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Friday, November 22, 2019
KSE 100 Index Review - Week 47 Closing Bell
KSE 100 honored its critical support with in the expected range predicted on 17 Nov and completed its technical correction cycle. Day opened on a negative note where index first dipped to its final support before bulls returned to the race closing the index at 37925 points, slightly missing the 38K critical resistance by razor margin.
Overall market performance remained satisfactory and with in our expectations envelope with acceptable margin of error.
Lead buyers today were mutual funds again, we suspect these are funds putting their surplus liquidity back into the stock market after 20 Nov T-bills auctions which saw fund heavily on the selling side.
Technically speaking, 42800 +/- 300 is proving to be a firmly held bottom but overall bears refuse to surface. The major trend remains side ...
The week started off with the COVID-19 Omicron variant washing global markets into deep red, causing the index to briefly hit its second ma...