*Chase Securities* *What You Should Know Today* *04th February, 2025* *Key Headlines* 1. Pakistan, SFD sign $1.61b agreements to boost economic cooperation 2. CPI inflation in Pakistan slows to 2.41%, sharpest decline in nine years 3. Aurangzeb confident as Pakistan awaits IMF review 4. Sindh, Balochistan also pass agricultural income tax laws 5. ECC orders steps to control rising prices 6. PIA privatisation: Commission ready for second attempt at sell-off *Market Outlook: Patience* Patience is a key virtue in equity investing, especially when markets exhibit range-bound movement despite positive economic and political developments. Investors often expect immediate rallies following good news, but markets can take time to absorb fundamentals and adjust accordingly. Periods of consolidation present an opportunity to deploy fresh liquidity and build well-balanced portfolios at attractive valuations. Investing during a strong rally can be risky, as valuations may become stretched. Instead, recent corrections should be viewed as buying opportunities for value stocks. Upcoming catalysts, such as a successful IMF program review, potential MSCI weightage increase, and the upcoming monetary policy decision, could serve as triggers for improved market performance. Investors who position themselves strategically during market lulls stand to benefit when momentum eventually picks up. *Top Picks* OGDC, PPL, PSO, UBL, MEBL, BAFL, FFC, FATIMA, CHCC, MLCF, DGKC, SAZEW, GHNI, ATLH, AGTL, INDU, ISL, ASL, PSX, LOADS, COLG, GCIL, PAKT, IMAGE, SPEL, HUMNL, TGL, GHGL *Important Board Meetings Today* ABL, MCBIM, BWHL- Corporate Results GAL, SLGL- Other Matters *Corporate Briefing* FFC *Start of Ex-Price today* COLG- 320% Dividend *Last Day of Entitlement* POL- 250% Dividend APL- 125% Dividend ATRL- 50% Dividend LCI- 340% Dividend SEPL- 25% Dividend *Other Key Events Today* Tbills Auction- Maturity PKR 426bn, Target PKR 450bn. PIB Floater Auction- Target PKR 450bn.