The Weekly Bull - December 06, 2019
The Numbers Game
KSE 100 continued to rally throughout the previous week. The overall performance of the market has been great as an appreciation was seen in terms of stock points as well as trading volumes. The week started with KSE 100 trading at 39,212 and is currently trading at 40,729. The trading volumes currently stand at PKR 327m which is 25% more than the previous week.
Till now the index has recovered 11,965 points from its recent lows of 28,670 points recorded in August 2019. Most experts expect the market to remain positive in the upcoming week on the back of improving macroeconomic numbers, drop in fixed income yields, stable exchange rate which has been so for the past four months and a positive outlook on monetary easing. Investors would also be relieved as the dust on the political horizon appeared to settle down, providing a clearer view of the medium-term outlook.
The crypto market has finally started to see some stability in terms of global market cap and trading volumes. The week started off a little rough as market cap declined from $203bn to $195bn but since then, the market has started to recover and the market cap currently stands at $201bn. However, trading volumes stayed stable throughout the week and currently are recorded at $59bn.
Pakstan’s large-scale industry continues to contract, agriculture shows promise. PBP.
TPL Insurance, Pakistan’s sixth largest non-life insurance company, is close to securing a PKR 1bn investment from international investors, an investment that would allow the company to invest in expanding its operations and key strategic growth initiatives. Pakistan Today.
Crypto-currency liquidity increases as Kraken, a cryptocurrency exchange, adds support for the Swiss Franc. Kraken Blog.
Russian mining giant and the biggest refined nickel producer, Norilsk Nickle PJSC, begins testing digital trading platform. Bloomberg.
Microsoft catches the attention of Azure community members after announcing Azure Heroes, a way to earn digital collectibles for meaningful impact in the community. Microsoft Press.
Canada-based cryptocurrency mining company Great North Data has submitted a bankruptcy filing, purportedly due to insolvency. CBC News.
South Korea’s largest telecoms provider, KT Corporation, is boosting a partnership with China Mobile targeting blockchain technology and 5G roaming. Korea Herald.
Ethereum Gets Another Big Development Boost From Ernst & Young. NewsBTC.
Ripple Files Last Bid to Dismiss XRP Securities Lawsuit Before Court Meeting. CoinDesk.
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, spoke about cryptocurrency during a press conference on Thursday. He also talked about the prospect of an RBI-issued digital currency, when the time will be right for issuing one, and his view on private digital currencies. News.BTC.
Crypto Startups to Get up to $75,000 From the Government of Ukraine. News.BTC.
Search Trends Indicate Interest in Bitcoin Halving Building. BTCNews.
Africa will define the future of Bitcoin, Says Jack Dorsey, CEO of Twitter. CoinTelegraph.