Elixir Securities - Pakistan Equity Market: Weekly Review - PSX Corridors Cheer Amnesty Scheme

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Elixir Securities

Elixir Research

EUR 4.31 For Business Accounts Only

Pakistan Equity Market: Weekly Review - PSX Corridors Cheer Amnesty Scheme

After a nosedive last week, KSE100 Index took a breather and rose by 274pts (up 0.7%WoW) as investors expected ongoing Amnesty Scheme to beef up domestic liquidity. This also concluded the fiscal year FY17-18 with the benchmark index declining 10% for the year, with E&P and Fertilizer sectors standing out as top contributors (returning 33% and 11%, respectively) while Cements and Refinery sectors were worst performers (returning -42% and -39%, respectively).
Trading activity rose during the week with average daily traded volumes going up by 7%WoW to 182mn shares while the average traded value declined by 1%WoW to USD60mn.
In global markets, crude oil rallied by USD5.6WoW (up 8%WoW) to USD78.7 (Brent) post 1) positive developments emanating from OPEC meeting and 2) US President Donald Trump’s announcement to impose sanctions on countries importing Iranian oil. As per US State Department announcement, the Trump Administration could impose sanctions against governments that do not cut imports of Iranian oil to “zero” by Nov 4, 2018. The move came in as a surprise as countries were expecting waivers and a longer grace period before sanctions came into effect.

29/06/2018 11 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 - PSX Corridors Cheer Amnesty Scheme

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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