Morning Meeting Notes 23-Apr-24

Equity Market Review and Outlook

Market Indices
Current %∆ MTD %∆ The equity market witnessed a bullish session as the index gained 524 points to reach at 71,433 level, up 0.74%.
KSE 100 71,433 0.74 6.61 Trading volume and value for the day stood at 655 mn shares and PKR 31.2bn respectively.
KSE 30 23,566 0.81 7.02 In the latest development, Pakistan and Iran have agreed to increase the volume of bilateral trade to USD 10 bn in the
KMI 30 119,598 0.86 6.44 next five years following the signing of eight agreements and memorandums of understanding (MoUs) for cooperation
PSX-KMI 33,366 1.04 5.71 in different areas including agriculture, technology and healthcare. Furthermore, Pakistan’s current account posted a
Traded Volume (mn Shares) surplus of USD 619mn in Mar-24 versus USD 98mn in Feb-24. The improvement in current account is mainly due to
Current Previous %∆ significant jump in remittances due to the seasonal trend of Ramadan and Eid.
KSE 100 360.54 214.72 67.91
Moreover, the executive board of IMF is likely to finalise its last review of Pakistan’s USD 3 bn Stand-By Arrangement
KSE 30 174.79 116.55 49.96
(SBA) on 29th April. Additionally, foreign direct investment in Pakistan rose 52% YoY to USD 258mn in March-24.
KMI 30 166.71 148.96 11.92
PSX-KMI 397.32 317.80 25.02 Oil prices recovered to USD 82.3/bbl (+0.4) due to prospects of potentially tight supplies in the coming months.
KSE All Shares 655.21 475.83 37.70
Pak Rupee remained flattish at 278.3 against USD in the interbank market.
Traded Value (PKR mn)
Current Previous %∆ In the near to medium term, we believe that the market momentum will likely be driven by investment flows,
KSE 100 22,973 13,652 68.27 receiving of last tranche of ongoing IMF program, successful negotiation regarding the new IMF program and regional
KSE 30 18,145 11,831 53.37 developments particularly in the middle east.
KMI 30 12,321 11,120 10.80 Fixed Income Review and Outlook
PSX-KMI 20,919 19,951 4.85
KSE All Shares 23,220 34.57 3 months T-bill yields inched up by 4bps to 21.6% while 6 months yields went up to 21.3%. IY paper was yielding
31,249
Commodity Rates 20.7%, whereas 3yr yields remained flattish at 16.7%.
Current %∆ MTD %∆ Important News
WTI ($/bbl) 81.90 (1.49) (1.53)
 Pakistan, Iran sign 8 agreements, MoUs: Trade volumes to be hiked to $10bn in 5 years| BR, Positive
BRENT ($/bbl) 87.00 (0.33) (0.08)
 Pakistan’s current account posts surplus of $619mn in March |BR, Positive
GOLD $/oz 2,326 (2.68) 4.21
Coal ($/MT) 107.60 (0.83) 9.46  Foreign direct investment surges 52pc to 21-month high in March| TN, Positive
ICE Cotton 2 80.04 1.87 (12.46)  IMF board to approve $1.1bn on 29th |D, Positive
ICE Sugar 19.80 0.05 (12.04)  Rupee registers minor loss against US dollar |BR, Negative
Currency (Interbank)  Pakistan’s IT exports surge 37pc to record $306 million in March |TN, Positive
Current %∆ MTD %∆  Crude oil futures climb back into positive territory |TN, Negative
US $ 278.33 0.01 0.14
UK Pound 344.27 (0.58) (1.88)
Euro 296.63 0.06 (0.98)
Japanese Yen 1.80 (0.16) (1.99)
U.A.E Dirham 75.79 0.01 0.13
Fund Flows (USD mn)
USD in Million Current Previous MTD ∆
FIPI 1.19 5.70 38.45
INDIVIDUALS 2.68 (1.31) (12.17)
COMPANIES 2.02 (0.89) (2.61)
BANKS / DFI 1.32 (3.30) (14.19)
NBFC (0.02) (0.09) (0.22)
Mutual funds 2.46 (0.35) 3.88
Other Organization (0.55) 0.04 (2.47)
BROKER PROPRIETARY TRADING 1.67 0.23 3.75
Insurance Companies (10.77) (0.02) (19.07)
KIBOR (Offer)
Current Previous 31-Mar-24
1M 22.28% 22.28% 22.34% Fund Name 1-day Return Benchmark 30-day Return Benchmark
3M 21.91% 21.91% 21.99% HBL Income Fund 17.25 21.69 18.23 21.69
6M 21.69% 21.67% 21.71% HBL Financial Sector Income Fund Plan I 19.58 21.69 19.74 21.69
PKRV Rates HBL Government Securities Fund 13.23 21.34 14.59 21.37
Current Previous Change (bps) HBL Money Market Fund 15.77 20.78 18.95 20.81
16-30days 21.77 21.73 4 HBL Cash Fund 17.50 20.78 19.74 20.81
61-90days 21.55 21.51 4 HBL Islamic Money Market Fund 19.23 11.27 19.94 11.27
91-120days 21.53 21.53 - HBL Islamic Savings Plan 1 19.13 11.24 19.60 11.27
181-270days 21.22 21.21 1 HBL Islamic Income Fund 19.38 11.20 19.66 11.20
271-365days 20.77 20.78 (1) HBL Total Treasury Exchange Traded Fund 13.64 14.61 16.64 21.23
2years 17.29 17.28 1 HBL Stock Fund 0.89 0.81 12.03 9.88
3years 16.78 16.77 1 HBL Equity Fund 0.78 0.74 12.50 9.64
4years 16.18 16.17 1 HBL Multi Asset Fund 0.67 0.53 8.69 6.72
5years 15.51 15.50 1 HBL Islamic Asset Allocation Fund 0.84 0.78 10.76 8.22
6years 15.15 15.14 1 HBL Islamic Asset Allocation Fund - Plan I 0.17 0.03 1.75 0.58
7years 14.91 14.91 - HBL Islamic Asset Allocation Fund - Plan 2 0.12 0.03 1.69 0.58
8years 14.75 14.75 - HBL Islamic Stock Fund 0.72 0.86 10.76 9.49
9years 14.44 14.44 - HBL Islamic Equity Fund 1.01 0.86 14.44 9.49
10years 14.22 14.22 - HBL Energy Fund (0.08) 0.81 9.38 9.88
HBL Growth Fund - Class B 0.96 0.74 13.31 9.64
HBL Investment Fund - Class B 1.28 0.74 12.44 9.64

Disclaimer: Information stated in this document has been compiled by Research Department and is taken from reliable sources. The purpose of this report is to provide a brief insight of global and domestic markets. This document is
for internal purpose only and cannot be circulated outside the organization.