hisah wrote:mlennyma wrote:Current NSE Index: 3109.01
Still negative YTD (-2.42%), but a commendable recoup of losses from the 2789 low having reclaimed the 3000 handle. 3300 is a tough barrier to challenge all the way to 4000 handle which will need a lot of bull power to overcome.
FTSE KE NSE15 index has also rebounded strongly from the Jan 2017 lows and has recouped losses to stand at -0.58% in the red which is a strong bounce from the -12.4% fall.
FTSE KE NSE25 index has also rebounded strongly and is -1.16% YTD better than the -10.9% fall at the lowest point in Jan 2017.
Q1 2017 will likely finish as a choppy quarter where the market movement was a vicious fall and a solid rebound back to the opening level! Q1 bank results is the next watershed for the market going forward as Q2 rolls in. This will give a clear picture of what to expect for the rest of the year.
Didn't expect the market to claw above 3000 so soon though the mini rally appears tired. Nice comeback though driven mainly by the financials as was the sell-off that shaved about 500 points. Sideways action or the downleg to resume.
The current grizzly is now 2 years old from March 2015! In terms of longevity, it has now outlasted the 2008 GFC downturn. Only the pre-kibaki one lasted longer - approximately 8 years. At about 49% loss (peak to trough), the current bear is lagging behind both the GFC @62% and the pre-kibaki bear @80%.
The main purpose of the stock market is to make fools of as many people as possible.