CAPITAL MARKETS

 

1- FOREX KERB WATCH

2- COT WEEKLY REVIEW

3- FINEX WEEK

4. STOCK WATCH
5. STOCK MARKET AT A GLANCE
6. PAKISTAN WEEKLY REVIEW

 

FINEX WEEK


By SHABBIR H. KAZMI
Updated July 23, 2005

 

 

MONEY MARKET

The rates in the inter-bank money market remained at the higher side. Activity in overnight was confined in the band of 8.00% to 8.90% throughout the week. With overnight rates at the higher side, rates in one and two week were also quoted at the higher levels and were restricted in the band of 7.75% and 8.25% in the respective tenors till the close of the week. One-month tenor was also active during the week with activity initially noted in the band of 7.75% to 7.90%. Later as the week progressed rates took a hike and activity took place in the band of 7.90% to 8.20% respectively. Banks were seen interested in three months tenor where bids and offers were quoted in the band of 7.80% to 7.90%. Later rates in three months also hiked and bids and offers were quoted in the band of 7.95% and 8.10%.

This week SBP conducted T-bill auction for three, six and twelve month's tenors and received total bids of approximately Rs.45 billion. The Central Bank accepted total amount of Rs.18.65 billion against the target of Rs. 10 billion. However, contrary to expectations, the State Bank maintained the cut-off yields for the designated papers i.e., 7.6946% for three months, 7.9869% for six months and for one year 7.6946% respectively.

FUTURE OUTLOOK

With no major inflows in the coming week, rates in inter-bank are likely to remain at the higher levels.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.75

08.75

03.60

2 Year

08.80

08.75

05.70

3 Year

08.80

08.7S

05.95

4 Year

08.95

08.90

06.90

5 Year

08.95

08.90

07.00

10 Year

09.05

09.00

08.40

 

 

 

 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Jul 20 T-Bill 03 Mth. Jul 20 Jul 21
Jul 20 T-Bill 06 Mth. Jul 20 Jul 21
Jul 20 T-Bill 12 Mth. Jul 20 Jul 21

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 10,000 Mln 

Rs. 45,067 Mln 

Rs. 18,650 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

07 July

126,296 mln

FIB/PIB

13 July

01,457 mln.

FIB/PIB

20 July

01,558 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08.50

08.00

07.20

1 Week

08.15

08.15

03.00

1 Month

08.05

08.10

01.90

3 Month

08.05

08.05

02.10

6 Month

08.25

08.30

02.50

1 Year

08.65

08.70

03.00

 

 

 

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

1 Month

08.00

08.00

02.20

2 Month

07.90

07.80

02.10

3 Month

07.80

07.75

02.15

4 Month

07.95

07.90

02.30

5 Month

08.00

07.95

02.40