15,317 - short lived gains
April 29, 2008
The KSE-100 index ended the result season with a bang today, closing down at 15,317, based on the failure to resolve the judicial issue. The stupidest politician in the history of Pakistan has rushed to Dubai to continue with talks to try and resolve the issue before the "deadline " 2moro. While his party threatens that they could resign from the cabinet, it seems unlikely that will happen, though its possible that the scum of the legal profession (lawyers) could hit the streets again.
The last 2 days of upside for the index have been wiped out. There don’t seem to be many triggers left for this market and oil going down to $115 won’t help. Closing below 15,300 will lead to 15,100 and then 14,900. Breaking 15,700 seems unlikely at the moment. Keep the Vaseline at close reach !
Dividends : PTC: EPS : -1.29 / NBP : EPS : 5.08 / ICI : 3 / SNGP : 3.21 / Azgard Nine : 2.32
Upper Cap : PAKRI
Lower Cap : JOVC
Market Low : 15,280.91 High : 15,548.95
Market Close : 15,317.30 – 161.92 points down.
