ELIXIR SECURITIES PAKISTAN

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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