13,624 - Downward spiral
January 17, 2008
The KSE-100 continued its downward spiral as world markets and the oil price tumbled further today on US recession fears. The market has dropped by 425 since monday and 2moro’s Friday show could bugger it further downwards. Total volume was lower today with 113 million shares traded.The next downside support is 13,600, followed by 13,300. Keep lots of Vaseline at close reach !
News : The Siemens Pakistan Engineering Company Limited has teamed up with the Flying Cement Company Limited to manufacture a state-of-art 132 KVA grid station to power its cement plant in Khushab. The contract, a 26-MVA grid station with service and maintenance provided by the Siemens Engineering Company Limited, is the first part of a three-point strategy by the Flying Cement Company Limited to tackle high-energy costs. This station will cut the cost by more than 50 percent, enabling larger profits for its shareholders… Aaj News
Upper Cap ; JS Value Fund
Lower Caps : JSBL /JSCL / Azgard Nine / Pace Pakistan
Market Low : 13,624.26 High : 13,86.67
Market Close : 13,674.91 — 171.76 points down
