Friday, November 6, 2009

Market Close !

Pakistan equities witnessed a listless day today with the index struggling to sustain over 9,200. Although stocks traded in the positive territory for most part of the day, market slipped into red in the later half as broader market selling pressure dragged the index down. Talk of FII interest in Oil stocks namely PSO, POL and OGDC kept interest alive.

Although the market is devoid of any major triggers, inflation numbers due next week are likely to come down to a single digit figure that bodes well for equities. Moreover a possible rate cut in MPS later this month could revive investor confidence. Having said this, market is likely to follow political scenario with next couple of weeks expected to bring about major developments. Security situation and on going military campaign against terrorists are also expected to remain in focus.

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