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Tuesday, December 31, 2019
KSE 100 - Index Update 31 Dec
Last trading day of the year closed on negative note with 40900 +/- 100 taking the crown of unbeaten challenge. Index failed to sustain a close equal to or higher than its previous 52 weeks high of 41700 +/- 100 points. Looking forward, we expect the holiday period of western hemisphere to keep the index in negative territory.
Market capitalization dropped by -24.26 billion PKR, which can be attributed to margin unavailability ahead of banking holiday on 1st of Jan 2020. Major event today was MTB auction ( link here ) which typically has a tendency to drain capital out of the market.
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...