AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,985 Increased By 101.2 (1.02%)
BR30 31,117 Increased By 516.5 (1.69%)
KSE100 94,113 Increased By 757.1 (0.81%)
KSE30 29,155 Increased By 223.7 (0.77%)

Indian share prices are likely to weaken next week and may fall below 14,000 points despite strong economic growth on an uncertain outlook for interest rates and inflation, dealers said on Friday.
They said buying momentum has weakened in a volatile market, with the benchmark 30-share Sensex unable to cross the 14,200 points level indicating more weakness on technical charts.
The markets ignored improved inflation data, which fell for the seventh straight week to 4.80 percent for the week ending June 2, from 4.85 percent the previous week, official data said on Friday. This is closer to the central bank's so-called aim of 4.0-4.5 percent annual inflation for the year ended March 2008.
But investors say the economy is still roaring as shown by a higher than expected jump in industrial output in April, the first month of the financial year, that has raised a red flag of an overheating economy.
"The markets could slide further, possibly below the 14,000 points levels early next week. A recovery mid-week will only be a technical bounce-back," said Hiten Mehta, fund manager with Fortune Financial Services.
Analysts have speculated that continued strong growth may prompt it to continue a monetary tightening cycle that began in late 2004 to keep prices in check. Indian shares rose marginally by the end of the week with the Sensex gaining 0.7 percent to close at 14,162.71, up 98.9 points from the previous week's close of 14,063.81. The stock market had gained 13.7 percent since March this year, before investors locked-in gains.

Copyright Agence France-Presse, 2007

Comments

Comments are closed.