August 04, 2008
Stocks plunge on capping of oil firms? margin
Posted by: Thinker : Category: News
SHARE values last week again finished sharply lower as the KSE 100-share index took another massive plunge at the weekend session followed by reports of margin calls on some of the brokers owing to a galore of fresh lower locks on most of the blue chip counters. The market is the victim of both selling and support from any quarter and until the consolidation forces come to the aid of a terribly weak market, the erosion in values could intensify in the coming sessions, analysts fear. The failure of strong mid-week rally to extend itself as cap on margins of oil marketing companies and 2.5 per cent cut in deemed duty on refineries to 7.5 per cent from 10 per cent again triggered a lot of…
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