PSX Daily Market Review 13 Jan. 2017

The Bench Mark KSE100 Index opened at 49590.63 with a gap of 210 points, posted day high of 49804.55 and day low of 49454.61 during last trading session while session suspended at 49517.02 with net change of 145.42 points and net trading volume of 200.54 million shares. Daily trading volume of KSE100 listed companies increased by 9.19 million shares or 4.8% on DOD bases.

Asian shares dipped on Friday but remained on track for weekly gains while the dollar was poised for a losing week, as investors weighed whether President-elect Donald Trump would stress growth-boosting steps when he takes office. On Wall Street, major indexes finished lower a day after Trump failed to elaborate on his economic stimulus plans in his first news conference since his Nov. 8 election victory. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.2 percent, after rising to its highest levels since late October in the previous session. It was up 1.8 percent for the week. Japanese Nikkei stock index .N225 rose 0.4 percent, on track to shed 1.2 percent for the week.
The Oil and Gas Regulatory Authority (OGRA) has restricted 13 oil marketing companies (OMCs) from expanding retail outlet network. In a public notice, the OGRA directed the Pakistan State Oil Company Limited (PSO), Shell Pakistan Limited and Total Parco Marketing Limited to stop expansion of retail outlet network across the country except Sindh.
Pakistan State Oil (PSO) has requested the Ministry of Finance to compel Pakistan International Airline (PIA) to clear the outstanding dues of Rs 14.5 billion, saying if payments are not made as per plans, the PSO might not ensure uninterrupted jet fuel supply to PIA.
Large-scale manufacturing (LSM) grew 8.02 per cent in November on a year-on-year basis. Some interpret it as start of a revival in the industrial production. With the higher-than-expected growth in LSM, the government is expected to achieve the GDP growth target of 5.7pc for 2016-17. In July-Nov, LSM grew 3.24pc over the corresponding months of the last year, according to data released by the Pakistan Bureau of Statistics (PBS) on Thursday.
The Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000) will help overcome power load-shedding in Pakistan, Prime Minister Nawaz Sharif said on Thursday. The role of CASA-1000 is important in redressing the power shortages in Pakistan, he said during a meeting with Kyrgyzstan Minister for Economy Kojoshev Arzybek Orozbekovich at the Prime Minister’s House.
CHCC, FFC, PNSC and Overall Oil Sector (specifically PSO) can lead market in positive direction.

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