elixirsecurities

a dawood group company

January 04, 2013

MARKET WRAP
PAKISTAN EQUITIES

PAKISTAN Market Wrap Small and Mids continue dominance

Market Data Current Close Previous Close +/- (Points) +/- (%) Volume (mn) Adv/Dec YTD H/L Source: KSE 16,648.84 16,588.54 60.30 0.36 99.58 184/131 16,943 / 10,909

Recovery at Karachi Stock Exchange continued as punters squared their short positions from recent fall ahead of the weekend. Trading activity remained thin with merely 50mn shares exchanging hands on low foreign and local institutional interest while 2nd and 3rd tier stocks continued to dominate the volume chart with Byco Petroleum BYCO PA +3.06% , Jahangir Siddique JSCL PA -2.66% and Maple Leaf Cement MLCF PA +.84% trading 13mn, 12mn and 7mn shares respectively. Cements traded lackluster while Oils and Banks traded positive to help KSE100 index close green.

KSE-100 Index 1-Year Performance

Vol mn (RHS)
18,000 16,000 14,000 12,000

We expect fertilizers to pick momentum on payout excitement as they will be the first to come out with annual announcements followed by Cements having record sales in the preceding year.
600 450 300 150

Index (LHS)

10,000
Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12

Source: Elixir Research

Yesterdays Settled Trades Symbol Traded Vol (mn) JSCL 18.85 BYCO 11.35 MLCF 7.40 ANL 4.06 NCL 3.93 Source: NCCPL (03-January-13) Yesterdays Foreign Flows Gross Buy Gross Sell Net Source: NCCPL (03-January-13) Settled Vol (mn) 10.49 4.08 3.10 1.40 2.54

Written By: Harris Ahmed Batla habatla@elixirsec.com Volume Leaders (Top 10 Scrips 52.11 Shares) Today's Previous +/High Rate Low Rate Close Close (PKR) (PKR) (PKR) (PKR) (PKR) 13.79 13.38 0.41 14.15 13.52 15.34 15.76 (0.42) 16.01 15.27 14.48 14.36 0.12 14.84 14.30 6.35 6.27 0.08 6.44 6.23 82.52 81.81 0.71 82.90 81.50 5.58 5.48 0.10 5.68 5.48 7.04 7.05 (0.01) 7.25 7.01 4.82 5.12 (0.30) 5.48 4.74 38.49 38.59 (0.10) 39.00 38.40 3.85 3.81 0.04 4.15 3.82

Scrip BYCO JSCL MLCF FCCL UBL KESC LOTPTA CML FFBL PIAA Source: KATS

USD (mn) 1.15 1.05 0.14

Volume (mn shares) 12.70 11.88 6.95 4.00 3.32 2.91 2.81 2.80 2.43 2.30

Sales Team Karachi: (92-21) 3569 4666 Lahore: (92-42) 571 7953 Islamabad: (92-51) 2272 341-5

Market Wrap represents views of Elixir Securities Equity Sales Desk and opinions stated here may not coincide with those of Elixir's Research Department

The report has been prepared by Elixir Securities Pakistan (Pvt.) Ltd. (Elixir Pakistan) The information and opinions contained herein has been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith. Such information has not been independently verified and no guaranty, representation or warranty, express or implied is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. This document is for information purposes only, descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell any securities or other financial instruments. Elixir Pakistan may, to the extent permissible by applicable law or regulation, use the above material, conclusions, research or analysis in which they are based before the material is disseminated to their customers. Not all customers will receive the material at the same time. Elixir Pakistan, their respective directors, officers, representatives, employees and/or related persons may have a long or short position in any of the securities or other financial instruments mentioned or issuers described herein at any time and may make a purchase and/or sale, or offer to make a purchase and/or sale of any such securities or other financial instruments from time to time in the open market or otherwise. Elixir Pakistan may make markets in securities or other financial instruments described in this publication, in securities of issuers described herein or in securities underlying or related to such securities. Elixir Pakistan may have recently underwritten the securities of an issuer mentioned herein. This document may not be reproduced, distributed or published for any purposes. Foreign currency denominated securities are subject to exchange rate fluctuations which could have an adverse effect on their value or price, or the income derived from them. In addition, investors in securities such as ADRs, the values of which are influenced by foreign currencies effectively assume currency risk. Note to U.K. readers: This report is not for distribution in the United Kingdom to private customers, and investments mentioned in this report will not be available to any such private customer. Copyright 2012, Elixir Securities Pakistan (Pvt.) Ltd.