Elixir Securities Limited – Pakistan Market Wrap

Karachi, November 15, 2018 (PPI-OT): Closing Bell – The Return of Value Hunters

Benchmark KSE100 Index closed green on Thursday settling at 41,429 level. Market traded positive for most part of the day as renewed buying interest in United Bank Limited UBL PA +5.0% and Habib Bank Limited HBL PA +4.9% kept the buying momentum going for the day. Investors cheered the decline in international coal prices to USD90.70/ton as active buying was witnessed in Cherat Cement Company Limited CHCC +5.0%, Pioneer Cement Limited +5.0% while Lucky Cement Limited LUCK PA +3.0% also managed to shine amongst top performers.

On corporate front, Ghandhara Nissan Limited GHNL PA +5.0% notified the Exchange of launch of CKD Models of Renault trucks in Pakistan to capture the rising transportation demand on the back of CPEC transportation. Going forward, we expect market to face resistance around 42,300 levels.

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