The market gave up a little gains made during the two previous record sessions due to mainly the local mismanagement of fuel distribution and the global reaction to the war in Ukraine where most global markets were down significantly on the day ours was closed for a religious holiday.
The Turnover and indices were down and the sudden jump in TB rates yesterday was also a reason for the cautious investers who seem to be accumulating on the bargains of selected stocks that will outperform and hedge against the high inflation devaluation and shortages experienced in the local economy. The market is expected to further consolidate on current levels of around 500 point band till next week where better power and fuel supply is expected .
