8:39 PM
Admin
After fell below its 50 week MA level STI recover some points in previous week and this week STI recovers its previous 5 weeks losses and closed higher.
STI opens above the psychological level of 3000 @ 3001.52 and traded in the northward direction, it made low of 2997.87 in the week and took support @ this level and made week high @ 3083.26 levels. Finally closed @ 3069.39 with gain of 80.11 points up by 2.70% wow basis.
Macro Economic Factors
October Industrial Production contracted for the 3rd consecutive month by 2.1% y/y. However, it contracted less than in September (-2.8%) largely due to an improvement in electronics output (October: -6.1% y/y; September: -13.2%) and chemicals (October: +13.7; September: - 0.4%).
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