KASB Pakistan Market Review

Market Review Update 031317

Dear Clients,

KSE 100 index nudged 196 points upwards to 46,160 with Rs 23b traded today. Today’s senate election should guide the market for tomorrow & short term if PTI & allies secure the expected seats & most importantly, Hafeez Shaikh wins the seat against Yousuf Raza Gillani.

Among the notable positive movements; INIL (7%), Pak Refinery (6%), Attock Refinery (4%) & Agha Steel (3%). Investors seemed to be convinced on construction led growth & expected refinery policy to boost profitability on new expansions. In contrast, UBL (-2%), HBL (-2%) & BIPL (7%) closed negatively. Bank Islamic announced results that did not meet market expectations despite strong valuations.

KASB Research

Leave a comment

Your email address will not be published. Required fields are marked *