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 Aug 20, 2005

 

 

MONEY MARKET

The rates in inter-bank money market remained at the higher side with no respite for the borrowers. At the start of the week overnight trades were witnessed comparatively at lower levels and activity took place in the band of 7.50% to 8.00%. As the week progressed rates started to hike and with the net maturity of Rs.26 billion on Friday, banks were unable to cover their position during the trading hours. As a result, heavy discounting of Rs.28.60 billion was reported. Short-term rates of one and two weeks also remained at the higher side during the week and activity in the respective tenors was confined in the band of 7.75% to 8.25% respectively. One-month tenor saw moderate activity in the band of 7.70% to 8.00%. No major activity was noted in the longer tenors of three and six months. However, borrowing interest was present at 7.80% and 8.10% against the offers at 8.10% and 8.30%. The SBP conducted T-bill auction with the pre-auction target of Rs. 25 billion against the maturity of Rs. 41.25 billion. SBP received total amount of Rs. 52 billion and accepted only Rs.14.60 billion and maintained the cut-off yield for one year paper at 8.7907% and raised the cut-off yields for three and six months at 7.8297% and 8.1388% respectively.

FUTURE OUTLOOK

Same trend is expected to prevail in the secondary market and rates are expected to remain at the higher side.

YIELD PROFILE

FEDERAL INVESTMENT BONDS

.

THIS WEEK

1 WEEK AGO

1 YEAR AGO

1 Year

08.85

08.85

03.80

2 Year

08.90

08.90

04.65

3 Year

08.90

08.90

05.00

4 Year

08.95

08.95

05.85

5 Year

08.95

08.95

06.00

10 Year

09.05

09.05

07.72

 

 

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Aug 17 T-Bill 0 3 Mth Aug 17 Aug 18
Aug 17 T-Bill 06 Mth Aug 17 Aug 18
Aug 17 T-Bill 12 Mth Aug 17 Aug 18

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 25,000 Mln 

Rs. 52,050 Mln 

Rs. 14,650 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

FIB/PIB

04 Aug

86,020 mln

T-BILL

20 Aug

01,597 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08 95

08 50

07 40

1 Week

07.75

08.00

05~25

1 Month

07.90

07.90

02.60

3 Month

07.95

07.95

02.25

6 Month

08.15

08.15

02.55

1 Year

08.70

08.70

02~90

 


 

 

 

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

1 Month

07.90

07.90

02.60

2 Month

07.90

07.80

02.30

3 Month

07.85

07.75

02.20

4 Month

07.90

07.90

02.35

5 Month

07.95

07.95

02.55