15,085
March 9, 2008
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.
News : The National Clearing Company of Pakistan Limited (NCCPL) has imposed condition for the deposit of 50 percent cash margin, as per stock, to avail Continuous Funding System Mark-II (CFS Mk-II) in the eligible scrips. This was stated by officials of NCCPL in a presentation on ‘CFS Mk-II’ at Karachi Stock Exchange on Friday. They said that this 50 percent margin deposit would only be applied on the CFS mark-up rate and not on the total funded money to the finances. "CFS financiers would pool their funds for at least 90 days and if one of them withdraws it before the set timeframe then he would be charged a penalty of KIBOR rate plus four percent on the total fund which he intends to withdraw," Luqman, CEO of NCCPL said… Aaj News
Upper Cap : Fauji Fertilizer
Market Low : 15,021.46 High : 15,192.63
Market Close : 15,15,085.18 – 58.19 points down.
