PSX Daily Market Review - 06 March 2017

The Bench Mark KSE100 Index Opened at 49778.59, posted a day high of 49894.52 and a day low of 49564.08 during last trading session whereas session suspended at 49623.81 with a net change of -72.27 points and net trading volume of 118.71 million shares. Daily trading volume of KSE100 listed companies dropped by 29.58 million shares or 19.95% on DoD basis.
Foreign Investors remained in net selling position of 4.01 million shares and net value of Foreign Inflow dropped by 3.85 million shares. Categorically Foreign Individuals remained in net buying position of 16500 shares but Foreign Corporate and Overseas Pakistani Investors remained in net selling position of 3.06 and 0.97 million shares respectively. While on the other side Local Individuals, Companies and Banks remained in net buying position of 5.36, 0.3 and 0.33 million shares respectively but Local NBFCs, Mutual Funds and Brokers remained in net selling position of 0.8, 2.78 and 0.63 million shares respectively.

Asian shares rose on Thursday as investors were encouraged by President Donald Trump measured tone in his first speech to Congress, which sent Wall Street stocks sharply higher, while growing bets on a U.S. rate hike this month buoyed the dollar. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.2 percent, led by rebound in Australian shares . Japanese Nikkei .N225 rose 1.3 percent to a 14-month high. MSCI broadest gauge of the world stocks covering 46 countries .MIWD00000PUS rose nearly 1 percent to a record high, after posting its biggest daily gain in almost three months. On Wall Street, the Dow Jones Industrial Average .DJI blasted through the 21,000-point mark for the first time. Both the Dow and the S&P 500 .SPX rallied around 1.4 percent.
A company engaged in real estate shall not announce any real estate project unless it has obtained the SECP approval. At an estimated size of Rs7 trillion or so, Pakistan’s real estate market has been operating like an informal, yet parallel stock exchange. The housing shortage on the other hand is estimated to be around 10m units, growing further by almost 300,000 units a year. On top of that, the formal financial sector caters to just two per cent of all housing transactions as informal flows from overseas Pakistanis and domestic black money keep speculative investments flourishing in private housing ventures. Understandably then, the real estate sector operators made their fortune owing to a regulatory vacuum and inefficient revenue machinery, as the federal and provincial governments looked the other way for political reasons.
The government is taking concrete steps to improve overall trade volume on ports of the country. According to Radio Pakistan, Deep Water Container Port has been established having a capacity to handle 3.1 million containers, including transshipment containers. A ten-year Business Development Plan is also under process for the Karachi Port Trust with an aim to achieve efficiency and productivity as per international and regional benchmarks.
The Geological Survey of Pakistan (GSP) will launch a Rs663 million 3D mineral survey in potential areas of Sindh and Balochistan to assess metallic mineral reserves of iron, copper, gold, silver, molybdenum, official sources said. The project, scheduled to start on July 1, 2017, will complete in four years. The survey will be incorporated in the Public Sector Development Programme 2017-18 as it has already been approved by the National Assembly Standing Committee on Petroleum and Natural Resources, they told APP. The survey would be carried out at two prospective sites including Moti Jo Wandio in district Tharparkar of Sindh and Mashkichah in district Chaghi of Balochistan to evaluate potential economic mineral resources, they added. The project areas fall in the Pre-Cambrian Shield Rock and Chaghi Magmatic Arc, which have high potential of metallic and non-metallic minerals.
Banks and other financial institutions extended Rs10.1 billion housing loans during the first half of this fiscal year, said a report of the State Bank of Pakistan (SBP) issued on Saturday. The central bank in the half-yearly housing review reported that 1,775 borrowers were issued fresh loans of Rs10.1bn during the July-Dec 2016-17. However, a total of Rs21.6bn was disbursed in the calendar 2016. Islamic banks extended Rs4.2bn housing loans followed by private banks Rs3.6bn, House Building Finance Company Limited (HBFCL) Rs1.12bn and public sector banks Rs126.16 million.

BOP , GATM , PNSC and SMCPL can lead the market in the positive direction.

^{To Open picture in original resolution right click image and then click open image in a new tab}