12 November 2010 - Daily Bulletin

Report Summary

More Selling on the Cards Today... Expect the selling activity of yesterday to continue today. The MPC has cut the O/N borrowing rate to 1.75% from 4.75%, while keeping the policy rate stable at 7.0%. We might expect this borrowing rate cut to impact the market negatively for the short term by discouraging short-term flow to it. Technically, the index seems to be pressured between 70,000 and 68,000, with movement below 68,000 that may end up at 62,000. Also expect stock-selective movements over the earnings results. Better: DOAS, ALARK. AKSEN, Worse: THYAO, AKENR.

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