Technical Analytical Outlook
Both indices picked up modestly as we approach the take-off point in the rounded bottom formation on the daily charts. Three big crossings (JKH – Rs.223.6 million, HNB – Rs.52.7 million and PCHH – Rs.50 million) boosted the day’s turnover helping it to reach a decent Rs.756 million.
Everybody is eagerly awaiting an official announcement from the Ministry of Finance regarding the deliberations he had with the SEC, CSE and the Stockbrokers during the recent past.
Next monetary policy committee meeting is scheduled for Wednesday, August 8th when a announcement on policy rates will be made.
We like to stress again that this is probably the last chance to grab the bargains still available in plenty.
Capital TRUST Research research@capitaltrust.info