Stock Market Data:Trading data for the last month
Market Overview: Commentary on market performance over the last month. This section also provides an outlook for the next month based on fundamental developments as well as technical indicators.
Market Cap: Change in market capitalization over the last month
Stock Market Data: Trading data for the last month
Shares traded: (Cumulative) shares traded over each month
KSE-100: Change in index level over the last month
FIBOR and Kerb rates: Change in Rupee/US$ exchange rate in the inter-bank and kerb markets over the last month.
Value traded: (Cumulative) value of shares traded over each month (calculated on closing price of each day)

Chart: KSE-100 index performance chart for the last month
Pakistan Economy after Sept 11: Review of major economic issues highlighted over the last month and analysis of economic performance and indicators.
Value Call

Monthly Review and Outlook
29 November , 2001




Events of September 11th have significantly changed the global economic outlook, at least for the short term, with countries around the world scrambling to revise economic growth projections. We attempt a post September 11th economic perspective of Pakistan in this month's review.
We think these events will certainly be consequential to Pakistan?s economy in terms of lower than targeted GDP growth, fiscal and trade revenues. However, on the positive side, some element of relief in external debt can be expected to come through from the Paris Club.



Recent Developments: Review of major developments in key stock and sectors over the past month accompanied by fundamental analysis and outlook.

The KSE-100 Index moved within a band of 1335-1400 during November. After gains of almost 300 points in October, November can mainly be characterized as a period of consolidation. Good corporate announcements in the outgoing month helped keep market sentiments firm. Looking forward, expectations of IMF funding and debt relief will drive market sentiments. We expect the market to generally remain in the positive region for December. There may be subdued activity on account of Ramazan and spot trading of both Hubco and PTCL.



We highlight our outlook on key Stocks following recent cororate results and general economic developments. We Think PTCL and Sui Southern are attractively price at these levels both companies announced good earnings and dividends for FY01. Sui North on the other hand is a NEUTRAL as we are skeptical of future payouts due tothe companies aggressive capex plan. We downgrade PSO and Shell to REDUCE and NEUTRAL respectively, in view of declining oil proces and weak sales volume this year.


Stock Market Data: Trading Data for the last month
Value traded: (Cumulative) value of shares traded over each month (calculated on closing price of each day)
 
21-Oct
29-Nov
%Chg
KSE-100

Shares Traded

Value Traded



Market Cap.

m

Rsm

US$m

Rsb

US$b		 1496.1

3,514

84,221

1383

345

5.6		 1358.2

1,816

44,234

723

329

5.4
 -3.4

-48.3

-47.5

-47.7

-4.7
-0.3
Yield Curve: The yield curve plots average repo rates up to 360 days, and latest PIB auction rates for 3,5 and 10 year periods


The above information and advice is given in good faith, without any legal responsibility. Taurus Securities Limited or individuals connected with it may have used research material before publication and may have positions in or may be materially interested in the securities mentioned herein.