· Anticipation of more Saudi money and the Pakistan Mineral Summit lifted the KSE-100 further to cross 48k.

· Large caps again led the way, with OGDC PA (+7.5%), PPL PA (+6.7%), HBL PA (+7.15), and PSO PA (+4.94%) all seeing strong gains.

· SBP will announce monetary policy MPC shortly with the street split between a hold or a +1% increase.

· A rise in rates can see Monday become the week’s high and Pakistan’s correct following a very strong run.

· For July KSE-100 gained +16.63% in USD terms ranking it 2nd globally after Turkey.

· Nearest support is now @ 47k.

· July has seen around USD 20mn net inflow from Foreign Corporates (FC), a number that has only been crossed four times since 2018, with the last occurrence taking place in Jan ’22 (USD +20.77mn).

· Continued FC buying will be very bullish given that this segment has net sold USD 2.7bn since CY15, having net bought USD 1.4bn between 2009-2014.

· The key takeaway is that when FCs become net buyers or sellers, that trend persists for years and deals in billions of USD.

Courtesy – AHL Sales