14,099
October 4, 2007
The KSE-100 index made a high of 14,138, dipped down to 13,992 and closed up at 14,099, one of only six closes above 14k so far. National Bank was the flavour of the day with 30.6 million shares traded out of a total of 243.8 million. Engro made another all time high close at 296.70. Despite being highly overbought the market is holding on and closing higher daily and heading to test its previous high There could be some selling in 2moro’s Friday show. Upside resistance is 14,200-14,290 and downside support from 13,970-13,825.
News : Engro Chemical Pakistan Limited has signed a rupee syndicate loan of Rs 18.3 billion and an Islamic US dollar facility worth 150 million dollars marking the financial closure of its landmark financial plan to raise approximately $1.0 billion to construct a brand new world class Ammonia, Urea fertiliser complex at Daharki, District Ghotki, Sindh…The participants of the Islamic US dollar Facility are Dubai Islamic Bank, Citi Islamic Investment Bank, Standard Chartered Bank, National Bank of Pakistan, Habib Bank Limited and SAMBA Financial Group…The new Ammonia, Urea fertiliser complex will have estimated capacity of approximately 1.3 million tons of urea per annum….Engro’s market share for Urea is expected to increase from 19% today to 35% in 2011 when the new plant will be operational… Aaj News
Upper Caps : Bank of Punjab / NIB Bank
Market Low : 13,992.83 High : 14,138.84
Market Close : 14,099.94 – 53.93 points up
