PSX Daily Market Review - 12th April 2017

The Bench Mark KSE100 Index Opened at 47942.95, posted a day high of 48257.03 and a day low of 47870.07 during last trading session. It suspended at 48250.07 with a net change of 307.12 points and net trading volume of 50.13 million shares. Daily trading volume of KSE100 listed companies increased by 1.04 million shares or 2.13% , DoD basis.
Foreign Investors turned back to buying and they remained in a net buying position of 1.07 million shares and the net value of Foreign inflow increased by 2.98 million US Dollars. Categorically, Foreign Corporate and Overseas Pakistani Investors remained  in net buying positions of 0.41 and 0.68 million shares respectively. However, Foreign Individuals remained in a net selling position of 21,000 shares. While on the other side, Local Individuals, Banks and Mutual Funds remained in net selling positions of 4.95, 0.18 and 0.76 million shares respectively. Local Companies and Brokers remained in net buying positions of 1.71 and 4.07 million shares respectively.

Investors ducked for cover on Wednesday as a drumbeat of alarming geopolitical news sent the safe-haven yen and gold to five-month highs and yields on top-rated sovereign bonds to their lowest for the year so far. The unease tarnished an otherwise brightening outlook for global economic growth and put equities on the defensive. Japanese Nikkei slid 1.2 percent as a rising yen weighed on exporters shares, while E-mini futures for the S&P 500 slipped 0.3 percent. MSCI broadest index of Asia-Pacific shares outside Japan was near flat. Shanghai eased 0.4 percent as China reported a slight slowdown in producer price inflation. In contrast, gold climbed to $1,277.29 an ounce and touched its highest since Nov. 10. "A degree of uncertainty has found its way into previously seemingly bulletproof financial markets," wrote analysts at ANZ.
Trade deficit ballooned by 38.8 per cent to an all-time high $23.385 billion during the first nine months of the current financial year. When the Pakistan Mus­lim League-Nawaz came to power in 2013, the country trade deficit was $20.435bn that has been on an upward trajectory since then owing to rising imports, while exports continue to fall and have reached the level prevailing five years ago. Trade deficit stood at $3.208bn in March, a rise of 77.34pc compared to the same month a year ago, according to the data released by the Pakistan Bureau of Statistics on Tuesday.
The transmission lines of the Lahore Electric Supply Company (Lesco) has been upgraded with new investment of Rs13 billion, as 274km long new transmission lines have been laid down, which would be capable of transmitting 2,310MVA additional electricity. Moreover, 29 new grid stations have been set up in Lesco jurisdiction while 65 grid stations were upgraded from 66kv to 100kv. This was stated by Minister of State for Water and Power Chaudhry Abid Sher Ali while talking to the media after holding a meeting with Lesco officials to discuss electricity theft, line losses and over-billing here at Alhamra Hall.
Punjab Halal Development Agency (PHDA) Chairman Justice Khalilur Reman Khan has said that the UAE authority has allowed transportation of halal products through sea that would bring down the cost of freight by one third. He was addressing the foreign delegates participating in 6th International Halal Conference here at the Lahore Chamber of Commerce and Industry along with LCCI President Abdul Basit, Senior Vice President Amjad Ali Jawa and Executive Committee members. Participants of the International Halal Conference from Russia, Tartaristan, Indonesia, Malaysia, UK and UAE also spoke on the occasion.
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 ASC, MTL, AGTL and STCL can lead the market in the positive direction. 

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