Equity market to sustain pullback in July; FSDH top stock picks

Equity market to sustain pullback in July

After a record-breaking month in March, which saw the equity market rally significantly as the All Share Index (ASI) gained 9.8%, June has been relatively soft in market movements but with a bearish bias. Month to date, the ASI is down 1.7%. The weak sentiment in equities was broad-based as all sub-indices trended lower during the month. We note that the lull in the market was very much in line with our call in our May note. However, despite the weakness, we observed an interesting technical trend as the ASI…

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