The benchmark KSE-100 is likely to trade in a narrow range amid lack of triggers and slowdown in the economy. The T-Bill auction today is the main attraction where government is targeting to raise Rs1.0 trillion against maturity of Rs.114 billion. It is pertinent to mention that T-bills yields in the secondary market have fallen off by 35bps and T-Bills are trading at 13.75%/13.73%/13.63 (3m, 6m and 1 year) in secondary market.The upbeat Crude Oil prices are expected to keep E&P sector in limelight.
Pakistan Stock Market is expected to consolidate around current levels as fears of inflationary pressure remain given concerns of fiscal slippages and economic slowdown. However, invitation by the government to financial advisers for raising an amount of US$2bn via Eurobond will provide relief on currency outlook. Furthermore, the reduction in tariff by of National Clearing Company of Pakistan (NCCPL) and Central Depository Company of Pakistan (CDC) will help to boost investor’s confidence in near future.