PSX Daily Market Review - 18th April 2017

The Bench Mark KSE100 Index opened at 47577.06, posted a day high of 47672.62 and a day low of 46743.55 during the last trading session, while it suspended at 47125.12 with a net change of -451.94 points and net trading volume of 65.33 million shares. Daily trading volume of KSE100 listed companies increased by 12.17 million shares or 22.88%, DoD basis.
Foreign Investors remained in a net selling position of 2.43 million shares and net value of Foreign Inflow dropped by 2.87 million US Dollars. Categorically Foreign Individuals and Corporate investors remained in net selling position of 0.18 and 4.55 million shares but Overseas Pakistanis remained in net buying position of 2.3 million shares. While on the other side Local Individuals, Companies, Banks and NBFCs remained in net buying position of 5.3, 3.39, 0.12 and 0.16 million shares respectively but Local Mutual Funds and Brokers remained in net selling position of 3.7 and 3.65 million shares.

Asian stocks pulled back on Tuesday, and the dollar gave up the gains it had clocked on the U.S. Treasury Secretary comments in support of a stronger currency, as escalating tensions over North Korea dragged sentiment lower. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS dropped 0.6 percent. Japanese Nikkei .N225 added 0.2 percent, shrinking earlier gains as the yen losses evaporated. Australian shares slipped 1 percent on their first trading day this week, after minutes of the central bank April meeting highlighted the balancing act it had to perform between a subdued labor market and escalating household debt in holding rates steady. The Australian dollar AUD=D4 lost 0.3 percent to trade at $0.7566. South Korean KOSPI .KS11 retreated 0.2 percent after U.S. Vice President Mike Pence told business leaders in Seoul that President Donald Trump administration will review and reform the five-year-old free trade agreement between the two countries.
The Khyber Pakhtunkhwa government on Monday signed 11 memoranda of understanding (MoUs) with Chinese companies for development projects in the province under the China-Pakistan Economic Corridor (CPEC). According to a press release, MoUs were signed for five projects costing up to Rs60 billion. These projects are related to CPEC Tower, construction of a new bus terminal at Chamkani, Ring Road missing link, Health City at Regi Model Town, and Commercial and Residential Reconstruction Centre.
Foreign direct investment (FDI) increased 12.4 per cent year-on-year in the first three quarters of 2016-17 mainly because of heavy inflows from China. The State Bank of Pakistan (SBP) reported on Monday the country received $1.6 billion in July-March against $1.42bn a year ago. With the beginning of the China-Pakistan Economic Corridor (CPEC), FDI was expected to increase sharply. However, the year-on-year increase of just $176.4 million in the nine-month period means policymakers have failed to attract foreign investors. FDI from China rose to $595m from $590m a year ago. Chinese investment constitutes 37pc of FDI inflows.
The electricity shortfall surged once again to about 6,000 megawatts on Monday as temperatures rose to 46-47 degrees Celsius in most of the southern region, resulting in unscheduled load shedding of 12-16 hours. Reports from various parts of the country suggested 7-9 hours of load shedding in major urban centers and 10-18 hours in rural areas.
The Planning Commission has received a demand of Rs1.8 trillion from various ministries and agencies for next year development schemes, but the commission was proposing Rs1tr for the public sector development programme (PSDP) of 2017-18, Minister for Planning and Development Ahsan Iqbal said on Monday. Speaking at a news conference, the minister said the energy projects that the PML-N government launched since coming to power in 2013 were now in advanced stages and would add about 10,000 megawatts to the system between May of this year and 2018. This would be single largest capacity addition to the power sector in history of Pakistan.

Today EPCL,PKGS  SSGC and TRG can lead the market in the positive direction.

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