Elixir Securities - Elixir Grid - KSE100: Oversold Momentum likely to Play Out

Report

Elixir Securities

Mohammad Zain-ul-Abedin

EUR 4.60 For Business Accounts Only

Elixir Grid - KSE100: Oversold Momentum likely to Play Out

The benchmark KSE 100 Index seems to have found short-term support at 36,900/800 levels while indicators show obvious oversold signs on weekly time interval. There was indeed a sharp recovery albeit on low volumes at the start of the outgoing week however bulls gave way ahead of the range resistance at 38,450 level which also lines up with a daily 21 EMA, adding more to its strength as potential resistance. A quick pullback that left daily candle with long upper wick on Wednesday not only marked strong upside rejection but also weakened the short-term structure dragging the Index down to 37,547 on close...

07/01/2019 2 EN

Provider

Elixir Securities

Elixir Securities Pakistan is a Corporate Member of the Pakistan Stock Exchange & Pakistan Mercantile Exchange and is one of the leading securities brokerage & investment banking firms in Pakistan, established since 1994. Our principal business activities include all aspects of Pakistan’s Capital Markets covering Securities Brokerage (Equities, Fixed Income and Commodities), Corporate Finance & Capital Markets Advisory (M&A, ECM, DCM) and Investment Research (Economics & Securities). We are one of the most active & aggressive Broker-Dealers in Pakistan executing trades for most of the Top 20 Global Brokers with unmatched corporate access credentials and have successfully advised and closed on some landmark ECM transactions in the history of Pakistan including the largest deal in frontier Asia (USD 1.02 billion). Our Clients include foreign and domestic financial institutions (Banks, Asset Managers, Insurance Companies, Pension Funds) corporates, HNWI’s and retail investors. This is supported by a very strong and independent research capability, which is quoted regularly in both local and international media.

Elixir Securities Pakistan is the proud recipient of many awards & recognitions including AsiaMoney’s Brokers Poll 2017, FinanceAsia’s Pakistan Best Investment Bank and Best Broker 2017, The Asset’s Best Brokerage House in Pakistan 2016, Asiamoney’s “Best Domestic Equity House 2015 in Pakistan”, The Asset Triple A Country Awards 2015 - Pakistan “Deal of the Year” and “Deal of the Year-Highly Commended”, CFA Society of Pakistan Awards for Year 2015 “Best Research Analyst (1^st Rank), CFA Society of Pakistan Awards for Year 2014 “Best Research Analyst (1^st Rank)”, “Best Trader” 2nd Runner-up (3rd Rank), The Asset Triple A Country Awards 2014’s “Best Deal in Pakistan” and Capital Finance International’s nomination for “Best Equity Research in Pakistan 2010”.

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Analysts

Mohammad Zain-ul-Abedin

Other Reports from Elixir Securities

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Open End Mutual Funds Industry - Ad Oculos

Assets under Management (AUMs) for the Open End Mutual Fund Industry Increased by 4.6% MoM to PKR569bn as at Jan-19, driven by growth in Equity Funds due to equity market performance AUM’s for Conventional / Shariah Compliant Equity Funds stood at PKR137bn / PKR70bn, up 8.1%/10.5% MoM. Liquidity position (including investment in T-Bills) for both the categories combined declined from PKR15.2bn (8% of AUM’s) to PKR14.0bn (7% of AUM’s) Looking at the stock wise exposure, Conventional Equity Funds were most concentrated in Bank Alfalah (BAFL), United Bank (UBL) and Habib Bank Limited (HBL) ...

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Elixir Research

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Pakistan Equity Market: Weekly Review - Index Closes Above 41k Mark on Foreign Buying

KSE100 Index continued to rally into 5th straight week led by foreign buying interest, particularly in Banking stocks. The Index gained 848pts (2.1%) during the week, taking 2019TD return to 10.9%. Market activity also remained elevated during the week with average daily traded volumes inching up by 3.8%WoW to 175mn shares. The index was mainly driven by Banks, Oil Marketing Companies (OMCs), Automobile Assemblers and Oil Exploration & Production Companies (E&Ps) contributing respective gains of 234pts (28%), 129pts (15%), 83pts (10%) and 74pts (9%) in the Benchmark Index. Banks remained i...

EUR 4.60

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Mohammad Zain-ul-Abedin

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Elixir Grid - KSE100: Make or Break?

Bourse extended its rise for the fifth consecutive week with benchmark KSE100 Index closing on a buoyant note amid expanding turnover at 41,113 level. Overcoming multiple barriers i.e. daily 144 EMA (40,314) followed by a descending resistance at 40,700 level in the outgoing week further strengthened the near-term structure and pushed the Index higher to set an intra-day high of 41,211 on last Friday; however it settled marginally below its daily 233 EMA at 41,127 mark....

EUR 4.60

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Elixir Grid - KSE100: Oversold Momentum likely to Play Out

Open End Mutual Funds Industry - Ad Oculos

Pakistan Equity Market: Weekly Review - Index Closes Above 41k Mark on Foreign Buying

Elixir Grid - KSE100: Make or Break?

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