Stock Watch- Gain streak continues as KSE-100 index ends above 46,000 level.

Summary

During the week the investors finally came into terms with the physiological level of 46,000 of KSE-100 Index and profit-taking was observed on a range bound market. The mounting international prices and sliding at times on the indirect talks between United States and Iran kept market moving up and down. Global coal prices also hovered on the higher side leaving stocks in the cement sector under pressure.

The benchmark KSE-100 Index surged by 170 points and also crossed 46,000 level to close at 46.0079.37 Trading activities decreased by 28% and average volume was 207m. The market capitalization gained Rs.23 bn and closed at Rs.7,875T.

Monday: KSE-100 index 45,841.25 Change (-68.40) Vol 150 m Mkt.Cap Rs.7,834 T.

Tuesday: KSE-100 index 45,947.95 Change (+106.7) Vol 187 m Mkt.Capt Rs.7,843 T.

Wednesday: KSE-100 index 46,339.76 Change (+391.81) Vol 243 m Mkt.Capt.Rs.7,906 T.

Thursday: KSE-100 index 45,940.04 Change (-399.72) Vol 286 m Mkt. Capt. Rs7.846 T.

Friday: KSE-100 index 46,079.37 Change (+139.33) Vol 171 m Mkt. Capt. Rs7,875 T.

Participants/Activity

Foreigners were net seller of $5.90m during the week; companies were buyers $0.78 m, Banks were sellers $1.31m; Mutual fund net seller $4.53m individuals net buyer $3.09 m and Insurance were seller$3.70m.

Volume leaders during the week were: World Call Tele.56m; Telecard Ltd.52m; Hum Network 43m; K-Electric 36 m; Engro polymer 25m; TPL Properties 24m; Pak Electro18 m; Treet Corp 17m; TPL Corp, BOP and TRG 11m each; Cnergico PK 8m and OGDC 6m.

Participants: Co 364; Gain 155 Loss 186 and Unchanged 23.

Triggers

* SBP reserves increased by $1.6bnto $17.33 bn during the week ended Feb4.During the week ended, the central bank paid $400 mn in debt servicing. The SBP received $1.053 bn from IMF under EFF programme and $1 bn in proceeds against Pakistan International Sukuk issuance. The country's total reserves also increased to $23.720 bn while the holdings of commercial banks were $6.364 bn.

* Weekly inflation eases 0.08pc. The SPI which gauges inflation on a short term basis fell 0.08 per cent for the week ended on Feb 10

* Auto sector posts robust...