PSX Daily Market Review -11 April 2017

The Bench Mark KSE100 Index Opened at 47889.37, posted day high of 48095.55 and day low of 47731.99 during last trading session while it suspended at 47942.95  with net change of 53.58 points and net trading volume of 49.08 million shares. Daily trading volume of KSE100 listed companies dropped by 6.86 million shares or 12.27% on DoD basis.
Foreign Investors remained in net selling position of 4.86 million shares and net value of Foreign Inflow dropped by 0.49 million US Dollars. Categorically Foreign Corporate and Overseas Pakistani Investors remain in net selling position of 4.3 and 0.55 million shares but Local Individuals remain in net buying of 1501 shares. While on the other side Local Individuals and Companies remain in net selling position of 8.93 and 1.72 million shares but Local Banks, NBFCs, Mutual Funds and Brokers remain in net buying position of 0.2, 0.19, 1.13 and 12.62 million shares respectively.

Asian stocks fell in choppy trade on Tuesday as the political tinderbox in the Middle East and the Korean Peninsula added to uncertainty over the looming French vote, pushing edgy investors into safer assets such as the yen and Treasuries. Oil continued its steady climb on supply concerns in the wake of U.S. missile strikes on a Syrian air base last week, and a shutdown at a Libyan oilfield. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS swung between gains and losses and was last down 0.4 percent. "Most Asian markets could be seen with moderate changes this morning amid a mixed trend," said Jingyi Pan, market strategist at IG in Singapore. "Price movements here appear to be largely mirroring those in the U.S., with key corporate earnings due later in the week and could be the reason that investors are still holding onto equities." The heightened geopolitical risks come at a time when the global economy has shown steady improvement, led by the United States and encouraging momentum in export-reliant Asia.
The Water and Power Development Authority (WAPDA) is implementing eight mega projects on a fast track basis with cumulative power generation capacity of more than 10,000 megawatt (MW) and gross water storage capacity of 10.6 million acre feet (MAF). Once completed, these projects will go a long way in meeting the increasing need for water and electricity in the country.
Board of Investment Chairman Miftah Ismail has said that ban on new industrial gas connections is likely to be lifted as the BOI has forwarded summary to Prime Minister Nawaz Sahrif in this regard. While speaking at the Lahore Chamber of Commerce and Industry (LCCI), the BOI chairman said that some private sector players are also playing role to help the government to overcome gas shortage as they are negotiating deals to import LNG. He said, “Soon after taking over in 2013, Prime Minister Nawaz Sharif took gas and electricity shortage as the biggest challenges to the economy and today we are sure that there would be no load shedding in 2018.” He said that investment state of affairs would go better with improvement of infrastructure, electricity, water and gas supply.
In order to develop the Islamic capital market, the Securities and Exchange Commission of Pakistan (SECP) is amending the Issue of Sukuk Regulations 2015 to facilitate the issuers, reduce the cost of issue and easing the regulatory burden. The proposed amendments include waiving mandatory underwriting where the purpose of the issue is to repay its existing debts, reducing the minimum number of underwriters from two to one, specifying the fit and proper standards for a Sharia adviser and essential elements of a Sharia pronouncement, disclosing expenses specific to Sharia compliance and audit, emphasizing issuance of sukuk using the SPV structure and aligning the definition of sukuk with the definition given by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI).
The Overseas Investors Chamber of Commerce and Industry (OICCI) has submitted comprehensive taxation proposals for the upcoming Sindh Budget 2017-18, representing the collective recommendations of foreign investors.

Today TRG, DCL, ATRL and ISL can lead the market in the positive direction. 

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