Bulls return back to the Pakistan Stock Market as KSE-100 index gains over 1600 points in intraday session. The benchmark index of the Pakistan Stock Exchange (PSX) resumed positive trading on Wednesday, one day after the benchmark of major shares saw its largest daily decline. The index lost (-2534.12) points in the previous session.

KSE 100 READY FOR A PULL BACK OR A SMALL CORRECTION?

KSE100

KSE100 PAKISTAN STOCK MARKET SUMMARY 2023-12-27 at 3.51.37 PM

The Benchmark KSE100 Index closed the session Green with index posting an intraday high of 1,838.90 (3.11%) points and an intraday low of -412.49 (-0.70%) points. PKR continues positive momentum and Oil trading right on EMA55 resistance on a daily timeframe.

OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT

 

The VOLUME and VALUE TRADED (000’s) stood at 393,666,883 and Rs.11,943,522.76 respectively. Index closed at 60,863.62 pts addinf 1692.64 points from the index. Sectors contributing positively to KSE100 index included Commercial Banks sector (+396.66pts), Power Generation and Distribution sector (+207.60pts) and Cement sector (+193.61pts). Companies contributing positively to the index included HUBC(+169.73pts), MEBL(+113.65pts), SYS(+86.63pts). The volume leaders included KEL(+8.27%), FFL(+7.46%), PTC(+3.00%). The scrips traded 102.14 million, 58.06 million and 55.41 million shares respectively.

MARKET FRONT

CFDs on Brent Crude oil posted an intraday high of $80.98 and intraday low of $80.30. Oil is currently trading at $80.36 (4:03pm Wednesday, 27 December 2023 (GMT+5) Time in Pakistan).

CFDs on WTI Crude Oil posted an intraday high of $75.61 and intraday low of $74.98. Oil is currently trading at $75.05 (4:03pm Wednesday, 27 December 2023 (GMT+5) Time in Pakistan).

OIL GOING UP? – TECHNICAL ANALYSIS

USOIL_2023-12-27_16-05-03

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