Elixir Securities Limited – Pakistan Market Wrap

Karachi, August 16, 2018 (PPI-OT): Closing Bell – Another Negative Close!!!

Pakistan equities continued to slide on Thursday with benchmark KSE100 Index shedding nearly 700 points during the trading session to set an intra-day low of 41,750. However late recovery in select blue chips pushed the Index to 41,960 at close. Index rallied into positive zone for a brief period after a negative start but caved into selling pressures in Index heavy weights viz. Financials, Cements and Steels. Among the key result announcements, Engro Corporation ENGRO PA -4.43%, Bank Al-Habib BAHL PA -0.63% and Pak Elekron PAEL PA -4.84% posted quarterly consolidated EPS of PKR3.62 (+116%YoY), PKR1.93 (+2%YoY) and PKR1.34 (-41%YoY), respectively, which failed to garner investors’ interest.

With Index retreating to current levels, charts indicate consolidation around this area. With a number of key political appointments made in favour of PTI, investors would remain watchful of source of financial flows for bailout and associated set of austerity measures.

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Elixir Securities Limited – Pakistan Market Wrap

Karachi, August 16, 2018 (PPI-OT): Closing Bell – Another Negative Close!!!

Pakistan equities continued to slide on Thursday with benchmark KSE100 Index shedding nearly 700 points during the trading session to set an intra-day low of 41,750. However late recovery in select blue chips pushed the Index to 41,960 at close. Index rallied into positive zone for a brief period after a negative start but caved into selling pressures in Index heavy weights viz. Financials, Cements and Steels. Among the key result announcements, Engro Corporation ENGRO PA -4.43%, Bank Al-Habib BAHL PA -0.63% and Pak Elekron PAEL PA -4.84% posted quarterly consolidated EPS of PKR3.62 (+116%YoY), PKR1.93 (+2%YoY) and PKR1.34 (-41%YoY), respectively, which failed to garner investors’ interest.

With Index retreating to current levels, charts indicate consolidation around this area. With a number of key political appointments made in favour of PTI, investors would remain watchful of source of financial flows for bailout and associated set of austerity measures.

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Elixir Securities Limited – Pakistan Market Wrap

Karachi, August 16, 2018 (PPI-OT): Closing Bell – Another Negative Close!!!

Pakistan equities continued to slide on Thursday with benchmark KSE100 Index shedding nearly 700 points during the trading session to set an intra-day low of 41,750. However late recovery in select blue chips pushed the Index to 41,960 at close. Index rallied into positive zone for a brief period after a negative start but caved into selling pressures in Index heavy weights viz. Financials, Cements and Steels. Among the key result announcements, Engro Corporation ENGRO PA -4.43%, Bank Al-Habib BAHL PA -0.63% and Pak Elekron PAEL PA -4.84% posted quarterly consolidated EPS of PKR3.62 (+116%YoY), PKR1.93 (+2%YoY) and PKR1.34 (-41%YoY), respectively, which failed to garner investors’ interest.

With Index retreating to current levels, charts indicate consolidation around this area. With a number of key political appointments made in favour of PTI, investors would remain watchful of source of financial flows for bailout and associated set of austerity measures.

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