Withdrawal of Indian troops from the border also
brightens the sentiments of the investors while anticipation of
upcoming results of Fauji, Engro, PSO and Shell add up the fuel in the
excitement. We are looking forward for another exciting week ahead
with the same reasons behind, where investors may get profit booking
opportunities, before moving ahead. Hubco, National Bank, Engro and
PSO are likely to remain under the spot light.
THIS WEEK'S PERFORMANCE
Historically, if we look at post election market
behaviour, the KSE100 Index has always witnessed huge rallies. This
week was also not exceptional in that sense, though the market
behaviour had more to do with the Shell related speculation and
improving regional security situation. After testing a low of 2036
last week, the Index rallied up by almost 75 points, 4%, during the
week to close at 2112 on Friday.
While the settling dust of election cleared the
view to a certain extend, withdrawal of the Indian troops from the
border also helped to brighten up the situation for the investors,
during the week. On the other hand, the anticipation of upcoming
results of fertilizer and oil sector companies, added fuel in the
excitement. These reasons all together pushed the market across 2100,
which according to our technical analyst is a good move, keeping
longer-term perspective in mind.
OUTLOOK FOR THE COMING WEEK
With the result announcement days coming close for
Engro, Fauji, PSO and Shell, the next week is expected to be exciting
for the KSE-100 Index. According to our technical analyst, Index is
likely to target 2200 this time where Hubco, National Bank, Engro,
PTCL, PSO and MCB may remain under the lime light. While on the
fundamental grounds, positive surprises from Engro and PSO may provide
fuel in the share prices of these two stocks while building up
position in Hubco is likely to be profitable. We advice investors to
book profits in scrips like Shell and Fauji, which gained
exceptionally high during the week and may lose their charm in the
near term.
THE DAILY DRAMA
Rumour on PSO privatization depressed investors
further on Monday, which led the Index to 1999 level. However, later
that day after the clarification from the Ministry of Petroleum gave
relief and index rallied up to close at 2039.
Further clarification from the election front
lightened investors' sentiments and the market rallied up 23 points to
close at 2062 level on Tuesday.
Increase in POL prices triggered bullish euphoria
on the third day and oil sector scrips gained exceptionally and led
the Index to close at 2082.
Further, the news of withdrawal of Indian troops
from the border on Thursday led the Index to climb up to further ten
points and the rally continued on Friday also.
The last day of the week was also quite exciting
since the Index crossed the benchmark of 2100 eventually and closed up
at 2111 for the week.
MARKET ROUNDUP |
| .. |
LAST WEEK |
THIS WEEK |
% CHANGE |
|
Mkt. Cap (US $ bn) |
7.89 |
8.17 |
3.55 |
|
Total Turnover (mn shares) |
610.43 |
747.24 |
22.41 |
|
Value Traded (US$ mn.) |
398.88 |
424.52 |
6.43 |
|
No. of Trading Sessions |
4 |
5 |
|
|
Avg. Dly T/O (mn. Shares) |
152.61 |
149.45 |
-2.07 |
|
Avg. Dly T/O (US$ mn) |
99.72 |
84.90 |
-14.86 |
|
KSE 100 Index |
2036.98 |
2111.73 |
3.67 |
|
KSE All Shares Index |
1270.04 |
1320.1 |
3 3.94 |
