Morning Market Brief 8th Nov. 2021

Technical Overview

The Benchmark KSE100 index had faced rejection from a resistant trend line on daily chart during last trading session but it succeeds in closing above its major resistant region of 47,200pts. Now it needs to stay cautious because index have major resistant regions ahead and its losing strength on daily chart. For current trading session it seems that index would try to target its resistant regions once again and if it would succeed in closing above 47,500pts then a sharp bullish rally would be witnessed in coming days but for this purpose some healthy volumes would be needed. On intraday basis index may face resistances at 47,500pts which would be followed by 47,630pts and 47,700pts. While on flip side in case of bearish pressure index would try to establish ground above 47,000pts initially and then 46,870pts would try to act as pivotal value in coming days.

Regional Markets

Asia stocks relieved by payrolls, inflation test looms

Asian shares edged up on Monday as risk assets basked in the glow of the upbeat October payrolls report, though caution was warranted ahead of a reading on U.S. inflation that could spook the rate horses.The congressional passage of a long-delayed U.S. $1 trillion infrastructure bill cheered investors, though a broader social safety net plan remains elusive.Data out over the weekend also showed China's exports beat forecasts in October, though imports lagged.Early moves were modest with MSCI's broadest index of Asia-Pacific shares outside Japan up 0.1%. Japan's Nikkei added 0.3%, but was just short of the recent five-week peak.Read More...

Business News

NPO to organise training on ‘Project & Construction Management’ on November 10

National Productivity Organisation (NPO) is going to organise a webinar on “Project and Construction Management” on Wednesday, November 10. Project and Construction Management involves directing and organising each part of the project life cycle, from ideation to completion, according to official NPO document. It’s a holistic practice with the goal of delivering projects on time and under budget. Construction project management is a complex discipline that requires addressing many important concerns, including cost control, scheduling, procurement, and risk assessment.Read More...

Pakistan’s exports to China to be doubled in next 3-5 years: Ambassador Haque

Pakistan Ambassador to China, Moin-ul-Haque expressed the confidence that Pakistan’s exports to China would be doubled in the next 3 to 5 years as a result of increasing interest of Pakistani traders and companies to trade with China.“China-Pakistan export and import trade is very promising. I can foresee that in the next 3 to 5 years, Pakistan’s exports to China, such a huge market, will be doubled. And there is an increasing interest of Pakistani traders and companies, to trade with China,” he said during his visit to the 4th China International Import Expo (CIIE) being held in Shanghai.Read More...

Subsidy amount under Ehsaas Rashan Programme to be increased gradually: Dr Sania

The subsidy amount being given under the newly announced Ehsaas Rashan Programme would be gradually increased keeping in view the impact of inflation on the purchasing capacity of the common people.This was stated by the Special Assistant to the Prime Minister (SAPM) on Poverty Alleviation and Social Protection, Dr Sania Nishtar in an interview with media on Sunday. Dr Sania said: “For now it is important that this system shall run on massive scale in a transparent manner and create its acceptability for the masses; the amount of subsidy or the quantity of the commodities can be increased through a single policy decision.Read More...

Pakistan fared better than others in managing price hike: PM Imran

Prime Minister Imran Khan on Sunday said Pakistan had fared much better than other countries in the wake of unprecedented price hike brought about by Covid-19.The opposition, on the other hand, rejects this notion and is gearing up to give a tough time to the government on the issue.In a tweet, PM Khan said: “An unprecedented rise in commodity prices internationally has adversely affected most countries in the world as a result of the Covid lockdowns.”However, he said, “Pakistan Masha Allah has fared relatively better in meeting the challenge.”Read More...