In Wednesday’s trading session, the benchmark KSE-100 index of Pakistan Stock Market concluded at 63,919.85, marking a modest decrease of 250.73 points or 0.39%. The index exhibited intraday volatility within a range of 677.31 points, with a high of 64,550.94 and a low of 63,873.63. The total trading volume for the KSE-100 index amounted to 336.521 million shares. The index lost (-66.45) points in the previous session.
The VOLUME and VALUE TRADED (000’s) stood at 336,520,914 and Rs.11,368,798.43 respectively. Index closed at 63,919.85 pts losing -250.73 points from the index.
Top ten companies by volume included KEL with 151,248,373 shares, HASCOL with 67,980,000 shares, WTL with 42,068,813 shares, PRL with 34,994,821 shares, PIAA with 29,339,000 shares, FATIMA with 24,060,244 shares, CNERGY with 20,626,605 shares, KOSM with 18,596,000 shares, OGDC with 18,027,804 shares, and FFL with 16,753,953 shares.
The value of the Pakistani rupee (PKR) increased by 06 paisas in relation to the US dollar on Tuesday during interbank trading, ending at PKR281.13 from PKR281.22 the previous day.
Sazgar Engineering Works Limited (SAZEW), a prominent player in the automotive industry, faced a significant downturn in sales during December 2023, as reported in its filing on the Pakistan Stock Market (PSX).
Specifically, MEBL, ENGRO, BAHL, EFERT, and UBL were among the companies that exerted downward pressure on the index. Conversely, PAKT, PPL, INDU, FFBL, and MCB contributed positively to the index.
On the positive side, the index found support from gains in Tobacco, Automobile Assemblers, Oil & Gas Exploration Companies, Synthetic & Rayon, and Transport.
OIL (XTIUSD)
Tuesday saw oil prices rise by more than two percent, offsetting the day’s sharp losses due to the Middle East crisis and a disruption in supply in Libya. Brent futures had jumped $1.90, or 2.5pc, to $78.02 per barrel before 11:59 a.m. (1659 GMT). The price of US West Texas Intermediate (WTI) crude increased by $1.91, or 2.7%, to $72.68. Each benchmark had gained more than $2 and had reached their session highs.
CFDs on Brent Crude oil posted an intraday high of $78.01 and intraday low of $77.03. Oil is currently trading at $77.65 (5:41pm Wednesday, 10 January 2024 (GMT+5) Time in Pakistan).
