14,368 - an all time high
October 8, 2007
The KSE-100 index opened with a "morning glory " above 14,300 and stayed positive all day closing on its current all time high of 14,368. As expected the landslide victory of G.Mush took the index rocketing up, and now there is talk of 14,900 coming soon. 2moro’s index is anyone’s guess as the market is riding in uncharted territory now. Despite being highly overbought, the current euphoria could see the market above 14,500 this week. A good correction is due at anytime.
News : Agost Bernard, an associate director at Standard & Poor’s in Singapore, comments on Pakistan’s presidential election, and prospects for the economy. Bernard commented during an interview with Bloomberg today. "The election was part of the process of re-electing Pakistan’s president for a new term." It was not just symbolic but very significant and it was important for policy continuity given the track record of this administration and especially given the considerable uncertainty over the past six months or so.'’
On the prospects for Pakistan’s economy: "One of the hallmarks of this administration has been its very strong focus on the economy. "The Pakistan economy has undergone considerable transformation over the past seven or so years with structural reform including privatization, liberalization, opening up for trade.'’ Source : Bloomberg
The Ministry of Petroleum and Natural Resources has allocated gas to ‘Engro Energy Pvt Limited’ (EEPL) for a 226.5 MW power generation plant to be located at Qadirpur (Sindh)… Aaj News
UPPER CAPS : Arif Habib Sec / Arif Habib Ltd. / Bank Alfalah / MCB / Askari Bank / JOVC / Nishat Mills / Pakistan Refinery
Market Low : 14,099.30 High : 14,368
Market Close : 14,368 – 268.70 points up
