PSX Daily Market Review - 25th Jan. 2018

Trading volume at PSX floor increased by 113.23 million shares or 50% on DoD basis during last trading session, whereas the benchmark KSE100 Index opened at 45037.35, posted a day high of 445494.52 and a day low of 44781.83 during last trading session. The session suspended at 45063.21 with net change of 156.01 and net trading volume of 173.35 million shares. Daily trading volume of KSE100 listed companies increased by 59.93 million shares or 52.84% on DoD basis.
Foreign Investos remained in net buying position of 2.63 million shares and value of Foreing Inflow increased by 7.83 million US Dollars. Categorically, Foreign Individual, Corporate and Overeas Pakistani Investors remained in net buying postions of 0.09, 1.62 and 0.91 million shares respectively. While on the other side Local Individuals, NBFCs, Mutual Funds and Insurance Companies remained in net buying positions of 16.91, 1.91, 0.69 and 4.76 million shares respectively but Local Comapnies, Banks and Brokers remained in net selling positions of 9.39, 8.99 and 8.3 million shares respectively.

Asian stocks held near a record high on Thursday though concerns about the Trump administration’s protectionist stance cast a shadow on financial markets, while the dollar was under pressure after U.S. Treasury Secretary Steven Mnuchin welcomed a weaker currency. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.15 percent while Japan’s Nikkei fell 0.8 percent, hit by the dollar’s decline against the yen. MSCI ACWI, the index provider’s broadest gauge of the world’s stock markets, extended its gain so far this month to 6.5 percent on Wednesday, posting rise in 14 out of 16 U.S. business days. Wall Street shares were mixed, however, as a boost from solid earnings were offset by trade protectionism worries fanned by U.S. President Donald Trump’s decision to impose steep import tariffs on washing machines and solar panels earlier in the week.
The Pakistan International Airline (PIA) has announced special extra daily flight from Karachi to Gwadar for one week starting from Jan 26th in addition to its daily flights to Gwadar . The decision was taken by President & CEO PIA , Musharraf Rasool Cyan in order to help promote Gwadar Expo 2018 due to be held on 29-30 January 2018. A meeting was held at PIA Head Office. The officials included Federal Minister of State for Maritime Affairs, Chaudhry Jaffer Iqbal, DG Ports & Shipping Asad Rafi Chandna, DDG CAA, AVM Usaid ur Rehman.–NNI While Chief Operating Officer, Zia Qadir Qureshi, Chief Commercial Officer Bilal Munir Shaikh, GM Scheduling Qamar Shamim, GM Central Control Zulfiqar Khan and senior officials of PIA were present at the meeting. Chief Operating Officer PIA , Zia Qadir Qureshi assured the Minister PIA 's full support for the success of Gwadar Expo 2018.
Pakistan and Indonesia will sign amended preferential trade agreement (PTA) tomorrow (Friday) in Islamabad, which incorporated unilateral trade concessions granted by Indonesia on 20 items. The Indonesian government recently unilaterally agreed to provide Pakistani products with deeper market access under the PTA. Both the countries would sign the unilateral concession granted by Indonesia on Friday during the visit of Indonesian President. Major exports items from Pakistan would include tobacco, textile fabric, rice, ethanol, citrus (kinnow), woven fabric, and mangoes. The amended PTA would help in increasing volume of bilateral trade, which is currently around $2.4 billion. Pakistan and Indonesia signed the PTA in 2012, which came into operation in 2013. As a result, the bilateral trade witnessed a substantial increase but all in favour of Indonesia .
Prime Minister Shahid Khaqan Abbasi Wednesday said the government would provide full support and facilitation to foreign companies interested to invest in Pakistan. Talking to Chief Executive Officer (CEO) of Siemens AG Joe Kasser at the sidelines of World Economic Forum in Davos, he assured Siemens of complete support for any such initiatives. Special Assistant to Prime Minister Ali Jehangir Siddiqui and senior government officials were also present, a press release received here said.
Golen Gol Hydropower Project 108 Megawatt has started electricity generation Wednesday as the first unit has started providing 36 MW power to Chitral. Prime Minister Shahid Khaqan Abbasi will be formally inaugurating the project during first week of February. After two years of remaining in dark, due to destruction caused by flood and land sliding, Chital has finally got the much needed electricity. The total requirement of Chitral is 11 MW and the project even in winter season, when water flows are its low, will be able to provide electricity to the area.
Its recommended to practice caution as market is expected to remain volatile.

The Benchmark KSE100 Index have generated a doji on daily chart during last trading session and it appeared right after a hammer on top as of right now its also capped by a resistant trend line along with a horizontal resistant region at 45330 and 45465 and these both levels would try to react as strong resistnaces. Daily Stochastic have generated a bearish crossover while weekly stochastic is ready for that and if index would become able to slip below 44483 during current trading session then an evening star would be created which would push index in negative zone in coming days. Its recommended to stay sideline until index gives a clear breakout of either 45465 or 44483 as breakout in either direction would add 1000-1500 in index. On intraday basis maybe index would take a spike as hourly stochastic is reflecting some positive momentum but its not recommended to buy until index close above 45465.