Market Wrap KSE100 bounces back over 30k KSE100 Index 30,159|High 30,192|Low 29,955|Change -180|Value USD66mn|Vol 108mn Pakistan equities played against regional sentiments to end up ~1% at 30,150 levels after morning news about increase in FX reserves further supported by news of Coalition Support Fund and World Bank agreed to provide loan for rehabilitation of IDPs affected by military operation in the tribal areas. Refinery sector ended on their respective locks after GRMs are recorded at their recent time highs thanks to declining international oil price. Oil & Gas regulatory authority OGDC PA -0.61% failed to close at its highs after Supreme Court issued decision in favour to continue the OGDC transaction but has reserved its decision about share transfer till next hearing on 13 October 2014. Politics and LoC tension are for now ignored, but can likely be in the limelight. The flush of local and foreign liquidity along with declining local inflation thanks to declining international oil prices and supportive FX reserves will likely channel funds from major institutionally clients. Like Banks - UBL, HBL, HMB, ABL and NBP. IPPs Hubc and Kapco and Cements. Sibtain Mustafa smustafa@elixirsec
Posted on: Sat, 11 Oct 2014 10:20:52 +0000
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