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Wednesday, July 22, 2020
KSE100: Week 30-2020 Mid Update
The index has been exhibiting whipsaws throughout the week perhaps due to bulls taking intraday breaks for a catwalk at Karachi cattle market. But upward momentum has once again begun to take strength, opportunist buyers are luring the bulls with fresh green grass (money).
Market capitalization is fluctuating in a narrow margin, with DoD figures prevailing above the previous week average so far, which is a good indication of bulls returning to strength. It's too early to slaughter them!
Looking forward, we reiterate our views of the previous week to remain valid for this as well.
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...