Elixir Securities Limited – Market Wrap

Karachi, February 26, 2016 (PPI-OT): Market rallies to close +492 pts

Pakistan equities surged to close the week positive on improved turnover led by gains in Oils, Cements and select Financials. Wider market opened positive tracking regional markets, and Oil stocks took an early lead following higher international crude. Lagging Cements also came in highlight as Prime Minister visited Karachi to inaugurate rapid transit project. Gains were gradually added in first session as benchmark index settled over 31k before break.

However, at the outset of second session, market’s momentum gathered pace and KSE100 index soared by nearly 250 points to finish at 31,294. Index heavy Habib Bank HBL PA +1%, Lucky Cement LUCK PA +3.5%, Engro Corp ENGRO PA +2.9% and Oil and Gas Dev Co OGDC PA +1.6% attracted institutional flows and contributed most points to the gains, while small and mid caps also rose after witnessing increased participation from savvy investors. See ongoing momentum to push KSE100 index to test 31,800 in days ahead with OGDC, LUCK, DGKC, ENGRO and UBL as Elixir Securities Limited’s top buys.