PSX Daily Market Review - 23rd Sep 2019

Trading volume at PSX floor increased by 16.71 million shares or 12.24% on DoD basis, whereas the benchmark KSE100 index opened at 32,184.03, posted a day high of 32,332.73 and a day low of 32,055.30 points during last trading session while session suspended at 32,111.10 points with net change of -72.93 points and net trading volume of 120.35 million shares. Daily trading volume of KSE100 listed companies increased by 10.24 million shares or 9.30% on DoD basis.
Foreign Investors remained in net selling positions of 5.96 million shares but net value of Foreign Inflow increased by 1.57 million US Dollars. Categorically, Foreign Individual and Corporate Investors remained in net selling positions of 0.05 and 6.5 million shares but Overseas Pakistanis remained in net long positions of 0.59 million shares. While on the other side Local Individuals and Banks remained in long positions of 13.58 and 1.68 million shares but Local Companies, Mutual Funds, Brokers and Insurance Companies remained in net selling positions of 1.63, 2.95, 1.38 and 2.9 million shares respectively.

Asian shares dip on geopolitical tensions, oil up 1%
Most Asian share markets slipped on Monday as investors waited for more clarity on the Sino-U.S. trade talks after recent negotiations, while oil gained more than 1% as Middle East tensions remained elevated. Chinese shares opened in the negative territory, with the blue-chip index .CSI300 down 1.5%. Hong Kong's Hang Seng index .HSI was 0.8% weaker after a weekend of sometimes violent protests that saw pro-democracy activists vandalize a railway station and shopping mall. South Korea's Kospi .KS11 was a touch weaker after disappointing trade data while Australian and New Zealand shares bucked the trend and were both about 0.3% higher. That left MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS down 0.3% at 509.94 points. It is still up more than 3% so far in September.
DISCOs receivable increases by Rs166 billion in FY17-18: NEPRA

The overall receivables of all the power distribution companies (DISCOs) have increased by Rs166.26 billion which are considerably higher than the receivables of Rs 45.82 billion during FY 2016-17. According to State of the Industry Report 2018 released by the National Electric Power Regulatory Authority (NEPRA), on June 30, 2018, the overall distribution sector receivables stood at Rs 896.15 billion whereas, the receivables at the start of this financial year were Rs729.89 billion. During FY 2017-18, receivables from the Federal Government have increased by Rs2.32 billion over those of FY 2016-17.The receivables of DISCOs from the provincial governments of Punjab, Sindh and Balochistan have increased in this financial year, whereas the receivables from Khyber Pakhtunkhwa have slightly decreased. In addition, FATA receivables from domestic consumers have increased from Rs22.18 billion in FY 2016-17 to Rs26.85 billion in FY 2017-18. The receivables from K-Electric in FY 2017-18 have also increased by Rs18.33 billion.
Pakistan open to Canadian investment: Envoy
“Pakistan is open for business, trade and investment by Canadian companies,” said High Commissioner Raza Bashir Tarar while addressing an event organised by Organisation of Pakistani Entrepreneurs of North America (OPEN) at Toronto. While highlighting potential of Pakistan-Canada bilateral trade, the High Commissioner said that Pakistan’s Investment Policy is one of the most liberal in the region. Canadian oil, gas and solar energy firms can benefit from profit making opportunities in Pakistan. He added that Pakistan needs FDI in key sectors. Canada can help Pakistan in sectors like infrastructure, agro-business, health, Science, Technology, Innovation and education sectors.
Investors pulled out Rs152b from CDNS
Directorate of National Savings (CDNS) has pointed out that the investors of Rs40,000 prize bonds have withdrawn Rs152 billion by August 31, out of total stock of Rs259 billion investment from CDNS after the federal government decided to discontinue the specific bond. Directorate of National Savings (CDNS) has pointed out that the investors of Rs40,000 prize bonds have withdrawn Rs152 billion by August 31, out of total stock of Rs259 billion investment from CDNS after the federal government decided to discontinue the specific bond. The National Savings is expecting that total amount to be drawn by the investors, would be around to Rs194 billion by end of September, out of which Rs40 billion were drawn in July and Rs112 billion in August, senior official of CDNS told APP here.