*Chase Securities* *What You Should Know Today* *06th February, 2025* *Key Headlines* 1. Housing sector: PM likely to approve package today 2. Minerals framework being finalised 3. Letter to PM: Govt should revisit gas price hike for CPPs: PBC 4. SBP buys $3.8bn to shore up forex reserves *Market Outlook: Consolidation Continues Amid Sector-Specific Developments* The market remains in a consolidation phase as profit-taking was observed, particularly in the E&P sector, due to a lack of imminent triggers. The Reko Diq deal appears to be extended for the next few months, with no significant dividend payouts expected in the medium term. While the improving fundamentals of E&P companies—mainly driven by circular debt resolution—have been priced into the market, fresh triggers will be needed for the next rally. The recent price corrections present an attractive entry point for investors anticipating a sectoral rebound. The auto sector continues to be in focus, with Sazgar reporting car sales for December 2024 and January 2025, collectively exceeding 2,000 units. This positive development fueled a rally in the stock, which hit its upper circuit on the last trading day. Meanwhile, LUCKY Motors is set to officially launch the KIA Sportage today, adding to the growing SUV segment in Pakistan. These developments are expected to keep the auto and auto parts sector in the limelight. In policy-related news, reports suggest that the Prime Minister is likely to approve a new housing plan today. The proposed package includes tax reductions for low-cost housing and incentives for first-time homebuyers. However, the package will require IMF approval in the next review, as tax concessions and relaxed income source disclosures have historically faced resistance from the lender. Overall, the market is expected to remain stock- and sector-specific as key triggers unfold. With the upcoming MSCI review and the ongoing corporate earnings season, investor sentiment is likely to be driven by company-specific developments. *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* HALEON, PAK AGRO, MCB, BBFL, KSTM, BELA- Corporate Results CPHL, HASCOL- Other Matters *Corporate Briefing* N/A *Start of Ex-Price today* POL- 250% Dividend APL- 125% Dividend ATRL- 50% Dividend LCI- 340% Dividend SEPL- 25% Dividend THCCL- 5% Dividend *Last Day of Entitlement* N/A *Other Key Events Today* FX Reserves Position will be released today. *Results to be Announced at Market Open* MCBIM, BWHL