15,079 - another record close

Once again the KSE-100 index has closed at a new record high at 15,079. FFBL was the flavour of the day with 32.7 million shares traded. PSO closed at its peak of 499.80 along with Engro Chemical which also closed at its peak at 323. Upward resistance is 15,155.

News : Oil prices skyrocketed on Thursday to record peaks as speculators piled into the market on the back of a sharp decline in the dollar after a disappointing weak report on US economic growth…The benchmark New York contract earlier Thursday had hit an all-time intraday peak at 102.74 dollars, and after the market close reached 102.97 dollars in electronic trade… Aaj News

Templeton Asset Management favours Asian energy stocks and has placed a big bet on fast growing but politically volatile Pakistan, the firm’s top emerging markets fund manager, Mark Mobius, said on Thursday…In Pakistan, a market shunned by most institutional investors but which accounted for 5.3 percent of Templeton’s Asian Growth Fund’s portfolio, Mobius said the country’s stocks were attractively priced at forward price-earnings ratios of less than 10…Aaj News

Upper Caps : UBL / Azgard Nine

Market Low : 15,004.39 High : 15,113.76

Market Close : 15,079.71 – 60.02 points up