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 Apr 09, 2005

 

 

The money market remained on the firm side for most tenors throughout the last week. However, volatility was seen in the overnight trades as deals were settled around 5.50% for most part of the week, but tumbled to below 1% when the State Bank of Pakistan intervened through an OMO mopping up Rs.5bn in one-week with little or no effect as rates continued to stay at their low levels.

One and two-week tenors were also actively traded in a band of 4.00% and 1.5% and 4.75 and 2.75%, respectively. One-month received bids and offers in a band of 4.25% and 4.75% with some trades settling at around 4.40%. Longer tenors remained calm with bids for three and six-month quoted at 4.75 and 5.40% against offers at 5.25% and 5.80%.

Demand for three and six-months T-bill continued in the market with bids at 4.80% and 5.60% against offers at 4.60% and 5.50%.

Bond market remained calm as banks were hesitant to take long positions in securities as bids and offers were quoted in a band of 8.35% and 8.25%, respectively.

FUTURE OUTLOOK

Due to the heavy inflow of around Rs99 billion in the upcoming week rates are likely to remain at the prevailing levels. T-bill three and twelve month is also due in the coming week as market is expecting a lesser T-bill target compare to the maturing amount.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

06.30

06.30

02.30

2 Year

06.65

06.60

03.00

3 Year

06.80

06.80

03.68

4 Year

07.40

07.40

04.50

5 Year

07.50

07.50

04.82

10 Year

08.34

08.32

06.42

 


 

 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Mar 30 T-Bill 6 Mth. Mar 30 Mar 31

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 10,000Mln 

Rs. 31,825Mln   

Rs. 22,550Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

FIB/PIB

20 Apr 

01,523 mln.

T-BILL

14 Apr 

94,150 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

02.00

03.75

07.45

1 Week

02.50

04.00

03.00

1 Month

04.40

04.95

01.90

3 Month

04.85

05.20

01.80

6 Month

05.45

05.60

01.95

1 Year

05.85

05.90

02.20

 


 

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

1 Month

04.65

05.25

01.90

2 Month

04.70

05.10

01.85

3 Month

04.90

05.20

01.75

4 Month

05.10

05.40

01.80

5 Month

05.40

05.60

01.85