Today is the happiest day for markets in Pakistan-Market performances are directly related to country’s political direction and fortunes in this interconnected world; someone out there must be really pumping a lot of money in Pakistani stocks, for the political change f direction of the country has encouraged this move.. One can rather plot on every breakaway point on market charts political events that has helped the market, the most important being accorded a top ally status by Bush.. Yesterday Rice and day before that Bush statements brought the risk premiums associated within the markets further down
"Is it a bird!, a plane!, no it's KSE100". 10000 mark achieved, a small step towards greater investment prosperity and a giant leap for Karachi Stock Exchange. The market flew with great velocity from its initial opening under the strong leadership of "OGDC", closing on its upper circuit of PRS176.55 up PRs12.30, which without any doubt has become the Mercedes of all scrips.
The market throughout the day observed very handsome buying in most of the stocks such as FFC up PRs5.85, ENGRO, TELE and FFBL all closing on their upper circuits giving the market an impetus to further move upwards. It was an unprecedented day in which the investors had a field day since the beginning as their purchases skyrocketed to new highs under the headship of major pivotals. The market it seems still has the capacity to further appreciate, but the level of 10000 achieved without any major correction has a lot of analysts and investors on the edge of their seats. Volatility in
coming sessions seems very vibrant and it is advised to be cautious, nonetheless it would be better to stay in major blue chip stocks on correction.
Regards,
FCEL Research |
