Dear Clients,

KSE 100  traded $140m & closed 603 points upwards today at 45,965 as investors grabbed positions in expectations of a favorable comment in FATF meeting tonight. The market had been choppy over last few days despite promising corporate results. Investors are also shy of the outcome of Senate elections scheduled for 3rd March as opposition party has hinted of a “surprise” in numbers. Reduced number of PTI legislator could make it difficult for PTI to enact reforms required by multilateral lenders.

Noticeable interest was noted in TRG(+6.5%), Netsol (3%), Lucky (3%), NRL (5%) & UBL (4%).  Expectations are abound with Lucky Cement’s KIA launching new cars & Refinery policy to be announced with more incentives. We expect a positive tone from FATF statement for an on-site visit and/or positive reviews.

Highest activity was recorded in TELE (+14.5%) with 36.2mn shares traded, BYCO (+3.5%) with 34.6mn shares and UNITY (+2.84%) with 33.2mn shares traded. Correction was visible in NML (-1.5%) and GHGL (-1.7%), while TRG (+6.5%) and UBL (+4.1%) closed in the positive territory among the KSE-100 constituents.

KASB Research