Trading range of the KSE100 Index at the Pakistan Stock Exchange remained at 501 points between the highest and lowest marks of the day and closed with a 385-point increase at 30,057 points.
Mixed economic numbers are also suggestive of a
trading range for stocks, including string consumer trends and soft manufacturing numbers.
After hitting a low of 1472.66 on Monday, the move back above 1500 puts the index back into its long-run
trading range between 1500 to 1600.
'
Trading range still remains at 7,350-7,700, with the latter being a possible breakout point if inflation does log in lower than expected figures,' he added.
Trading range should be between the recent lows and highs of 7,350 and 7,700," he said.
Summary: Against the UAE dirham, it is likely to sustain 22.73-23.00
trading range, reflecting a slight decrease of 1.25 per cent.
Against euro, the rupee was seen in recovery stage
trading range bound amid variations.
The gold market is still caught in a
trading range. Prices are hovering between $1,300 and $1,350 per ounce since the start of the year.
'But we expect tight
trading range to persist for the ringgit on the back of little local bond activity, and it is likely to move sideways,' the dealer told Bernama.
KARACHI -- The stock market endured a dull session on Thursday with the benchmark index
trading range bound throughout the day.
The candlestick chart is a visual aid that shows a day's opening and closing price, the
trading range, and the direction of movement, he says, and looking at charts for a number of stocks shows the breadth of trading as well.
The gold market saw a bullish upside "breakout" from a sideways
trading range on the daily bar chart, which prompted technically oriented traders to step in on the buy side.
