UFC Capital Released Ukrainian Stock Market Analysis (29 August 2008)
OREANDA-NEWS. On 29 August 2008 was announced, that panic is still the key driving factor in the Ukrainian stock market: on Thursday, the PFTS index collapsed 5.5% to 513 points. Should the bearish sentiments remain prevailing among investors, it is unlikely that psychological mark at 500 points will be a serious barricade for the going down market.
Yesterday, the broad UFC index closed much better than PFTS index by falling just 1.3%. As to the sectoral indices, the top decliner was machine engineering: UFC Engineering lost 2.3%, with breaking through insignificantly its support at 140 points level. Meanwhile, UFC Metals dipped 1.7%, and UFC Utilities – just 0.1%.
The massive sell-outs make the greater number of securities go below their recent support levels. So, yesterday, AZST passed its USD 0.62 mark closing below it. The new support for this security may be a USD 0.4 level. UTEL is gradually declining to the very low levels as well: yesterday, it broke through its USD 0.12 line. We change the current support level for this position to USD 0.08.
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