9,909
August 10, 2008
Friday saw the KSE-100 index dip down to 9,583 and then recover to close up at 9,909. Heavy support and buying from the EMOF took the market up along with the news that some of the bigger companies have expressed an interest in buying back their shares given the current incredibly low & attractive prices. Next week throws us into the impeachment saga which could see turbulence for the market especially if it turns out to be long and protracted.
News : Austrian oil and gas group OMV said on Friday it had acquired two exploration licences in southwest Pakistan. OMV will be part of a joint venture with state-run Pakistan Petroleum Ltd (PPL), which will operate the two blocks… Aaj News
Malaysia’s Maybank has bought another 5 percent of MCB Bank for about 703 million ringgit ($213 million), raising its stake in the South Asian nation’s biggest lender to 20 percent, it said on Friday… Aaj News
Upper Caps : BAFL / AICL / NBP / AHBL / UBL / DGKC / MCB / NML
Lower Cap : AHL
Market Low : 9,583.79 High : 9,936.94
Market Close : 9,909.45 – 202.16 points up
