- Due to toothache I was not able to sit online much.
- We will be only doing weekly updates unless really important.
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Monday, January 13, 2020
Week 02 - Closing Notes
Index remained bullish, closing at its intraday resistance and expected to keep the run until it hits its exhaustion in the range of 43800 - 44300 +/- 100 points.
WoW basis, average market cap grew by meager +16.43 billion PKR. Market once again entered the saturation territory of 8000+ billion PKR. Overall, it seems that bulls exhaustion is coming soon.
Looking forward, we expect the index to post moderate growth during week 03-2020 with critical event of MTB auction falling on 15th Jan, second auction falling at 28th Jan and PIB auction falling at 21 Jan. Together, this represents a serious capital drain risk on the market.
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