14,396
October 29, 2007
The KSE-100 index made a high of 14,532 and closed down at 14,396. OGDC was the flavour of the day with 17.6 million shares traded out of a relatively low volume of 175.3 million shares traded today. The market closed just below its support level of 14,400 and downside could see 14,200. Upward resistance is 14,500 and a close above 14,600 would augur well.
Dividends : Due to the volume of results announced today, a separate post has been created for them.
News : Oil spiked past 93 US dollars in Asian trade on Monday for the first time to set a new intra-day high as tensions in the Middle East continued to spook investors Prices were also partly driven up by a new tropical storm, dubbed Noel, in the Caribbean which investors fear may make its way to the US gulf coast where many of the country’s energy facilities are located… Aaj News
After acquiring provisional certification from the Bureau of Indian Standards to sell their product in cement-hungry India by seven Pakistani companies, Pakistani traders are eying export of six million tones of cement per annum…Cheaper than Indian cement, Pakistani cement which sells in India in the price band of Rs 235-250 per bag, will make it much more attractive with the Indian construction and real estate boom… Aaj News
Upper Caps : Attock Refinery + Netsol Tech
Lower Caps : Bank Alfalah + JOVC
Market Low : 14,379.24 High : 14,532.18
Market Close : 14,396.98 – 53 points down
