Skip to main content

PSX held well...Oil on rise again

PSX held well today considering a historic day of  political activity. KSE100 Index closed at 44,338 down 101 points. The fact that the market recovered substantially after having broken 44k level is a good sign and positive performance. 

Trading activity today was less than yesterday. There was again selling in 'Banks' from 'foreigners'.  Yesterday there was substantial decline in future exposure. In general the market appears to be in sound shape.

On political front it now clear that this Government is out. Expect to see a good market performance tomorrow.

Oil again on the rise after decline for three days. Brent currently trading at $114.2

Popular posts from this blog

Brent Crude Logs Biggest Weekly Drop Since September on Weak Demand, Easing Tensions

Oil prices were under pressure this week. Brent crude oil futures fell 1.9% to $73 per barrel on Friday, registering the biggest weekly loss since early September, with prices dropping over 7%. The decline was attributed to weaker demand forecasts from OPEC and the International Energy Agency (IEA), slowing economic growth in China, and signs of easing geopolitical tensions in the Middle East. Both OPEC and the IEA revised down their demand forecasts for 2024 and 2025. China's refinery output declined for the sixth consecutive month, impacted by weak fuel demand and the growing adoption of electric vehicles (EVs). Meanwhile, U.S. crude oil production reached a new record last week. Although a drawdown in U.S. crude inventories and stronger-than-expected retail sales in September provided some support to oil prices, easing concerns about a broader conflict in the Middle East exerted additional downward pressure on the market.
Read more
 A Snapshot of Exchange Traded Funds at PSX
Read more

PSX Strongly Rebounds

The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.
Read more