14,591 - KSE-100 index hits new highs
October 17, 2007
The KSE-100 index corrected down to 14,253 and then recovered to close at a new all time high of 14,591 (intra-day high of 14,616). Due to the high price of oil at $88 , OGDC was the flavour of the day with 66.4 million shares traded from a total volume of 325.9 million. PSO also moved up by Rs.10.45 , POL by Rs.10.20 and PPL hit the 300 mark, up by Rs.12.55. The market looks like its headed towards 14,700 with 14,360 as the downside support.
Board Meetings : Fauji Fertilizer Bin Qasim + Shell Pakistan will announce their results 2moro.
News : Oil thundered more than $2 to a new peak above $88 a barrel on Tuesday, extending a nine-dollar rally since last week on tight supplies, strong demand and growing tensions in northern Iraq.The record surge raised alarm bells for producer group OPEC, which voiced concern over the high price and blamed rampant speculation by big money investors rather than any shortage of supply… The News
Upper Caps : Packages + Maple Leaf Cement
Market Low : 14,253.29 High : 14,616.42
Market Close : 14,591.95 – 128.17 points up
