15,622 - another new high
April 17, 2008
After its flat close yesterday, the Karachi Stock market shot up to make an new intra-day high of 15,664 and ended up on its 3rd consecutive record close at 15,622. Nishat Mills was the top scorer of the day with 23 million shares traded. Engro Chemical has closed on another record high at 373.75 and is quite overbought now . Oil made a new high of $115.54 today. The next upward resistance is 15,700-750 and downside support is at 15,450-300 . The market looks like it could well correct in the next day or two.
Dividends : National Refinery : Eps : 41.29
News : The Oil and Gas Regulatory Authority (OGRA) Thursday increased the petrol and diesel prices further by Rs3 per litre. The new petroleum products’ prices will take effect after 12 midnight…The price of petrol and diesel were proposed to be increased by Rs3.50 per litre. However, finally the prices were raised by Rs3 per litre after consultation with the Federal Minister, Ishaq Dar… Source : The News
Upper Caps : PAKRI / Nishat Mills / Maple Leaf Cement / Azgard Nine / Sitara Peroxide / Arif Habib Bank /
Market Low : 15,540.35 High : 15,664.91
Market Close : 15,622.30 – 81.95 points up
