Weekly Market Roundup

October 20, 2019 (MLN): The KSE-100 index lost around 605 points over the week and concluded at 33,870-mark, i.e. down by 1.76%, as compared to previous week’s closing of 34,475 points.

The performance of benchmark index remained dreary for the larger part of the week, owing to the anticipations and anxiety hovering around FATF’s verdict on Pakistan.

Commercial Banks, Cement Sector and E&P companies emerged as the top losers during the week, as they collectively took away 446 points from the index. Company wise, the scrips of HBL, UBL, LUCK, HUBC and POL endured the maximum losses.

Meanwhile, the KSE All Share Market Cap fell by Rs. 131.9 billion or 1.95% over the week, being recorded at Rs. 6.63 trillion compared to a Market Cap of Rs. 6.77 trillion recorded last week.

This week, the local investors bought securities worth of Rs. 32.5 billion, amongst which, Individual investors emerged as the largest net buyers as they bought securities worth Rs. 21.8 billion. On the other hand, local investors sold securities worth 32.2 billion. This resulted in an overall net buying of Rs. 333.7 million over the week.

Forex summary:

Pak Rupee continued to appreciate against the USD Dollar, as it gained another 16 paisa during the week.

The local currency touched its 4-month high of 155.88 before closing at 155.90, which is the strongest it has been since June 14, 2019. The dollar was quoted at a high (bid) of 156.11 and a low (ask) of 155.90 during the week.

The rupee has gained around Rs. 8.15 against the dollar since hitting an all-time low of 164.05 on June 27, 2019 and gained Rs. 4.14 in FY20.

Fixed Income summary:

PIB and T-Bill yields continued to decline, although the reduction was less pronounced than previous weeks.

Short term yields declined by 5 basis points for 3 months and 11 basis points for 6- and 12-month T-bills, while PIB yields declined by 9, 14 and 7 basis points for 3, 5 and 10 years.

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