Weekly Market Roundup

October 13, 2019 (MLN): The KSE-100 index gained around 1,442 points over the week and concluded at 34,475-mark, i.e. up by 4.37%, as compared to previous week’s closing of 33,033 points.

Commercial Banks, Oil and Gas Exploration Companies and Fertilizer sector emerged as the top performers during the week, as they collectively contributed 873 points to the index. Company wise, the scrips of HBL, MARI, UBL, POL and HUBC earned the maximum gains.

Meanwhile, the KSE All Share Market Cap rose by Rs. 217.1 billion or 3.31% over the week, being recorded at Rs. 6.77 trillion compared to a Market Cap of Rs.6.55 trillion recorded last week.

This week, the local investors bought securities worth of Rs. 64.4 billion, amongst which, Individual investors emerged as the largest net buyers as they bought securities worth Rs. 39.2 billion. On the flip side, local investors sold securities worth 63.7 billion. This resulted in an overall net buying of Rs. 650.6 million over the week.

Forex roundup

Pak Rupee closed the week at its strongest value of FY20, breaking the earlier level set on September 20, 2019.

PKR has recovered Rs.3.98 against the dollar since the end of FY19 and Rs.7.99 since its lowest value set on June 27, 2019, which marks a gain of 4.87 percent. This appreciation in the value of the currency has reduced the value of external debt by Rs.849.50 Billion.

During the week the dollar was quoted at an intraday high (bid) of 156.55 and a low (ask) of 156.05.

Fixed Income roundup

The decline in the secondary market yields of T-Bills and PIBs gained momentum after the most recent MTB auction in which Cut off Yield came down by 28 basis points for 6 month and 38 basis points for 1 year T-Bills.

Compared to the previous week Yields for 3M, 6M and 1Y T-bills declined by 41, 38 and 63 basis points while yields for the longer term 3Y, 5Y and 10Y PIBs declined by 79, 49 and 69 basis points.

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