KSE100 yielded 5.5%MoM in Jan-13 Written as on February 03, - TopicsExpress



          

KSE100 yielded 5.5%MoM in Jan-13 Written as on February 03, 2014 Unchanged DR to support KSE100 in Jan-14 During Jan-14, the KSE index remained volatile as it marked the all time high level of 27,213pts but after some profit taking, KSE100 dragged down to 26,596pts. Moreover, downward pressure in regional markets also hampered the index due to fear of outflow of foreign investment. On closing basis, KSE100 extended its ride further with a monthly increase of 5.5% during Jan-14. The market closed at the level of 26,659pts on 31st January 2014 after crossing the psychological barrier of 27,000pts during the month. The primary reasons for such improved performance were unchanged discount rate on the back of low inflation coupled with expectations of better results of the blue-chip companies. Moreover, continuous supply of gas to fertilizer and textile sector also support the scrips to further gain during Jan-14. On the political side, dialogue with India and Taliban also encouraged positive sentiments in the market. Pakistans equity market outperforms the MSCI FMI In the regional context, Pak equities performed well as compared to its peers in the Asia pacific region during the month. Pak equities posted a return of 1.3%MoM (based on MSCI Index) as against the Frontier Market Index return of 0.9%MoM and world benchmark indices of -3.8%MoM. Pakistan equities received foreign funds of USD31.8mn as against inflows in the Asia Pacific region of USD374bn during Jan-14. Pakistan equities stood with the smallest share of inflow as compared to other regional equities during this period. Outlook: KSE100 Index rally to continue on better results The sentiments of the stock market are likely to remain positive due to expectation of status quo in discount rate on the back of low inflation coupled with better expected results of listed companies. Moreover, conclusive progress in dialogue with India and Taliban is expected to expand the confidence of investors. We are still positive on Oil &Gas (E&P), Fertilizer, OMCs, Textile, Cement and Banks due to their strong fundamentals Abdul Azeem azeem@investcapital
Posted on: Mon, 03 Feb 2014 11:13:14 +0000

Trending Topics



Recently Viewed Topics




© 2015