PIB yields down| DR fears abated But PKR weakens SBP’s decision to held monetary policy meeting on Sept 13 has abated fears of Discount rate hike, which has been reflected by drop in PIB yields by 20- 40 bps yesterday. KSE100 has corrected around 5% from its high but share prices have took correction of around 15% – 20% especially banking and cement stocks. INR’s depreciation is worrying for the region to strike a balance in competitive advantage to maintain export market share and expect some ripple effect is likely to cause PKR and other currencies to devalue as well in same region, proving concerns of UN and world bank to prohibit currency wars and can be lethal for maintaining economic equilibrium of the world. Market View Valuations have gone attractive due to over correction in some shares as compared to KSE100 Index. We recommend to capitalize the discounted valuations with staggered buying approach.
Posted on: Wed, 28 Aug 2013 06:01:31 +0000
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