14,829 - The highest close (so far)
February 20, 2008
The Karachi Stock market opened up and made its all time intra-day high at 14,957 and also closed at its highest level of 14,829. MCB closed at 445 at its second upper limit in 2 days and at its all time high. Arif habib securities was the top scorer of the day with 39 million shares traded. The market is beginning to look overbought with quite a few stocks closing above their 70 RSI-14 figure. A correction is due as the market is up by some 950 points in the last 6 sessions,and it could well come this week.
While the market sentiment is positive at the moment there could be instabilty in the coming weeks with the political situation. The thieves are banding together for the next government and the biggest moron in our political history, Nawaz Sharif, has been prattling on about getting rid of Mr.Mush at all costs. Are we really any better off than we were ?
News : New York oil prices struck a record 101.27 dollars a barrel Wednesday amid renewed global supply jitters… Aaj News
Importers of Di-Ammonium Phosphate (DAP), an essential crops nutrient, have raised the price by Rs 500 per 50 kg bag across the country on the back of soaring international prices…DAP prices has gone up by 36 percent in the world market during the last five weeks… Aaj News
Upper Cap : MCB Bank
Market Low : 14,796.30 High : 14,957.75
Market Close : 14,829.70 — 32.52 points up
