15,182 - another new high
March 24, 2008
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.
News : Rumours about a delay in the implementation of Continuous Financing System Mark II (CFS MK-II) at the Karachi stock market were circulating on Monday. This product would provide unlimited lending to equity investors in eligible scrips and is scheduled to launch on April 7th. “Yes, there is a meeting between the SECP and KSE officials on Tuesday (today) to finalise the regulations for CFS MK-II product …The main agenda of this meeting is to resolve the issue of submitting 50 per cent cash margins while availing CFS financing on eligible scrips. This percentage of margins is only to be applied on rate of mark-up and not on total funded money…The News
Upcountry cement prices rose by Rs10 to Rs15 per 50kg bag to Rs240 to Rs245. Cement companies attributed the recent price hike to rising cost of production due to high cost of raw material especially coal that has surged to around $140 per tonne from $90 per tonne in the last six months.After an Rs20-25 per bag increase on March 6 the cement companies have again increased ex-factory cement prices by Rs10-15 per bag now stands at Rs240-245 per bag… The News
Upper Cap: Arif Habib Bank / NML / JSCL / Sitara Peroxide
Market Low : 14,993.87 High : 15,231.34
Market Close : 15,182.21 — 188.34 points up
