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Monday, December 27, 2021
Sunday, December 12, 2021
Persistent failures to address economic woes and rapid erosion of political trust have rapidly receded the bourse with economic discourse once again leading to a rentier economy of high-interest rates. Only a miracle or surprise interest rate cut can save the bourse otherwise bears gotta stay!
Monday, December 6, 2021
The week started off with the COVID-19 Omicron variant washing global markets into deep red, causing the index to briefly hit its second major support at 42800 +/- 300. Given the force majeure situation, no technical or fundamental reaction is expected at the bourse. Looking forward, instability is expected to prevail until global stability begins to take shape. Further development at the bourse will depend on the next policy rate announcement.
Another cause of major concern is the steep hike in Pakistan's bond yields. There has been a sharp almost-vertical hike causing major concerns on a further hike of interest rate. Which may prove devastating for the stock market. Average weekly capitalization once again fell in the red, wiping out any gains hoped at the start of the week. Events that may impact the bourse are Ijara Sukuk auction on 9-Dec.
The bourse has rallied but is demonstrating stubborn pivotal resistance at 48200 +/- 100 - we do not see this as a good omen. It could be th...
Bourse remained unstable throughout as per our expectations and weekly closing failed to break the pivotal resistance at 48200 +/ 100. There...