Morning Market Brief 21st Oct. 2021

The Benchmark KSE100 index had continued its bullish journey during last trading session and it succeeded in crossing another mile stone by closing above 45,430pts. As of now it's expected that index would try to target 45,760pts initially and if it would succeed in penetration above this region then next target would be 45,980pts. It's recommended to stay cautious and post trailing stop loss on existing long positions because index have a strong resistant region ahead where its being capped by a descending trend line, meanwhile hourly momentum indicators are ready for bearish crossover which indicates that if index would not succeed in penetration above its resistant regions then an intraday dip could be witnessed. On flip side in case of rejection from its resistant regions index would try to establish ground above 45,100pts and breakout below this region would call for 44,860pts.

LCCI wants review of free trade deals

The Lahore Chamber of Commerce & Industry Wednesday called for post-Covid review of Free Trade Agreements with regional countries including China.The demand was raised by the LCCI President Mian Nauman Kabir after having a meeting with the delegation of Pakistan Plastic Manufacturers Association (PPMA), led by Chairman of Punjab Industrial Estates Development & Management Company (PIEDMC) Syed Nabeel Hashmi at the Lahore Chamber of Commerce & Industry. LCCI Senior Vice President Mian Rehman Aziz Chan, Central President of PPMA Haji Ikhlaq Ahmad, Chairman North Zone S.M. Tariq and LCCI Executive Committee Member Fiaz Haider also spoke on the occasion.Read More...