13,198
September 25, 2007
A fairly lacklustre day at the Karachi Stock Exchange with the KSE-100 index making a high of 13,265 and closing down at 13,198. Its possible that the market is sitting on the fence waiting for more news from the courts. Upside resistance is 13,275 -13,350 and 12,950 on the downside.
News : The Govt. awarded three petroleum exploration licences on Tuesday to a Pakistani company, Petroleum Exploration (Pvt) Limited (PEL), the Ministry of Petroleum and Natural Resources (MPNR) said.All three onshore blocks are in the southern province of Sindh…"PEL intends to make an investment of $20.71 million in these blocks to carry out geological and geophysical studies, acquisition, processing and interpretation," it said….It gave no estimate for the size of the reserves in the three blocks but said PEL would drill a total of 9 exploratory wells.Pakistan produces about 69,000 barrels of oil and nearly four billion cubic feet of gas a day and spends more than $6.5 billion annually on petroleum imports to meet growing energy demand… Aaj News
Upper Caps : AICL / Netsol Tech
Lower Cap : Habib Bank Limited (HBL)
Market Low : 13,178.21 High : 13,265.04
Market Close : 13,198.83 – 21.29 points down
