Elixir Securities Limited – Pakistan Market Wrap

Karachi, December 18, 2017 (PPI-OT): Closing Bell – Market Activity Set a 29-Month Low

Pakistan Equities closed Monday negative in lackluster trading with turnover on KSE All shs index (USD24mn) setting a 29-month low. Lack of near-term triggers and remaining noise on political front resulted in most investors continuing to stay on the sidelines. Lucky Cement LUCK PA -2% despite announcing completion of its brownfield expansion for 1.3MPTA line dented KSE100 index the most on reported selling from foreigners. Among other bluechips, Pakistan Petroleum PPL PA -1.2%, Engro Corp ENGRO PA -1.3%, Habib Bank HBL PA -0.7% also dragged down index amid thin turnover. Expect participants to closely track news flow on political front to gauge market direction.

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