Morning Market Brief 26th Oct. 2021

The Benchmark KSE100 index is facing pressure since last trading session and it can be said that index is trying to accumulate momentum to retest its resistant regions. Currently index is being capped by a strong resistant trend line along with a horizontal resistant region therefore it's recommended to say cautious and post trailing stop loss on existing long positions because index would face initial resistance at 45,760pts which would be followed by 45,970pts and 46,200pts. Overall sentiment would remain bearish as long as index is trading below 46,200pts but breakout above this region would call for 46,500pts and 46,960pts. While on flip side index would try to establish ground above 45,100pts in case of bearish pressure and this region would react as a strong support but breakout below this region would call for 44,950pts and 45,570pts. Daily momentum indicators have changed their direction towards bearish side but it's recommended to wait for confirmation before initiating new short positions.

Engro Fertilizers recognized as largest taxpayer in sector

Engro Fertilizers, Pakistan’s premier seed-to-harvest solutions provider, has been recognized as the “Largest Taxpayer in the Fertilizer Sector”, in a ceremony held at the Aiwan-e-Sadr.Nadir Qureshi, CEO of Engro Fertilizers, received the award from the President Dr. Arif Alvi, who was the chief guest on this occasion. According to Nadir Qureshi, “For over 50 years, Engro Fertilizers has remained committed to serving the farmers of Pakistan with world-class products and solutions. Our contributions to the community and the national exchequer are a testament to our philosophy of doing good while doing well. We fully support the Government’s vision of transforming the agricultural landscape and improving the well-being of the farmers of Pakistan.Read More...