Pakistan Equity Market: Weekly Review - Worst Performance in 44 Weeks
- KSE Index nosedived 4.7%WoW (2,043pts) on persistent foreign selling and downward revision by Moody’s (outlook on Pakistan revised to negative from stable on vulnerable economic position).
- Trading activity rose during the week with average daily traded volumes/value going up by 29%WoW/13%WoW to 170mn shares/USD61mn.
- Commercial Banks, Oil & Gas Exploration Companies, Cements and Automobiles were the major index movers, resulting in declines of 668, 358, 218 and 102 points, respectively in the KSE100.
- Commercial Banks fell 4.6%WoW owing to correction in Habib Bank (HBL) / United Bank (UBL) of 9.6%/6.0%WoW on concerns 1) regarding lower payout on additional capital requirement of CET-I (2% for HBL and 1.5% for UBL) and 2) persistent foreign selling.
- Oil & Gas Exploration Companies fell 5.5%WoW owing to falling international oil prices on expectation of production increase by OPEC in its ongoing meeting with sources revealing 1mnbpd planned increase (but not immediate) to address supply deficit.
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 (1st Rank), CFA Society of Pakistan Awards for Year 2014 “Best Research Analyst (1st 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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