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Thursday, December 31, 2009
Wednesday, December 30, 2009
Tuesday, December 29, 2009
Thursday, December 24, 2009
Wednesday, December 23, 2009
Tuesday, December 22, 2009
Sunday, December 20, 2009
Market Close !
Although decision to declare NRO null is viewed as positive since it propagates transparency in the judicial system and improves confidence, it could very possibly lead to some political tensions and tussle between opposition and the ruling party. We reiterate our positive outlook on the market ahead of the year end but do expect political developments to remain in focus in absence of major economic triggers and corporate news. Like MCB, ENGRO & PSO
Friday, December 18, 2009
Thursday, December 17, 2009
Wednesday, December 16, 2009
Market Close !
Pakistan equities rose on improved political climate after key politicians reached a consensus over revenue sharing deal amongst provinces. More importantly, reduced trade deficit number down by 37% during first five months of the current fiscal year and successes on military operation were cheered by the market pushing stocks up. Renewed interest and higher volumes today were on the back of locals taking long positions mainly in financials with MCB, NBP, FABL, BOP and UBL closing at upper checks after better news from Dubai debt crisis as Abu Dhabi announced bail out plan. Other gainers included PSO, AICL, NML, DGKC and ENGRO.
We expect market to closely monitor developments on NRO cases hearing by Supreme Court with verdict due in the coming days. Expect stocks to take positive the end of long withstanding uncertainty with market likely to test 9,800 before the end of the calendar year.
Friday, December 11, 2009
Wednesday, December 9, 2009
Tuesday, December 8, 2009
Monday, December 7, 2009
Friday, December 4, 2009
Thursday, December 3, 2009
Market close
We remain optimistic on the market and expect better volumes in the coming days betting on better political climate and improved security situation.
Wednesday, December 2, 2009
Market Close !
We expect today's fear of Dubai debt rescheduling led wider crisis on Pakistan stocks to subside over time. Possible positives on the political front such as the President relinquishing his powers to the parliament bodes well for sustained democracy. In our view the major concern remains the fluid security situation and lack of liquidity finding its way to the market.
Tuesday, December 1, 2009
Thursday, November 26, 2009
Tuesday, November 24, 2009
Monday, November 23, 2009
Market Close !
We expect activity to pick up tomorrow as rumors and hints of MPS keep interest alive. In our view, a rate cut of anything above 50bps will be cheered with market to test highs. FII interest in index heavy blue-chip, mainly oil stocks is also key to short-term market direction. With financials underperforming, any rate cut excitement is likely to give the greatest boost to lagging banks and holding stocks.