15,125
March 31, 2008
The Karachi Stock market corrected down to 14,971 today and recovered to close at 15,125. Rumours of the ‘’March 2005 crisis" being reinvestigated dampened the market sentiment. It seems once again that we are looking backwards instead of going forwards, crying over split milk for an issue 3 years old ! Perhaps some of the new politicians got fucked in the "crisis" and therefore want the issue reopened. Volumes were on the low side with 128.4 million shares traded.
Market Low : 14,971.08 High : 15,293.08
Market Close : 15,125.89 – 142.33 points down
On Friday the KSE-100 index showed some resilience as it closed down by only 6 points. There seemed to be no weekend selling as such and the market stayed in a tight range of 15,221 - 15,311. Upward resistance is from 15,333-400 and downside support is at 15,100
Slowly but surely the Karachi Stock market is setting new highs.Today’s close at 15,275 and intra-day high of 15,333 have broken all records (so far ). The market is nearly 4000 points up from 27/3/2007. Arif Habib Securities was the top scorer in terms of volume with 22.6 million shares traded. 2moro’s "Friday show" could well see some selling / correction. Upward resistance is at 15,333 and downside support is at 15,120-050. 
The KSE-100 index is scaling new peaks, though not very convincingly, by only a few points at a time. Today’s close at 15,199 is the highest so far, with no doubt there will be more to come. Oil has risen by $5 dollars today on the news of a US shortfall in supplies. JS Bank Ltd was the flavour of the day with 17.6 million shares traded. Upward resistance is at 15,297, the previous intra-day high.
The KSE-100 index made a new intra-day high of 15,297, yet closed down at 15,122. As it is rollover week there could be some more selling pressure. Upward resistance is 15,230.
The KSE-100 index opened up with a huge erection of over 190 points. Making an intra-day high of 15,231, the market closed up at an all time high of 15,182, embracing the dawn of democracy, celebrating a new chapter of corruption with one of the most corrupt political parties in Pakistan’s history at the helm. Cements were the flavour of the day with Lucky Cement scoring a total volume of 30.5 million shares traded. Upward resistance is 15,231-300.
The Karachi Stock market dipped down to a low of 14,822 and then recovered to close up at 14,994. Bank Alfalah was the flavour of the day with 26.5 million shares traded. The next upward resistance is 15,050-100.
The KSE-100 index recovered from yesterday’s big slide to close up at 14,964. OGDC was the flavour of the day with 25.1 million shares traded. PSO made a record close of 539.70. Upward resistance is at 15,050.
The Karachi stock market got properly reamed today with a low of 14,506 and recovered to close down at 14,728. Most of the blue chips hit their lower limit at some point, and Lucky Cement was the top volume stock with 26.6 million shares traded. There should be some pullback 2moro with 14,900 being the upward resistance.
Another choppy day at the Karachi Stock Exchange with volumes shrinking down to 120 million shares traded. PSO closed at a new high of 538.55. Despite regional and world markets getting fucked out of shape after Bear Stearns was sold for $2 per share today, the market showed resilience and closed marginally down at 15,043. It’s possible that there will be some foreign selling this week, which could take the market below 14,900. With no good news on the near horizon, start brushing the cobwebs off the Vaseline jar !
Friday saw the KSE-100 index close up at 15,087 with an intra-day high of 15,164 and a low of 15,027. The market looks shaky and needs to close above 15,150 for more convincing upside.
The Karachi stock market opened up and made a new intra-day high of 15,231, then corrected down to 14,989 and closed down at 15,074. DGKC was the top volume stock traded today with 34.2 million shares. PSO made its highest close todate at 522.15. BOP got bashed down to lower cap by baseless rumours of it cancelling its 25% bonus share dividend. Upward resistance is at 15,120-230.
The KSE-100 index opened up and closed on a new high of 15,171, the highest close to date so far. Lucky Cement was the top volume stock traded with 33.6 million shares traded. Engro Chemical closed at its highest close of 343.90. Oil made a high over $110 today. The market is headed for 15,500 with possible corrections along the way.
A choppy ride on the KSE-100 index today with a low of 14,818, a high of 14,959 and a positive close of 14,944. Bank Alfalah was the flavour of the day with 23.5 million shares traded and closed at 64.40, its high for the year so far. The next upward resistance is 15,085.
The KSE-100 index opened up making a high of 15,155 and then got bashed down to close at 14,913. The correction could continue 2moro as well before any signs of recovery. Total traded volumes shrunk down to 135 million shares. Oil hit a new peak above $108 today. Downside sees 14,750 as support.
On Friday, the Karachi Stock market opened up making a new intra-day high of 15,192, dipped down to 15,021, and closed down at 15,085. FFBL was the flavour of the day with 42.8 million shares traded. Fauji Fertilzer closed at its upper limit, making its highest close in 2 years at 142.80. Oil is hovering above $105. The next upward resistance is 15,200.
The KSE-100 index continued its upward march making an new intra-day high of 15,179 and closing up at a record high of 15,145. OGDC was the major flavour of the day closing at its upper limit with 66.3 million shares traded. PSO and Engro Chemical closed at new record highs at 511.10 and 339.15 respectively. Oil nearly touched $106 today. The market looks like it’s heading for 15,500 with corrections along the way.
The KSE-100 index finally rebounded after 3 sessions of corrections, to close up at 14,957. OGDC was the top volume stock traded with 22.6 million shares. PSO closed short of its upper limit at 505.50, a record close. Oil has jumped upto over $104.70. The market should head upwards to test its previous high of 15,079.
The KSE-100 index opened up and made an intra-day high of 14,896. It stayed positive for most of the day, until the news of bomb blasts in Lahore bashed it down to a low of 14,641. The market recovered to close down at 14,739. The market has now corrected by 343 points since its record close at 15,079. There should be some recovery in the next day or two.
The KSE-100 index made a high of 14,970 and then undertook a much needed correction down to 14,740. It recovered to close down at 14,816. Voulmes were considerably lower at 144 million shares traded. Bank Alfalah was the top volume stock traded today. 
Friday’s close saw some correction with the Karachi Stock Market making an intra-day high of 15,146 and closing down at 14,934. Whether the correction will continue remains to be seen 2moro as quite a few stocks are still overbought. The recent 9% increase in petrol prices could well take the OMC’s up and some of the market with them. As such the bulk of the result season is over.
