The report was prepared by Elixir Securities Pakistan (Pvt.) Ltd. It summarizes information from various sources about companies and securities mentioned in the document. Elixir Securities may use the analysis before disseminating it to customers and they, along with their directors and employees, can have long or short positions in securities described in the report. The market continued to resist the 5600 level with PSO seeing profit taking and Askari Bank continuing its upward trend. The index may see further downward correction before attempting a new high.

1. ELIXIR SECURITIES PAKISTAN
The report has been prepared by Elixir Securities Pakistan (Pvt.) Ltd. 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 Securities 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 Securities 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 Securities 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 Securities 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 2004, Elixir Securities Pakistan (Pvt.) Ltd.
5600 continues to be resisted...
The market continued to resist the 5600 level yet again. PSO saw profit taking on the back of news
that petrol prices are to remain stable as so many people were expecting. Askari Bank continued its
upward march as it closed at PKR92.85. The stock has substantially outperformed NBP, which is
overdue for an upward move. The stock has strongly resisted PKR73 levels for a while now, and any
move beyond that price may cause upward momentum to build.
The index may see further downward correction from current levels before attempting to make a new
high. Stocks to buy on weakness are PTC, Fauji Fertilizer, and Pakistan Oilfields. For trading purposes,
we also like Pakistan State Oil. Another good punt on the oil and gas sector is PICIC Growth Fund
(PGF).
Movers & Shakers
Scrips
Today's
close (PKR)
Previous
close (PKR) +/- (PKR) High (PKR) Low (PKR) Avg (PKR)
Index
contribution
(points)
Volumes
(mn
shares)
Positives (Top 5 contribute 7.70 points)
PIA 12.75 12.20 0.55 13.00 12.05 12.73 3.93 10.56
Security Paper 169.00 160.00 9.00 169.00 163.95 164.88 1.13 0.00
Askari Bank 92.90 91.40 1.50 93.05 91.50 92.6 1.00 22.50
Hub Power 30.75 30.60 0.15 30.95 30.45 30.81 0.99 10.18
KESC 7.90 7.80 0.10 7.95 7.70 7.85 0.65 0.91
Negatives (Top 5 contribute 11.44 points)
PSO 267.20 268.60 (1.40) 268.50 266.55 267.37 (1.32) 5.33
Shell Pak 460.00 467.00 (7.00) 462.05 456.15 459.79 (1.60) 0.03
Dawood Her. 177.05 182.00 (4.95) 179.00 177.05 177.90 (1.64) 0.00
Pak Tobacco 46.40 48.60 (2.20) 48.15 46.20 46.87 (3.20) 0.03
OGDC 66.75 66.95 (0.20) 67.15 66.75 66.94 (3.68) 10.15
Source: KSE
Volume Leaders (Top 10 scrips 119.17 mn shares)
Scrips
Today's close
(PKR)
Previous close
(PKR) +/- (PKR)
High rate
(PKR)
Low rate
(PKR)
Volumes (mn
shares)
ACBL 92.90 91.40 1.50 93.05 91.50 22.50
SNGP 56.25 56.65 (0.40) 57.10 56.10 14.33
BOP 62.40 61.95 0.45 62.70 62.00 13.01
DGKC 52.00 51.95 0.05 52.30 51.85 12.53
PIAA 12.75 12.20 0.55 13.00 12.05 10.56
HUBC 30.75 30.60 0.15 30.95 30.45 10.18
OGDC 66.75 66.95 (0.20) 67.15 66.75 10.15
PGF 48.50 48.90 (0.40) 49.00 48.30 9.85
NBP 72.85 72.70 0.15 73.00 72.60 9.08
POL 211.50 212.15 (0.65) 213.00 210.80 6.98
Source: KATS
CLOSING BELL
(View from our sales desk)
01-Dec-2004
Key Statistics
KSE-100 Index
Current Close: 5560.50
Previous Close: 5567.79
+/- (Points) –07.29
+/- (%): -00.13
High/Low: 5581.47/5558.70
Adv/ Dec: 198/191
YTD High/Low: 5620 /4473
Historical Performance
One Month:
+313.59(+05.98%)
Three Months:
+240.12(+04.51%)
One Year:
+1297.43(+30.43%)
Year to date:
+1088.90(+24.35%)
Market Stats
Volume traded
Current (Shares): 197.30 mn
Previous (Shares): 256.33 mn
Institutional Sales Team
(Karachi) Fax (92-21)
123 4567
sales@elixirsec.com
(92-21) 242 3104
Closing Bell represents views
of Elixir Securities’ sales desk
and opinions stated here may
not coincide with those of
Elixir's research department