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 Mar 19, 2005

 

 

On Wednesday, State Bank conducted three and twelve-month T-bill auction with a pre-auction target of Rs50 billion. Banks put in bids worth Rs11.0 billion mostly for the three-month paper. Bids worth Rs76.80 billion were accepted in the three-month paper at a cut-off yield of 5.0107% and Rs2.60 billion in the one-year paper at 5.9785%. Demand for T-bill was seen in secondary market and trades in the latest three-month T-bill were struck around 4.85%.

Excess liquidity in the system during most part of the past week kept rates on the lower side. Activity in the overnight tenor was seen in a wide band of 0.25% to 4.50% starting on the lower side and firming after the State Bank intervened through an OMO and accepted a total of Rs9.50 billion in two weeks. After this outflow, rates hiked to 4.50% temporarily and finally eased to below 1.00%.

One and two-week trades saw a similar trend where initial activity was around 1.50% and 2.50% but as the week progressed rates were seen as high as 4.50% and 4.00%, respectively. One-month funds traded between 3.50% and 4.75%. Three and six-month tenor saw no major activity but rate were quoted in a hand of 4.500/0 and 5.10% for three-month and between 5.10% and 5.60% for six-month.

FUTURE OUTLOOK

Rates are likely to stay firm during the current week.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

06.10

06.00

02.00

2 Year

06.40

06.40

02.80

3 Year

06.60

06.60

03.60

4 Year

07.20

07.15

04.45

5 Year

07.40

07.20

04.80

10 Year

08.13

07.90

06.38

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Mar 16 T-Bill 3 Mth & 1yr Mar 16 Mar 17

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 50,000 Mln 

Rs.79,40 Mln  

Rs.15,820 Mln  

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

FIB/PIB

16 Mar 

03,278 mln

T-BILL

17 Mar 

36,950 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

01.00

01.25

00.15

1 Week

02.75

02.50

00.40

1 Month

04.25

03.70

01.25

3 Month

04.75

04.40

01.45

6 Month

05.45

05.00

01.60

1 Year

05.85

05.85

01.85

 

 

 


 

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

1 Month

04.55

04.25

01.35

2 Month

04.65

04.55

01.40

3 Month

04.80

04.70

01.45

4 Month

04.90

04.80

01.55

5 Month

05.10

04.8S

01.65