7,430
April 28, 2009The Karachi Stock market dipped down to a low of 7,187 ( its lowest point since April 9th ) and then recovered to close up at 7,430. Hopefully the market will stabilize and close above 7,500 , heading upwards again.
News : The board of directors of Engro Chemical Pakistan Limited, in its meeting held on Tuesday, agreed in principle to carry out a demerger of Engro, in terms of which its fertiliser business is proposed to be bifurcated from Engro and transferred/merged into a wholly owned subsidiary (to be incorporated)….Essentially, the fertiliser assets of Engro will be substituted by shares of its new wholly owned subsidiary. Engro will then function as a pure holding company and oversee the business of its new fertiliser subsidiary as well as the business of its other existing subsidiaries/affiliate…. Aaj News
Market Low : 7,187.25 High : 7,466.75
Market Close : 7,430.08 – 85.14 points up
