Elixir Securities Limited – Pakistan Market Wrap

Karachi, October 29, 2018 (PPI-OT): Closing Bell – Befriend the Trend!

Benchmark KSE100 Index continued its upward rally to close at 41,454 level, +2.21%. Today’s total market participation of 460mn shares was highest since May 24, 2017 while traded value of USD117mn was highest since January 24, 2018. Lucky Cement Limited LUCK PA +5% announced Consolidated 1QFY19 EPS of PKR9.14, higher than our estimate due to lower than expected taxation (while gross profit was inline with estimates).

Meanwhile Nishat Chunian Limited NCL PA +5% announced its 1QFY19 EPS at PKR5.68, up 3.4x YoY – further underscoring our liking for the stock. Going forward, news flow from upcoming trip of PM to China to derive the sentiments while immediate support level currently stands 40,550-40,800 level.

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Elixir Securities Limited – Pakistan Market Wrap

Karachi, October 29, 2018 (PPI-OT): Closing Bell – Befriend the Trend!

Benchmark KSE100 Index continued its upward rally to close at 41,454 level, +2.21%. Today’s total market participation of 460mn shares was highest since May 24, 2017 while traded value of USD117mn was highest since January 24, 2018. Lucky Cement Limited LUCK PA +5% announced Consolidated 1QFY19 EPS of PKR9.14, higher than our estimate due to lower than expected taxation (while gross profit was inline with estimates).

Meanwhile Nishat Chunian Limited NCL PA +5% announced its 1QFY19 EPS at PKR5.68, up 3.4x YoY – further underscoring our liking for the stock. Going forward, news flow from upcoming trip of PM to China to derive the sentiments while immediate support level currently stands 40,550-40,800 level.

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Elixir Securities Limited – Pakistan Market Wrap

Karachi, October 29, 2018 (PPI-OT): Closing Bell – Befriend the Trend!

Benchmark KSE100 Index continued its upward rally to close at 41,454 level, +2.21%. Today’s total market participation of 460mn shares was highest since May 24, 2017 while traded value of USD117mn was highest since January 24, 2018. Lucky Cement Limited LUCK PA +5% announced Consolidated 1QFY19 EPS of PKR9.14, higher than our estimate due to lower than expected taxation (while gross profit was inline with estimates).

Meanwhile Nishat Chunian Limited NCL PA +5% announced its 1QFY19 EPS at PKR5.68, up 3.4x YoY – further underscoring our liking for the stock. Going forward, news flow from upcoming trip of PM to China to derive the sentiments while immediate support level currently stands 40,550-40,800 level.

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Elixir Securities Limited – Pakistan Market Wrap

Karachi, October 29, 2018 (PPI-OT): Closing Bell – Befriend the Trend!

Benchmark KSE100 Index continued its upward rally to close at 41,454 level, +2.21%. Today’s total market participation of 460mn shares was highest since May 24, 2017 while traded value of USD117mn was highest since January 24, 2018. Lucky Cement Limited LUCK PA +5% announced Consolidated 1QFY19 EPS of PKR9.14, higher than our estimate due to lower than expected taxation (while gross profit was inline with estimates).

Meanwhile Nishat Chunian Limited NCL PA +5% announced its 1QFY19 EPS at PKR5.68, up 3.4x YoY – further underscoring our liking for the stock. Going forward, news flow from upcoming trip of PM to China to derive the sentiments while immediate support level currently stands 40,550-40,800 level.

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