15,199 - another new high

The KSE-100 index is scaling new peaks, though not very convincingly, by only a few points at a time. Today’s close at 15,199 is the highest so far, with no doubt there will be more to come. Oil has risen by $5 dollars today on the news of a US shortfall in supplies. JS Bank Ltd was the flavour of the day with 17.6 million shares traded. Upward resistance is at 15,297, the previous intra-day high.

News : The Federal Board of Revenue has agreed to give income tax exemption on the expansion of power projects by the Independent Power Producers (IPPs) operating in the country… Source : Aaj News

MOL Pakistan, the operator of Tal Block, has signed a contract for the Manzalai Field Development Surface Facilities, worth $119 million with a consortium, PDIL, here. Manzalai field is located in the Karak and Hangu districts of NWFP.The target of the project is to produce 200 mmscfd natural gas and 4,000 BPD condensate as the second stage of the Manzalai Field development. Together with the first stage the planned production from the Manzalai Gasfield will be 250 mmscd and 4,500 BPD condensate…. Aaj News

Market Low : 15,122.76 High : 15,263.16

Market Close : 15,199.37 – 76.61 points up.