13,996

13,996 - the biggest rise in one day !The KSE-100 index set a record today with the highest ever gain in a session, rising 643 points. While there have been falls of 500-600 points before, one has never seen a screen full of upper caps like today. Various factors like the confirmation of the new election date, the 2 parties acceptance of it, oil at $100 and the Scotland yard probe, all led to create confidence in the market. The next upward resistance is 14,100-300.

News :  One of the world’s biggest deals of 8 billion pounds has gone through between Akzo Nobel of Holland and ICI world-wide. As per the deal, the former has acquired 100 percent shares of the latter world over. Sources said ICI per share price for the deal has been evaluated at 6 pounds 80 pence…The employees of all the industrial units of ICI in Pakistan will now be on the payroll of the new group. The deal provides that the new management will be free to divest any of the ICI industrial units globally…. Aaj News

International prices of Di-ammonium Phosphate (DAP) fertiliser have surged more than double during the last year, dealers said here Wednesday. At the start of last year DAP could have been purchased for approximately $300 per ton cfr Karachi port. Today, if a fresh purchase was to be made, this price would be more than $700/ton cfr Karachi port…. Daily Times

UPPER CAPS : Practically all 1st tier stocks barring FFC, and many 2nd tier stocks.

Market Low : 13,353.38 High : 13,996.93

Market Close ; 13,996.71 – 643.33 points up !!! 

source: karachistockmarket.blogsome.com

Filed under Daily Market News, Fertilizer



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