PSX Daily Market Review 09 May 2016

The Bench Mark KSE100 Index is about to complete its 100% correction of its last bearish rally as 161.8% expansion of its last correction is already completed and right now it may face a strong resistance from its weekly double top around 36320.51 along with its history high of 36471.68 points. Closing above 36471 will call for a further advance towards 37000 and 37500. Incase of reversal Market will find a supportive region around 35662 and 35055.

The Bench Mark KSE100 Index Opened at 35941.47 points and posted high of 36203.51 points while dropped back towards day low of 35832.32 and session suspended at 35973.68 points with net change of 32.21 points and net trading volume of 218.34 million shares. Daily trading volume of KSE100 Listed companies increased by 47.03 million shares or 27.46% on DOD bases. Market Capitaliztion of KSE100 and KSE30 Indices increased by 876.62 and 276.04 million Rs or 0.05% and 0.02% respectivley on DOD bases, but Market Capitalization of KSE ALLSHR index dropped by 3704.55 million Rs or 0.05%.
Foreign Investors reamin in net buying of 2.78 million shares and net value of Foreign Inflow increased by 5.01 million US Dollars. Categorically Foreign Corporates and Overseas Pakistanis remain in net buying of 1.82 ad 0.98 million shares but Foreign Individuals remain in net selling of 16912 shares. While on the other hand Local Individuals, and Brokers remain in net buying of 11.44 and 3.61 million shares respectively but local Companies, Mutual Funds and Banks remain in net selling of 6.47, 2.28 and 4.32 million shares respectively.