The KSE-100 index takes a respite in the downwards trajectory sentiment with the week losing nearly 4000 points. Bulls eventually regained control of the market and it closed higher on the Pakistan Stock Exchange (PSX), although the market started the trading session losing ground. The index lost (-385.02) points in the previous session.

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

KSE100

KSE100 PAKISTAN STOCK MARKET SUMMARY 21:12:2023

The Benchmark KSE100 Index closed the session Green with index posting an intraday high of 402.08 (0.64%) points and an intraday low of -697.04 (-1.12%) points. PKR gains another 11 paisas against USD and Oil retesting EMA21.

BRENT UKOIL_2023-12-21_18-19-09

 

OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT

 

The VOLUME and VALUE TRADED (000’s) stood at 62,742.26 and Rs.12,616,127.42 respectively. Index closed at 62,693.57 pts adding +245.56 points to the index. Sectors contributing positively to KSE100 index included Refinery sector (77.07pts), Oil and Gas Exploration Companies sector (60.66pts) and Oil and Gas Marketing Companies sector (56.13pts). Companies contributing positively to the index included PPL(49.43pts), PSO(37.55pts), OGDC(37.37pts). The volume leaders included KEL(-3.13%), CNERGY(+9.85%), WTL(+1.86%). The scrips traded 209.40mn, 101.56mn and 59.82mn shares respectively.

MARKET FRONT

CFDs on Brent Crude oil posted an intraday high of $80.10 and intraday low of $77.85. Oil is currently trading at $78.24 (6:34pm Thursday, 21 December 2023 (GMT+5) Time in Pakistan).

CFDs on WTI Crude Oil posted an intraday high of $74.55 and intraday low of $72.47. Oil is currently trading at $72.94 (6:34pm Thursday, 21 December 2023 (GMT+5) Time in Pakistan).

OIL GOING UP? – TECHNICAL ANALYSIS

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