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Thursday, December 12, 2019

KSE 100 - The 40900 Wall - Index Update 12 Dec

Index remained range bound through out the trading day, and honored its first support at 40100 +/-100 (EMA 9D).  Second support stands at 39800 +/- 100 points (EMA 13D) which must be honored to retain the uptrend otherwise index may remain exposed to the risk of down slide. On resistance side 40900 +/- 100 continues to pose as tough nut which must crack for further upside.

Market capitalization increased marginally over previous day showing renewed investor interest to accumulate on dip. However, closing remains indecisive and if index fails to post healthy recovery maximum by second half of Friday, 13 Dec then it may be exposed to long bearish spell. 

PSX Market Cap in PKR / Bn

Dec 12: 7,827.38
Dec 11: 7,799.27
Dec 10: 7,818.32
Dec 09: 7,769.86

(Source: JS Global Daily Market Wrap)

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