 39 paisa on petroleum products by government… Aaj News
The Privatisation Commission (PC) may be dragged into arbitration in London in case of refusal to International Power (IP) for dematerialization of its shares in Kot Addu Power Company (Kapco)…Aaj News
Pakistan Petroleum Limited (PPL) is examining to invest in oil and gas exploration business outside Pakistan…in this regard, the PPL has identified 10 perspective countries where the investment opportunities are suitable for the company. According to the company, Yemen, Morocco, Tunisia, Mauritania, Libya, Uzbekistan, Turkmenistan, Kenya, Tanzania and Mozambique have been identified as countries suitable for investment…The company is the largest producer of natural gas with a share of 26 percent in oil and gas industry of the country…Daily Times
Upper Caps : MCB / JOVC / Soneri Bank / Arif Habib Ltd
Market Low : 12,228.06 High : 12,387.33
Market Close : 12,370.43 — 142.37 points up
