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Friday, January 31, 2020

Week 05-2020 Closing Notes

Index has broken it first band of support at 41800 +/100 (link here) to close lower and expected to continue the dip in days ahead. 

WoW basis, average market cap has fallen by another -87.57 billion PKR marking a two weeks continuous streak of value erosion at the bourse. 

Looking forward, we expected a moderate uptrend on 3rd and 4th FEB-20 due to futures settlement after which market may resume its downtrend. Reversal is not expected until mid of Feb 2020. 

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