As traders await tomorrow’s MPC decision to determine the market’s next course, the KSE100 index remained aimless, trapped in a conflict between bulls and bears. The index gained (+1505.56) points in the previous session.

On Tuesday, December 12, 2023, the SBP Monetary Policy Committee will convene to make decisions regarding the Monetary Policy. On the same day, SBP will release the Monetary Policy Statement via a press release.

KSE100

The Benchmark KSE100 Index closed the session marginally red with index posting an intraday high of 340.41 (0.51%) points and an intraday low of -1,094.63 (-1.65%) points. PKR remains steady against the US Dollar and Oil continues to trade below all the major moving averages on a daily time frame although with last two bullish candles on daily timeframe.

OIL LOOKS INTERESTING – TECHNICAL ANALYSIS

The VOLUME and VALUE TRADED (000’s) stood at 613,393,284 and Rs.25,201,937.75 respectively. Index closed at 66,012.33 pts erasing -211.31 (-0.32%) points from the index.
Sectors contributing negatively to KSE100 index included Commercial Banks sector (-254.08pts), Power Generation sector (-100.29pts) and Oil and Gas Marketing Companies sector (-69.72pts). Companies contributing negatively to the index included HUBC(-113.01pts), HBL(-88.98pts), MEBL(-72.12pts).

The volume leaders included KEL(+1.32%), WTL(+2.29%), KOSM(+10.40%). The scrips traded 164.64mn, 93.32mn and 65.31mn shares respectively.

MARKET FRONT

CFDs on Brent Crude oil posted an intraday high of $76.45 and intraday low of $75.03. Oil is currently trading at $75.53 (5:17pm Monday, 11 December 2023 (GMT+5) Time in Pakistan).

CFDs on WTI Crude Oil posted an intraday high of $71.77 and intraday low of $70.38. Oil is currently trading at $70.86 (5:17pm Monday, 11 December 2023 (GMT+5) Time in Pakistan).

OUR WEEKLY KSE100 TECHNICAL ANALYSIS REPORT

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