https://soundcloud.com/zafar-stocks/pakistan-stock-exchange-market-behaviour-30-december-2015-with-future-prediction-zafar-securities
Wednesday 30 December 2015
Zafar Stocks PSX 100 Index (Zafar Securities Pvt Ltd)
The 100 index started the day on a bullish note, clocking in a high of 32,961.78 (+149.89) but eventually closed on a reactive note at 32,825.03 marginally up by 13.14 points (0.04%). Market participation declined to 79mn from 144mn in the previous session.
Major gains to the 100 index came on the back of MARI, HUBC, OGDC and GHNI. On the laggard side of the day PAEL, POL, SEARL and JSCL .
From technical perspective, despite moving past 20EMA the 100 index retraced its footsteps after hitting the declining trend line and towards the end closed below the said average, signifying a risk averse behavior from traders point of view. We recommend sticking to sidelines and avoid being entangled in choppy trades. Unless index closes above 33,000 levels .
Analyst, Muhammad Naeem Akhtar .
Zafar Securities Pvt. Limited.
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