KSE-100 CLOSES THE WEEK MARGINALLY NEGATIVE - 66130.02 POINTS

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.

PAKISTAN SAVES RS411 BILLION BY TERMINATING POWER CONTRACTS WITH IPPS

PSX SUMMARY: A DAY OF UPS AND DOWNS

FBR FILE FIR AGAINST POWER CEMENT FOR TAX FRAUD

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).