PSX Daily Market Review 25 Nov. 2016

The Bench Mark KSE100 Index Opened at 42901.02, posted day high of 43206.33 and day low of 42901.02 while session suspended at 42949.73 points with net trading volume of 140.03 million shares. Daily trading volume of KSE100 Listed companies dropped by 4.46 million shares or 3.09% on DOD bases.

Asian stocks advanced on Friday as the Thanksgiving break in the United States helped slow a relentless surge in the dollar that has sucked capital out of most emerging markets. The respite for Asian assets may be short-lived, however, with U.S. Treasury yields resuming their climb after the holiday as investors bet that President-elect Trump will adopt policies that increase spending and debt, as well as spur higher growth and inflation. MSCI broadest index of Asia-Pacific shares outside Japan added 0.3 percent. It is poised to end the week 1.4 percent higher, its biggest weekly gain in two months.
The Pakistan State Oil (PSO) continues smooth nationwide fuel supplies besides ensuring ample fuel reserves in stock.This was announced by an official of the PSO here on Thursday.He said that in continuation of its resolute commitment toward fueling the country without interruption, Leading oil marketing company Pakistan State Oil continues smooth nationwide fuel supplies besides ensuring ample fuel reserves in stock.
The government informed the Senate on Thursday that power sector circular debt stands at Rs 328 billion at present and there is no truth in reports that it has soared up to Rs 650 billion. Senator Syed Shibli Faraz of Pakistan Tehreek-e-Insaf (PTI) through a calling attention notice in the Senate, drew the attention of the government towards a story published by Business Recorder that the power sector circular debt has soared up to Rs 650 billion due to incompetence of the government. He said that the federal government, especially the Planning Commission, has miserably failed to put some policy guidelines in place to deal with the burgeoning issue of circular debt, adding the ministry is clueless how to control the rising circular debt.
National Electric Power Regulatory Authority (NEPRA) is trying to promote a competition base electricity market in Pakistan enabling consumers to purchase electricity from the company of their own choice, said Director Consumer Affairs Engineer Imtiaz Hussain Baloch. He was addressing a meeting of local industrialists and businessmen in Faisalabad Chamber of Commerce and Industry (FCCI) here today. He said that the fundamental responsibilities of NEPRA is to issue license to power generating companies, fix the electricity tariff and implement NEPRA laws as a regulatory in addition to protecting the rights and interests of end consumers.
Pakistan LNG Ltd has received strong interest in its tender to buy as many as 240 shipments of liquefied natural gas (LNG) from suppliers hungry to sell gas in an oversupplied market, a senior official told Reuters on Thursday. The emergence of Pakistan as a large-scale buyer is a welcome boost in the market for the supercooled gas as demand slows in traditional big buyers like Japan. Spot Asian LNG prices have fallen by two-thirds since the beginning of 2014 as new supplies have flooded the market. Launched earlier this month, the tender for a combination of mid- and long-term shipments has been extremely well received, said Adnan Gilani, chief operating officer of state-owned Pakistan LNG. The dollar managed to touch the barrier of Rs 107 versus the rupee on the money market on Thursday, dealers said. Some money experts attributed the rise in dollars demand to rising demand from investors and buyers. The rupee shed 20 paisas against the greenback for buying and selling at Rs 106.80 and Rs 107.00, they said.

The Bench Mark KSE100 Index is capped by a resistant trend line at 43698 on Daily Chart but its not becoming able to maintain its momentum as it have not become able to close above its previous high after penetrating that, which could be a caution call trigger on technical side. The daily RSI and Stochastic have generated crossovers for a short term pullback towards 43000 points. For current trading session, swing trading strategy with trailing stop loss could be beneficial as if Index would not be able to close above 43091 level, then it can be pushed back towards 42460 points.