13,082

13,082Friday saw the KSE-100 index spike up to make a high of 13,200, followed by a dive into the red down to 13,048 and closing down at 13,082. One of the lowest volumes of the year with only 65 million shares traded in total. With no further news on the political fron the market is likely to be rangebound with 13,300 as its upward resistance and 12,700 on the downside.

News : Oil and Gas Development Company Limited (OGDCL) has discovered 10.46 million cubic feet per day of gas and condensate in its Moolan Exploratory Well located in Hyderabad district of Sindh province…The company holds the largest share of oil 31 percent and gas 31 percent of the total reserves in the country. In addition, OGDCL is an operator in 15 exploration licenses and partner in 6 exploration licenses. The company has 40 mining and development and production leases which are operated by it and partner in 32 non-operated mining and development and production leases… Aaj News

A court has ordered the issuance of bailable warrants against the directors of Callmate Telips Telecom Limited (CTTL) for indulging in wash trades/circular trade and insider trading and other manipulative practices in CTTL shares…the accused persons created false and misleading appearance of active trading in CTTL shares with a view to raising the price of CTTL shares for inducing purchase by public at large and also sold CTTL shares to make unlawful gains.In addition, the order said, the accused persons used price sensitive insider information to indulge in trading in CTTL shares… Aaj News

Upper Caps : Saudi Pak Bank 

Lower Caps : Adamjee Insurance / Netsol Tech / Callmate Telips / Attock Refinery

Market Low : 13,048.97 High: 13,200.77

Market Close : 13,082.01 — 28.80 points down  

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Oil & Gas Exploration, Telecommunication



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