On Tuesday, the Pakistan Stock Market Benchmark (KSE-100) index saw a decline, reaching an intraday low of -871.43 points. The KSE-100 finished the day at 63,737.46, down 531.91 points, or 0.83%, from the previous session. With an intraday high of 64,246.68 (+22.70) points and a low of 63,397.94 (-871.43) points, the index moved within a range of 848.74 points.
The KSE-100 index saw 234.389 million shares traded overall. The index saw a weekly gain of 123 points, or 0.19%, last week. Out of the 100 index companies, 23 ended the day with a higher closing, 72 with a lower closing, 2 with no change, and 3 not traded.
PAKISTAN STOCK MARKET PSX: KSE – 100 WEEKLY TECHNICAL ANALYSIS
MARKET PERFOMANCE KSE-100
In the wider market scenario, the All-Share index concluded at 43,173.72, witnessing a net loss of 269.78 points.
The total market volume amounted to 407.356 million shares, reflecting an increase from the previous session’s 381.734 million. However, the traded value stood at Rs12.63 billion, indicating a decrease of Rs1.43 billion.
Throughout 168,191 reported trades involving 336 companies, 91 experienced gains, 218 recorded losses, and 27 remained unchanged.
MARKET NEWS
The second day of week in Gold Prices in Pakistan, domestic bullion markets in Pakistan witnessed a fall with the price of 24-karat gold dropping by Rs600 per tola to reach Rs217,300.
In a recent analysis by Bloomberg Economics, the spectre of a direct war between Iran and Israel, while deemed unlikely, looms as a potential catalyst for crude oil prices to surge to $150 per barrel. This projection underscores the economic ramifications of geopolitical instability in the Middle East.
In a resounding victory during Iowa’s caucuses on Monday, former President Donald Trump demonstrated his political prowess, solidifying his status as the presumed Republican nominee. This triumph sets the stage for a potential showdown with incumbent President Joe Biden in the November election.
The caretaker government has decisively declared a significant drop in petrol prices, providing relief to Pakistani consumers everywhere. According to a notification released by the Finance Division, the price of petrol would drop by Rs8 per litre starting on January 16 and will remain that way for the following two weeks.
In December, the Roshan Digital Account (RDA) started in year 2020 witnessed an inflow of $160 million, marking a 17% increase compared to November 2023, according to the State Bank of Pakistan (SBP). Out of this total, $7 million has been repatriated, while $120 million has been utilized locally, resulting in a net repatriable liability of $34 million. Cumulative inflows for RDAs surpassed $7.2 billion by the end of December.
