Elixir Securities Limited – Pakistan Market Wrap

Karachi, November 08, 2018 (PPI-OT): Closing Bell – Investors Awaits Details on Economic Package from China

Pakistan equities closed negative today with benchmark KSE100 Index settling at 41,367 level. Profit taking was witnessed in today’s session as investors preferred to remain on side-lines in Index names as Pakistan’s delegation leaves for China later today to finalize modalities of Chinese Economic support program while Ministry of Finance officials are currently engaged with IMF officials in Islamabad.

Matco Foods Limited MFL PA +3.3% garnered investors interest after Adviser to Prime Minister on Commerce, Industry and Investment claimed that China has agreed to double its imports from Pakistan – key industries of interest would include agriculture in addition to the traditional export oriented sectors of the country. Going forward, we expect the sentiment to shape up once clarity emerges on outcome of SBP Governor and Secretary Finance visit over Chinese financial package.