Friday 15 January 2016
Zafar Stocks KSE 100 Index - PSX (Zafar Securities Pvt Ltd)
ZSL,Day Wrap
And the market continues to be in bear grip as once again the decline in crude oil prices managed to wreak havoc at the local bourse sending the 100 index whirling down to close at 31,001.49, down 439.53 points (-1.42%). Taking their lead from the regional and European indices the investors were quick to dump intra-day positions, liquidate some of their current holdings and changed their outlook from a possible bottom in oil prices to expectations of a new low in coming days during the second half of today’s session. During the course of the session crude oil prices crashed from USD31.18 in the morning to 29.39 in the second session.
During the outgoing week, the 100 index shed 1,619.95 points (-4.98%). Major laggards during the week were HBL, OGDC, PPL, DAWH and POL.
From its 52wk high in August, 2015 the index is down 15.24% and officially entered in a bear market territory.
Our outlook for the future remains grim; with next support hovering at 29,500.
Pakistan Stock Exchange Market Behavior 15 January 2016 With Future Prediction (Zafar Securities Pvt Ltd)
https://soundcloud.com/zafar-stocks/pakistan-stock-exchange-market-behavior-15-january-2016-with-future-prediction-zafar-securities
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