After posting a low of over 842 points the KSE-100 index bounced back. The KSE-100 index ascribed the declining trend to “some selling by local institutions and a highly leveraged position.” The index added (-1146.62) points in the previous session.
The benchmark index of Pakistan Stock Market had experienced a nonstop rally over the previous weeks, so this was a “much-needed correction.”
KSE100
The Benchmark KSE100 Index closed the session green with index posting an intraday high of 342.40 (0.52%) points and an intraday low of -842.46 (-1.29%) points. PKR appreciated against the US Dollar and Oil gained upward momentum but continues to trade below all the major moving averages on a daily time frame although trading on a support region.
The volume leaders included KOSM(+12.34%), BOP(+8.89%), HASCOL(+7.03%). The scrips traded 160.18mn, 89.77mn and 79.31mn shares respectively.
MARKET FRONT
CFDs on Brent Crude oil posted an intraday high of $76.95 and intraday low of $74.47. Oil is currently trading at $76.85 (8:37pm Thursday, 14 December 2023 (GMT+5) Time in Pakistan).
CFDs on WTI Crude Oil posted an intraday high of $72.10 and intraday low of $69.57. Oil is currently trading at $71.89 (8:37pm Thursday, 14 December 2023 (GMT+5) Time in Pakistan).
OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT