9,707
August 7, 2008
The Karachi Stock market opened and dipped down to 9,469, a new intra-day low for 2008. It then recovered making a high of 9,816 and closed marginally up at 9,707, just above its support level. At the moment, there is no point in further bellyaching about what the current hopeless govt.’s latest desperate move of trying to impeach P.Mush will do to the country/economy/dwindling foreign exchange reserves etc etc. The next few days will unravel the bumpy road ahead for the market. Given the fact that this (attempted impeachment) will not be a quick procedure, it will only lead to more uncertainty in this crapshoot of a market that the KSE-100 index has become. 8,700 or lower is a reality one could be facing soon.
Dividend : Nestle Pakistan : 75% Cash EPS : 18.08
Lower Caps : AHL / NML / AICL / ATRL
Market Low : 9,469.98 High : 9,816.98
Market Close : 9707.29 – 28.47 points up.
