KSE 100 on path of recovery

Amanullah KhanAmanullah Khan
Karachi
KSE 100 Index which has been suffering from political uncertainty showed some resilience at 40468 levels with a slight gain of 7 points to close in green amid apparent lack of interest of the investors. According to market analysts, the current formation on daily charts indicates that it seems like the index could find support zone near 39,700 on daily charts.  A break below this support could further lead the index downward to 39,250 levels. Meanwhile the cautious approach of the investors in the face of volatile political conditions the market volume continued to suffer as it was as low as usual at 150 million all shares where TRG was the volume leader of the day with a trade of 12 million shares to its credit. The two volume chasers of the day were Chakwal Spinning and the Bank of Punjab with trade volumes of 7.51 million shares and 7.45 million shares to their credit respectively.

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