15,122 - a good bashing
May 1, 2008
Wednesday saw the KSE-100 index fall further down to a low of 15,078 and closed down at 15,122 based on uncertainty on the judges issue. Petrol prices have been increased by Rs.3 for the next 15 days effective as of today. Oil has fallen down to $112. The market has closed lower than its 30 & 50 DMA and seems a bit oversold. There could well be a pullback 2moro . Upward resistance is now at 15,300 and downside support at 14,900.
Dividends : BOP : EPS : -5.85 / PAKRI : 3.08
News : The government on Wednesday gave the green signal to appoint the financial adviser for divestment of Kot Addu Power Company’s (KAPCO) shares through an offering of Global Depository Receipts in the international market…The board also decided to initiate the process for the appointment of financial adviser for the block sale of Habib Bank Limited (HBL) shares and approved the recommendations of the pre-qualification committee for the pre-qualification of bidders for Hazara Phosphate & Fertilisers with instructions to ensure maximum participation of potential bidders… The News
Upper Cap : PAKRI
Lower Cap : Sitara Peroxide
Market Low : 15,078.76 High : 15,317.30
Market Close : 15,122.47 — 194.83 points down
