Elixir Securities - Pakistan Equity Market: Weekly Review - Fizzled Relief Rally

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Elixir Securities

Elixir Research

Pakistan Equity Market: Weekly Review - Fizzled Relief Rally

After a steep correction last week, KSE100 recovered 1.1%WoW (450pts) to close at 42,074pts; however the relief rally in earlier part of the week fizzled on profit taking, continued economic concerns and unabated foreign selling. Trading activity remained muted with average daily traded volumes inching up by a mere 4%WoW to 119mn shares.
In terms of sector performance, Banks and Fertilizer returned 1.8% and 2.6% during the week. Rally in Banks was due to expectation of interest rate hike, attractive prices and opening of valuations that happened after constant foreign selling.
Amongst other sectors related news flow, DG Khan Cement (DGKC) and Bestway Cement (BWCL) announced trial production of their new cement plants in Hub Baluchistan and Farooqia Punjab, respectively, during the week. While DGKC expansion was expected, BWCL early entry was a surprise.

25/05/2018 10 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

Elixir Research

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Pakistan Equity Market: Weekly Review - Fizzled Relief Rally

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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