PSX Daily Market Review - 29th March 2018

Trading volume at PSX floor increased by 12.52 million shares or 5.31% on DoD basis during last trading session, whereas the benchmark KSE100 Index opened at 45,032.93, posted a day high of 45,252.77 and a day low of 44,899.51 during last trading session. The session suspended at 45,172.99 with net change of 168.80 and net trading volume of 142.67 million shares. Daily trading volume of KSE100 listed companies increased by 38.57 million shares or 37.05% on DoD basis.
Foreign Investors remained in net selling position of 4.12 million shares and net value of Foreign Inflow dropped by 5.42 million US Dollars. Categorically, Foreign Individual and Corporate Investors remained in net selling positions of 0.19 and 4.15 million shares but Overseas Pakistanis remained in net buying position of 0.22 million shares. While on the other side Local Individuals, Companies, NBFCs, Brokers and Insurance Companies remained in net buying positions of 8.81, 0.82, 0.13, 1.56 and 3.86 million shares respectively, but Local Banks and Mutual Funds remained in net selling positions of 1.85 and 6.14 million shares.

Asia stocks edge up, yen drops amid perceived progress on North Korea issues
Asian stocks edged up and the safe haven yen was broadly lower against the dollar on Thursday amid perceived progress on North Korea issues, although equity gains were limited after a tech-led retreat on Wall Street. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.05 percent. Australian stocks dipped 0.1 percent, Japan’s Nikkei rose 1 percent and South Korea’s KOSPI added 0.1 percent. Wall Street closed lower after a rocky session on Wednesday as gains in consumer staples and healthcare were offset by a sharp drop in Amazon shares and a continuing slide in technology stocks.
CDWP to consider 38 projects today
The Central Development Working Party will meet here Thursday (today) to consider 38 projects worth Rs539 billion, including up-gradation of existing Mainline-I (ML-I) and establishment of a dry port near Havelian for approval. The second last CDWP of the incumbent government will also consider the construction of 20 small dams in Khyber Pakhtunkhwa, official documents available with The Nation revealed. The major projects of the agenda is up-gradation of Pakistan Railway's existing Mainline-I (ML-I) and establishment of a dry port near Havelian (Phase-I) which will cost Rs451.024 billion. Other projects of transport and communication sector include widening and improvement of road from eastern bypass (Pipi Wala) to Tatliali via Emandabad in Gujranwala.
Power outages due to technical, commercial losses: Lesco
Lahore Electric Supply Company (Lesco) Chief Executive Mujahid Pervaiz Chattah has said that all industrial feeders are being checked to avoid unscheduled load shedding. He said that there are some problems due to load shifting. He said that technical and commercial losses are the reasons of minor power outages . Pervaiz Chattah also announced to establish "Lesco Help Desk" at the LCCI. The announcement was made during a meeting at the LCCI. The Lesco chief also agreed with the LCCI president that mindset of Lesco staff should be changed that would resolve various problems automatically. "Lesco really needs change in mindset and I am doing a lot in this regard along with my dedicated team", he added. To a question, Lesco chief said that depreciation ratio on transformers is 5 percent annually. It is policy of Nepra and Lesco has approached for a reasonable change. He said that system for purchasing of meters has been changed after establishment of Nepra.
Pakistan Poverty Alleviation Fund (PPAF) and the United Nations High Commissioner for Refugees (UNHCR) signed agreement
Pakistan Poverty Alleviation Fund (PPAF) and the United Nations High Commissioner for Refugees (UNHCR) have signed an agreement for jointly taking forward the poverty graduation approach with the ultra-poor/vulnerable poor Afghan refugee population residing in districts Pishin and Swabi of Balochistan and Khyber Pakhtunkhwa provinces respectively. The initiative aims at making an effort to graduate the Afghan refugee population and their host families up the poverty scales and simultaneously providing them with sustainable livelihoods. The Poverty Graduation Pilot for Afghan Refugee Families will help develop the capacities, opportunities, assets and productivity of Afghan refugees and their host families to reduce their vulnerability to shocks, improve their livelihoods and strengthen their business operations. The signing ceremony was attended by UNHCR Representative in Pakistan, Ms Ruvendrini Menikdiwela and Chief Executive Officer PPAF Qazi Azmat Isa along with officials from the two organisations. The collaboration will benefit 2,000 families out of which 70% households would be those residing in settled camps and 30% of households would be that of host families based in the project areas.
Govt asked to raise wages, pensions of workers
Hundreds of electricity and Wapda workers held a rally and procession Wednesday under the aegis of All Pakistan Wapda Hydro Electric Workers Union CBA, expressing a great concern over the impact of rising petrol prices and devaluation of Pakistani rupee against US dollar, which was resulting in price hike essential commodities. It was demanded to the federal and provincial governments to freeze the prices of essential commodities and check the hoarders and profiteers in the wider public interest. The procession was taken out from Bakhtiar Labour Hall Lahore and was led by Khurshid Ahmed, general secretary, who was accompanied by Haji Muhammad Younas Kamboh, Rana Abdul Shakoor, Osama Tariq, Muzaffar Mateen, Haji Lateef, Haji Maqsood, Rana Muhammad Akram and others.
Market is expected to remain volatile therfore its recommended to stay cautious while trading today.

The Benchmark KSE100 is capped by a major resistant trend line on daily chart and during last trading session index had tried to penetrate said trend line by sliding above that line but still not have become able to close above its major resistant region of 45,211 points. For current trading session index have two major resistant regions ahead at 45,211 and 45,500 points and these both regions would try to cap current bullish rally because daily stochastic have changed its trend to bearish mode while MAORSI is trying to generate a bearish crossover. Currently supportive regions are standing at 44,800 and 44,500 points. Its recommended to sell on strength unless index close above 45,500 points.