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 Sep 10, 2005

MONEY MARKET

The SBP conducted three OMOs to give stability to the market and mopped up heavy amount of Rs. 26.50 billion from the system. This outflow was insignificant and rates moved upwards. However, this rise was temporary and rates finally remained at the lower side with overnight trading till the close of the week noted in the band of 6.00% to 6.50% respectively. In one and two weeks tenors, rates were mostly confined in the band of 7.00% to 7.50% and 7.25% to 8.00%. One-month tenor was active during the week and early activity was witnessed around 7.60%. Later rates hiked and trades were struck around 7.90%. No major activity was observed in three months tenors however; bids and offers were quoted in the range of 7.90% to 8.10%. This week six month was active and banks were seen interested to borrow funds for six months and activity was noted in the band of 8.10% to 8.25% respectively. This week activity was noted in T-bills and trades in around nine years to maturity paper was noted in the range of 7.80% to 7.70%, and activity in the latest three months T-bill took place in the band of 7.90% to 8.00%.

FUTURE OUTLOOK

T-bill auction is due in the coming week against the maturity of around Rs.26.50 billion and same trend is expected where short-term T-bill yields are likely to rise further. Rates in the market are expected to hike compared to last week and are likely 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

04.10

2 Year

08.90

08.90

04.80

3 Year

08.90

08.90

04.95

4 Year

08.95

08.95

06.00

5 Year

08.95

08.95

05.95

10 Year

09.05

09.05

08.00

 


 

AUCTIONS

BID DATE

INSTRUMENT

RESULT

SETTLEMENT

Aug 31 T-Bill 0 3 Mth Aug 31 Sep 01
Aug 31 T-Bill 06 Mth Aug 31 Sep 01
Aug 31 T-Bill 12 Mth Aug 31 Sep 01

TARGET AMOUNT

BID AMOUNT

ACCEPTED AMOUNT

Rs. 96,000 Mln 

Rs. 131,250 Mln 

Rs. 108,425 Mln

 


 

MATURITIES

INSTRUMENT

DATE

AMOUNT

T-Bill

01 Sep

96,095 mln.

T-Bill

15 Sep

02,525 mln.

FIB/PIB

17 Sep

01,177 mln.

FIB/PIB

24 Sep

02,907 mln.

T-Bill

29 Sep

58,775 mln.

 


 

REPO RATES

 

THIS WEEK

1 WEEK AGO

1 YEAR AGO

Overnight

08.95

07.25

00.50

1 Week

08.15

07.25

04.50

1 Month

08.00

07.65

03.10

3 Month

08.00

08.00

02.75

6 Month

08.25

08.15

02.95

1 Year

08.75

08.75

03.25

 


 

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

1 Month

08.10

07.75

03.00

2 Month

08.00

07.85

02.75

3 Month

08.00

07.95

02.65

4 Month

08.05

08.00

02.75

5 Month

08.05

08.00

02.80