Elixir Securities - Pakistan Equity Market: Weekly Review - Recovery Led by Mid-Tier Banks

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Elixir Securities

Elixir Research

Pakistan Equity Market: Weekly Review - Recovery Led by Mid-Tier Banks

Pakistan Equities recovered another 2.0% during the week as the benchmark KSE100 index closed the week at 42,913. The modest recovery could not salvage the returns for the month of May, which clocked in at a dismal -5.8% on persistent foreign selling and concerns on Balance of Payments. Trading activity remained dull, due to seasonal slowdown in the month of Ramadan; however it slightly improved WoW as traded value averaged USD48mn during the week.
The biggest contribution to the index move for the week came from the heavyweight Commercial Banks. The sector gained 2.1% during the week and added 163 points to the KSE100 index. Domestic investors accumulated banking stocks post last weekend’s interest rate hike of 50bps – the real thrust was observed in Mid-Tier Banking stocks while Large Caps continued to witness foreign selling.

01/06/2018 11 EN

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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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Elixir Research

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Pakistan Equity Market: Weekly Review - Recovery Led by Mid-Tier Banks

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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