7,340 - a correction
April 8, 2009
The KSE-100 index finally underwent a good correction after many days of upward movement. Having made a high of 7,674 ,the market closed down at 7,340, losing 295 points (3.8%). Volumes were still on the high side with 297.1 million shares traded. The correction could well continue by another 250 odd points.
News : Pakistan’s Attock Refinery Ltd (ARL) will start erecting a new 12,400 barrels per day (bpd) diesel hydrotreater and an isomerization unit at its refinery before end-June to produce cleaner autofuels…The hydrotreater is used for removing sulphur from diesel produced at the 40,000-bpd refinery in Rawalpindi, while the isomerization unit helps boost the octane level and reduces benzene and olefins in gasoline. This move enable ARL to move to Euro II emission standards, which limit diesel sulphur content to 0.05 percent...Aaj News
Market Low : 7,316.01 High : 7,674.32
Market Close : 7,340.30 – 295.58 points down
