The KSE-100 index bears kept the ring to themselves third day in the week. PSX witnessed bloodbath this whole week with index losing nearly 4000 points with two days left to close the week. Profit booking is the major driver of this downturn. The index lost (-2371.64) points in the previous session.

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

KSE100

The Benchmark KSE100 Index closed the session Red with index posting an intraday high of 428.02 (0.68%) points and an intraday low of -1,750.53 (-2.79%) points. PKR gains another 11 paisas against USD and Oil conquers EMA21, trading above the moving average.

20 DECEMBER KSE100 MARKET SUMMARY

OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT

 

The VOLUME and VALUE TRADED (000’s) stood at 662,617,320 and Rs.20,411,116.55 respectively. Index closed at 62,448.01 pts losing -385.02 points from the index. Sectors contributing negatively to KSE100 index included Commercial Banks sector (-117.68pts), Cement sector (-74.94pts) and Fertilisers sector (-55.36pts). Companies contributing negatively to the index included ENGRO(-56.40pts), OGDC(-54.79pts), LUCK(-44.23pts). The volume leaders included KEL(+7.39%), WTL(-10.64%), CNERGY(-2.51%). The scrips traded 280.81mn, 211.12mn and 54.40mn shares respectively.

MARKET FRONT

CFDs on Brent Crude oil posted an intraday high of $80.25 and intraday low of $79.09. Oil is currently trading at $80.21 (4:20pm Wednesday, 20 December 2023 (GMT+5) Time in Pakistan).

CFDs on WTI Crude Oil posted an intraday high of $75.01 and intraday low of $73.88. Oil is currently trading at $74.94 (4:20pm Wednesday, 20 December 2023 (GMT+5) Time in Pakistan).

OIL GOING UP? – TECHNICAL ANALYSIS

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