Intermarket Securities
Intermarket Securities

Intermarket Securities

Coverage: Pakistan
Intermarket Securities Ltd (IMS) is a full service brokerage offering trading, research and IB services. IMS has one of the most accredited equity market teams in Pakistan, and has received multiple awards from CFA Society Pakistan and Asia Money.
Location: Karachi
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Analysts

Latest articles from Intermarket Securities

Macro Analysis / Global

Pakistan Economy: SBP maintains Policy Rate at 7.0%

The State Bank of Pakistan (SBP) has maintained the policy rate at 7.0% in today’s monetary policy meeting. The decision falls in line with consensus expectations where the money market and PIB rates in recent auctions suggested no change in MPS. The...
Intermarket Securities Saad Ali
Saad Ali @ Intermarket Securities 21 September 2020
Equity Analysis / Pakistan

Pakistan OMCs: Pick-up in sales slows down in July due to higher prices

As per provisional data, overall OMC sales in July 2020 grew 8% yoy and 3% mom to 1.66mn tons. Excluding furnace oil (FO), sales are higher 15% yoy but down 5% mom. Sales of Mogas (petrol) and HSD (diesel) were up 14% and 24% yoy in July because of (...
Intermarket Securities Saad Ali
Saad Ali @ Intermarket Securities 5 August 2020
Macro Analysis / Pakistan

Pakistan: Rise in rural food inflation pushes CPI to 9.3% in July

National CPI rose to 9.3% yoy in July 2020 vs. 8.6% yoy in June. Urban non-food inflation continued to drop (3.9% in July vs. 4.7% in June), while Rural non-food inflation rose to 6.3% vs. 5.8% in the previous month. This was largely led by yoy rise...
Intermarket Securities Yusra Beg
Yusra Beg @ Intermarket Securities 3 August 2020
Macro Analysis / Pakistan

Pakistan Market: KSE-100 in July – Sharp rebound on good economic trends

The KSE-100 bounced back sharply in July 2020 (up 14%mom) after muted performance in June (CYTD decline narrowed to -3.6%). KSE-100 has rallied c.44% (12,030 points) from its CY20td low in March, where we think the rally can extend if (i) future econ...
Intermarket Securities Yusra Beg
Yusra Beg @ Intermarket Securities 3 August 2020
Macro Analysis / Global

Pakistan strategy: Cornered tiger

We see several reasons to be bullish on the Pakistan market. Despite the strong straight lift in July 2020 so far (+9.8% MTD), the KSE-100 is still down 7.2% CYTD (-14.1% in US$ terms). Improved policymaking underpins our liking for the market. Pakis...
Intermarket Securities Raza Jafri
Raza Jafri @ Intermarket Securities 22 July 2020
Pakistan strategy: Cornered tiger
Pakistan strategy: Cornered tiger
Macro Analysis / Pakistan

Pakistan Economy: Remittances rise to record level in June

Remittances in June 2020 rose an astounding 49% yoy (up 31% mom) to US$2.5bn, which is also the highest monthly inflow ever recorded. Expats sending money to families in Pakistan to support them against the health and economic effects of the pandemic...
Intermarket Securities Saad Ali
Saad Ali @ Intermarket Securities 13 July 2020