Tuesday 5 January 2016
Pakistan Stock Exchange Market Behavior 5 January 2016 With Future Prediction (Zafar Securities Pvt Ltd)
https://soundcloud.com/zafar-stocks/pakistan-stock-exchange-market-behavior-5-january-2016-with-future-prediction-zafar-securities
Zafar Stocks KSE 100 Index - PSX (Zafar Securities Pvt Ltd)
ZSL, Day Wrap
Once again volatility reigned supreme after the arrest of AKD securities’ CEO along with 2 directors yesterday. Following this development, a large number of brokers gathered outside the KSE building today and protested against arrest of their colleagues. The KSE management also took up the matter with Finance Minister Ishaq Dar who has reassured of swift resolution. Towards the end, a judicial magistrate handed over these personnel to the FIA on a five-day remand.
The 100 index remained volatile during the course of the session; shedding 495 points within first 30 minutes, but eventually managed to recover off its intra-day lows to close down 25.66 points (-0.08%) at 32,983.47.
Despite significant recovery off its lows the 100 index may continue to remain choppy & range bound in the light of this incident pertaining to alleged involvement of these personnel in a multibillion rupees scam.
Once again we would like to reiterate that overall sentiment continues to remain weak as highlighted by below average market participation in a trigger less market.
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