PSX Daily Market Review 30 Nov. 2016

The Bench Mark KSE100 Index Opened at 43060.71, posted day high of 43297.41 and day low 42772.56 during last trading session. The session suspended at 42811.27 points with net change of -249.44 points and trading volume of 174.78 million shares. Daily trading volume of KSE100 listed companies increased by 83.03 million shares or 90.5% on DOD bases.
Foreign Investors remained in net selling position of 22.04 million shares and net value of Foreign Inflow dropped by 11.43 million US Dollars. Categorically, Foreign Individuals and Overseas Pakistanis remained in net buying position of 0.05 and 0.29 million shares respectively but Foreign Corporate Investors remained in net selling position of 22.38 million shares. While on the other side, Local Individuals, Companies and Mutual Funds remained in net buying position of 21.07, 1.15 and 13.55 milllion shares respectively but Local Banks and Brokers remained in net selling position of 4.72 and 9.94 million shares respectively.

Asian stocks edged higher on Wednesday reflecting upbeat U.S. growth news while oil steadied after a sharp drop overnight as OPEC struggled to agree on a glut-draining production cut. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.1 percent in early trades. It is poised to post a second consecutive monthly loss. Early action in Asian stocks was just as guarded with Australia down 0.16 percent , the Nikkei .N225 flat and South Korea .KS11 up 0.2 percent.
The Oil and Gas Regulatory Authority (OGRA) has recommended up to Rs 5.42 per litre increase in the prices of petroleum products, effective from December 1. According to a summary forwarded to the Ministry of Petroleum and Ministry of Finance, the regulator after calculating monthly impact of the crude import has suggested the government to increase high speed diesel (HSD) prices by Rs 5.42 per litre from current level of Rs 72.52 per litre to Rs 77.94 per litre.
National Electric Power Regulatory Authority (Nepra) has allowed Karachi Electric (K-E) to increase power tariff by 48 paisa per unit for October 2016 under the monthly fuel price adjustment mechanism. The decision was taken at a public hearing presided over by Chairman Nepra Brigadier Tariq Saddozai (retired). An increase in tariff will not be applicable on consumers who use 50 units a month.
Pakistan has reportedly agreed on the resolution of a dispute on 330 MW Kishanganga and 850 MW Ratle hydroelectric projects through mediation instead of Court of Arbitration (CoA), a stance earlier proudly claimed by the Ministry of Water and Power. A Pakistani delegation headed by Secretary Water and Power Younus Dagha recently visited Washington and held meetings with the World Bank officials with respect to finalisation of a mechanism to settle disputes on both hydroelectric dams.
Local auto vendors are willing to start development of parts for tanks and aircraft manufacturing. Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) Chairman Mashood Ali Khan in a recent meeting with senior officials of Heavy Industries Taxila (HIT) informed them that many of their member companies are matured to work for the aerospace sector and expected to play their role in aircraft manufacturing and maintenance.

^{To Open picture in original resolution right click image and then click open image in a new tab}