On Last day before EID holiday’s KSE made history with lowest ever volumes traded. Only 0.9851 million shares managed to change hands. 13% stocks closed green, 17% stocks closed red while 69% stocks remain unchanged. Foreigners bought 17% and were not able to sell. CFS investment is at 15.167 billion rupees with average annualized rate jumping as high at 45.46%
Technically market is maintaining its strong bearish downward trend.
Recommendation: Sell
Internationally stocks are not impressed with USD 700 billion package. Unemployment data is certainly not helping the cause. Oil prices closed below 94$.
KSE calendar:
- Brokers meeting up with Minister of finance: Ary
- SECP has advised to remove freeze.
Rumors:
- Freeze will open either on 8th or 15th October depending upon settlement around different houses.
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