KSE-100 index posted a daily gain closing at 66130.02 points. The index marginally closed the week negative with losing (-93.61) points for the week. The index added (+170.02) points in the previous session.

KSE-100 Index has been on a non-stop bullish rally attributed to several factors amongst which is (SLA).

The (IMF) and Pakistani authorities successfully negotiated a staff-level agreement (SLA) during the first review under the Stand-By Arrangement (SBA).

Pakistan will have access to SDR 528 million, or roughly $700 million, through the agreement, provided the IMF’s Executive Board approves it.

KSE100

The Benchmark KSE100 Index closed the session green with index posting an intraday high of 896.58 (1.37%) points and an intraday low of -109.30 (0.17%) points. PKR appreciated against the US Dollar and Oil continues upward momentum but still trading below all the major moving averages on a daily time frame although trading on a support region.

OIL LOOKS INTERESTING – TECHNICAL ANALYSIS

 

The VOLUME and VALUE TRADED (000’s) stood at 981,367,619 and Rs.21,938,660.78 respectively. Index closed at 66,130.02 pts adding +679.83 (1.04%) points to the index.
Sectors contributing positively to KSE100 index included Oil and Gas Exploration sector (+138.96pts), Fertiliser sector (+105.02pts) and Commercial Banks sector (+79.87pts). Companies contributing positively to the index included PPL(+104.69pts), KEL(+64.10pts), MTL(+51.36pts).

The volume leaders included KEL(+12.75%), WTL(+8.00%), CNERGY(+5.84%). The scrips traded 385.15mn, 192.52mn and 184.24mn shares respectively.

MARKET FRONT

CFDs on Brent Crude oil posted an intraday high of $77.10 and intraday low of $76.47. Oil is currently trading at $76.86 (4:54pm Friday, 15 December 2023 (GMT+5) Time in Pakistan).

CFDs on WTI Crude Oil posted an intraday high of $72.07 and intraday low of $71.50. Oil is currently trading at $71.86 (4:54pm Friday, 15 December 2023 (GMT+5) Time in Pakistan).

OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT

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