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Wednesday, May 13, 2020

Week 20-2020 Mid Update: The Snake Dance

KSE100 has continued its see-saw behaviour, a hallmark of correction and once again closed above a major resistance of 33600 +/- 100. Instability is expected to continue throughout the consolidation phase as sectors exchange hands. We advise accumulating in favourable sectors which are clinging near to their supports. 

A marginal gain of +2 PKR/Billion was observed intraday which registers as neutral impact.