Weekly Market Roundup

December 22, 2019 (MLN): The KSE-100 Index lost nearly 83 points during the week ended December 20, and settled at 40,832 points, i.e. down by 0.2% as compared to previous week’s closing of 40,916 points.

Oil & Gas Marketing Companies and Power Generation & Distribution Companies emerged as the top losers during the week, as they collectively snatched 124 points from the index followed by Cement Sector (-51 pts), Textile Composite (-49 pts) and Fertilizer Sector (-48 pts).

Company wise, the scrips of PSO (-48 pts), FFC and MCB (-34 pts), HUBC (-31 pts) and EPCL (-27 pts) endured the maximum losses.

Meanwhile, the KSE All Share Market Cap decreased by Rs. 56.7 billion or 0.72% over the week, being recorded at Rs. 7.84 trillion as compared to a Market Cap of Rs. 7.9 trillion recorded last week.

This week, the local investors bought securities worth Rs. 82.5 billion, amongst which, Individual investors emerged as the largest net buyers as they bought securities worth Rs. 47.4 billion. On the other hand, local investors sold securities worth Rs. 83 billion. This resulted in an overall net selling of Rs. 487 million over the week.

Forex Update:

PKR continued to trade at a six month high against the USD, gaining another 6.5 paisa during the week to close at 154.89 compared to 154.96.

PKR extended it streak to 11 consecutive weeks of gains, appreciating by Rs 1.63 during the process.

While the dollar remained relatively stable during the week, trading at a low of 154.90 (ask) and a high of 155.06, the forward premiums showed volatility during the week before closing slightly higher for 3 to 6 months while 1-year premiums decreased.

Fixed Income:

PIB and T-Bill Yields displayed a mixed trend following the MTB auction in which cut-offs remained relatively unchanged.

T-Bill yields for 3 and 12 months increased by 5 and 15 basis points while the 6-month yield decreased by a fraction.

PIB yields for 3 years went up by 8 basis points while the 5 and 10-year yields were relatively unchanged. 

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