Karachi Stock Exchange Reports
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Tuesday, October 6, 2009
Market Close !
Equities witnessed strong pullback covering some of the losses this week closing today +1.7%. Attock refinery, a serious speculative stock announced results that disappointed investors with stock hitting lower lock setting a depressing tone at the start. Most oil stocks came under pressure with index heavy weights OGDC and POL trading low volumes at day lows. Mansha Group stocks (MCB, NML, DGKC, and AICL) surprised many with MCB leading the pack probably a pullback after last three day falls. Possible negative ahead for MCB could be RBS deal hitting snags. PSO gained to hit upper lock with market players brushing aside news of probable tax evasion allegation by tax authorities to the tune of PKR57bn. On a wow basis, market did see a 4.4% correction before support below 9250 and today's pullback minimizing declines to 2.2% from weeks low.
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