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Sunday, February 9, 2020
Week 06-2020 Closing Notes
Market continue to post dismal performance in line with our expectations posted earlier.
WoW basis, average market cap fell by a whopping -247.69 billion PKR posting the biggest weekly loss of 2020 so far.
Looking forward we expect the market to bottom out soon which will be an opportunity for patient investor to accumulate. Expected support falls in range of 39800 - 39500 - 38800 +/- 100 points.
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...