KSE100 likely to extend gains

The Mint PK

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KSE100 likely to extend gains

  • Market has gained 7.6% or 2,207 points in last three trading sessions

The benchmark KSE-100 index opened on a positive note and remained positive throughout the last trading session closing with a gain of 553 points with a traded volume of 106.22mn shares.

The Pakistani Stock Market continued to surge on the third consecutive session. The local bourse is approaching towards middle Bollinger band which is currently lying at 31,244 points.

The technical charts reflect that the index has support near 30,300. A break below this support level could drag the index towards 30,000.

On a bullish momentum, KSE-100 could face resistance near 31,300. A break above this level could lead the index towards 31,600.

Positive news from ongoing FATF review, curtailment of NAB powers and inversion in the yield curve (as highlighted in PIB Auction) is expected to make market extend the gains made in the last three trading days.

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