14,633
December 11, 2007
The KSE-100 index dipped down to a low of 14,435 and then recovered to close up at 14,633. Pakistan Cement was the flavour of the day with 19.5 million shares traded due to Lafarge S.A.’s acquistion of Orascom Construction Industries which has a 69% stake in PCCL. MCB made another new all time high and closed at its upper limit at 433. The pressure is building up as the market is headed to test its previous high of 14,787. The RSI-14 is over 70 now and there could be another correction before testing the peak or closing above it.
News : Pakistan Telecommunication Company Limited(PTCL) has announced its new rates for International Direct Dialing that enables the landline, PTCL calling cards and V Customers to call a number of destinations worldwide just for Rs1 per 30 seconds… Aaj News
The caretaker Cabinet is likely to approve the much-awaited ‘Stock Exchanges Corporatisation, Demutualisation and Integration Ordinance 2007′ on Wednesday for promulgating it in the shape of an Ordinance before December 31, 2007, fearing that any further delay would deprive the country of huge investment… Business Recorder
Upper Caps : Pakistan Cement / MCB
Market Low : 14,435.38 High : 14,634.20
Market Close : 14,633 – 61.36 points up
