Third Best Market in 2014 KSE100 Index 32,131|High 32,192|Low 31,953|Change +177|Value USD113mn|Vol 145mn Pakistan equities closed the year on a positive note with gains in Cements and Oil stocks pushing benchmark to settle above 32,100. This make KSE100 third best market in the world with 33.7% USD based return in 2014 after over 37% gain last year. Activity during the day was selective with Pioneer Cement PIOC PA +3.3% leading volumes on local interest while Engro Corp ENGRO PA +0.8% attracted attention and closed positive after listed subsidiary Engro Fertilizers EFERT PA +5% hit upper price limit on earnings excitement. Most illiquids had unusual moves primarily on end of the year window dressing while broader market tracked flows in absence of immediate triggers that were exciting enough to push investors to realign holdings on last day of the year. Expect turnover to gradually pick up with macros and earnings keeping investors excited while politics is likely to gain attention in days ahead with investors following developments on govt and PTI talks. Happy New Year to all :) #ELIXR
Posted on: Wed, 31 Dec 2014 11:36:56 +0000
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