September 29, 2019 (MLN): The KSE-100 index lost merely 40 points over the week and concluded at 32,070-mark, i.e. down by 0.13%, as compared to previous week’s closing of 32,111 points.

Trading at stock market throughout the week remained dismal, owing to lack of positive triggers. However, the market gained momentum in the last session of the week as portfolio managers who, considering it is the end of quarter, purposefully invested funds in chosen stocks in a quest to window dress them.

 Oil and Gas Exploration Companies and Insurance Sector emerged as the top performers during the week, as the collectively contributed 91 points to the index. On the other hand, Commercial Banks remained the top loser as it snatched around 112 points from the index.

Meanwhile, the KSE All Share Market Cap rose by Rs.12.3 billion or 0.19% over the week, being recorded at Rs.6.40 trillion compared to a Market Cap of Rs.6.39 trillion recorded last week.

This week, the local investors sold securities worth of Rs.39.6 billion, amongst which, Individual investors emerged as the largest net sellers as they sold securities worth Rs.23.8 billion. On the flip side, local investors bought securities worth 23.6 billion. This resulted in an overall net buying of Rs.1.3 billion over the week.

Forex summary

Pakistan Rupee’s (PKR) run of 5 successive weekly gains against the Dollar ended as it lost 10 paisa during the week to close at 156.17 compared to 156.07 from last week.

During the week the dollar was quoted at a high (Bid) of 156.30 and a low (ask) of 156.12 in the interbank.

The Rupee has relatively stable against the dollar during the month of September showing an annualized volatility of just 1.26 percent compared to 4.09 percent during FY20 and 8.29 percent year to date.

Fixed Income Roundup

Cut off Yields in the Market Treasury Bill (MTB) auction conducted on September 25, 2019 declined by 1, 9 and 8 basis points for 3, 6 and 12 month T-Bills. However, the yield for T-Bills in the secondary market inched up by a fraction compared to last week, by 2, 4 and 10 basis points.

The Yields for 5 and 10 year PIB’s also increased by a 16 and basis points while the 3 Year PIB yields remained unchanged.

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