15,074
March 13, 2008
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.
News : Oil prices soared to an all-time high of 111 dollars on Thursday, driven by investment demand to hedge against the tumbling dollar and rising inflation, traders said. New York’s main oil contract, light sweet crude for delivery in April, had earlier on Thursday hit a record 110.98 dollars per barrel… Source : The News
Pakistani cement exports will be key beneficiaries as the demand for Pakistani cement in Gulf countries will now further rise subsequently after United Arab Emirates (UAE) government has removed 5 percent custom duty on cement to help the fast moving construction sector in Dubai. This removal of import duty will decrease the cost of importing cement into UAE, in turn increasing the demand for imported cement… Daily Times
Upper Cap : Maple Leaf Cement
Lower Cap : Bank of Punjab
Market Low : 14,989.20 High : 15,231.26
Market Close :15,074.74 – 96.68 points down
