https://soundcloud.com/zafar-stocks/pakistan-stock-exchange-market-behavior-6-january-2016-with-future-prediction-zafar-securities
Wednesday 6 January 2016
Zafar Stocks KSE 100 Index - PSX (Zafar Securities Pvt Ltd)
ZSL, Day Wrap
Market participation started shrinking again to clock in at 100mn shares compared to 142mn yesterday. Towards the end, the 100 index closed down 15.21 points (-0.05%) at 32,968.26 after a range bound choppy day at the bourse. Major contribution to down side came from HBL, NESTLE, MCB, OGDC and FFC, while on the flip side SEARL, BAHL, FEROZ, GLAXO and EFERT contributed gains to the index.
During the session, intraday crude oil prices declined in the wake of stronger USD and weak Chinese growth data by more than 3% (USD 34.80 intraday low) despite expected draw down in US inventories as well as ongoing tensions between Saudi Arabia and Iran. In another major development, North Korea tested hydrogen nuclear bomb (calling it the “H-bomb of justice”) marking the country's first nuclear test in three years and consequently received condemnation from the U.S., Britain and Japan among others.
We maintain our stance regarding the overall sentiment being weak consistently. We are still of the view to stick to sidelines for now.
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