CAPITAL MARKETS

 

1- FOREX KERB WATCH

2- COT WEEKLY REVIEW

3- FINEX WEEK

4. STOCK WATCH
5. STOCK MARKET AT A GLANCE


FINEX WEEK


By SHABBIR H. KAZMI
Updated Feb 26, 2005

 

 

Market experienced volatility last week as overnight funds traded between 0.30% and 4.00°/Q. Rates took a hike after the State Bank intervened and accepted Rs.11.40 billion through an OMO in one week bringing the rates to around 4.00%. However, at close of the week rates crashed and trading again took place as low as 0.30%. Heavy volumes were traded in one and two‑weeks with initial deals executed around 2.50% and 3.00%. Later activity was seen in the range of 3.50% to 3.75% respectively. No major movement was seen in the one‑month tenor where rates hovered around 3.75% to 4.25%. T‑bills demand was seen in the secondary market and bids and offers for the latest three‑month paper was quoted in the band of 4.60% and 4.50%. However no trades were noted. Due to the T‑bill demand three and six month's trades were seen around 4.75% and 5.25%. Bond market was volatile where initial trades were seen as high as 8.30%. Later, as demand eased, bond rates touched 8.24%.

FUTURE OUTLOOK

With a total inflow of around Rs. 50 billion, rates in inter‑bank market are expected to remain at current levels. Similar trend is likely to continue with major activity likely to be confined in the shorter tenors. Six‑month T-Bill auction is also due this Wednesday and market is anticipating another sharp rise in the cut­off yield.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

06.00

05.80

02.10

2 Year

06.40

06.35

02.85

3 Year

06.50

06.65

03.60

4 Year

07.40

07.30

04.35

5 Year

07.45

07.60

04.60

10 Year

08.26

08.40

06.28

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Feb 16 T-Bill 03 Mth. Feb 16 Feb 17
Feb 16 T-Bill 12 Mth. Feb 16 Feb 17

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 70,000 Mln   

Rs. 105,300 Mln

Rs. 63,025 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

FIB/PIB

16 Feb 

491 mln.

FIB/PIB

17 Feb 

89,900 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

00.75

01.00

00.20

1 Week

01.25

02 25

00.70

1 Month

03.80

03.95

01.00

3 Month

04.45

04.45

01.40

6 Month

05.10

05.25

01.55

1 Year

05.70

05.50

01.90

 


 

TREASURY BILL RATES
MATURING THIS WEEK 1 WEEK AGO 1 YEAR AGO

1 Month

04.10

04.25

01.10

2 Month

04.40

04.40

01.30

3 Month

04.50

04.50

01.40

4 Month

04.70

04.70

01.45

5 Month

04.90

05.80

01.50