12,952 - Oil hits $81 plus
September 18, 2007
The Karachi Stock market opened up and stayed in the green all day. Boosted by the high price of oil the index made a high of 12,989 and close up at 12,952. OGDC made a high of Rs. 116.40 and PSO, SHELL and APL closed at their upper limits. August 13th was the last time the index saw these levels as 13k broke downwards. The KSE-100 index is headed to test 13k on its way to its 50- DMA at 13,070, with probable corrections on the way. A close above that will see more upside.
News : Oil struck an all-time high above $81 a barrel on Tuesday, fuelled by concerns of a winter supply squeeze in top consumer the United States, where an anticipated interest rate cut was calming recession fears.. Daily Times
Upper Caps : PSO / Shell / APL/ JOVC / Attock Refinery
Market Low : 12,791.85 High : 12,989.41
Market Close : 12,952.75 — 160.90 points up
