PSX Daily Market Review - 31 March 2017

The Bench Mark KSE100 Index Opened at 48375.63, posted a day high of 48504.40 and a day low of 47820.31 during last trading session whereas session suspended at 47949.33  with a net change of -426.30 points and net trading volume of 104.27 million shares. Daily trading volume of KSE100 listed companies increased by 10.62 million shares or 11.34% on DoD basis.
Foreign Investors remained in net selling position of 0.16 million shares and net value of Foreign Inflow dropped by 0.98 million US Dollars. Categorically Foreign individuals and Overseas Pakistanis remained in net selling position of 0.047 and 0.37 million shares but Foreign Corporate Investors remained in net buying position of 0.26 million shares. On the other side Local Individuals, Companies and Mutual funds remained in net buying position of 1.78, 2.62 and 1.12 million shares respectively but Local Banks and Brokers remained in net selling position of 3.58 and 2.18 million shares.

Asian shares were mixed and the dollar extended its overnight gains on Friday on signs of strong U.S. economic growth, while the euro inched up after sliding overnight on data suggesting slowing growth in Europe. MSCI broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS retreated 0.15 percent, as investors balanced positions on the last day of the month and quarter. The benchmark is up almost 13 percent for the quarter. Chinese CSI 300 index .CSI300 added 0.25 percent, putting it on track for a 4.1 percent quarterly rise. Activity in Chinese manufacturing sector expanded to 51.8 in March, an official survey showed, beating expectations for 51.6. The services sector rose to 55.1 from 54.2 in February. The 50-point mark separates growth from contraction. The data comes as U.S. President Donald Trump foreshadowed a tense meeting with Chinese President Xi Jinping next week by tweeting on Thursday that the United States could no longer tolerate massive trade deficits and job losses.
The Wor­ld Bank will provide $433 million to Pakistan under three separate hea­ds to support the financial sector, social protection and community development. The agreements were formally signed on Thu­rsday. Secretary Econo­mic Affairs Division Tariq Mahmood Pasha signed the Loans and Grants Agreements on behalf of government. Project agreements were signed by the representatives of Khyber Pakhtu­nkhwa government and Fata Secretariat. Acting Country Director Anth­ony Cholst signed the agreements on behalf of the World Bank. Mr Cholst said the agreements would stren­gthen the financial sector, bring about improvements in the income support program and contribute to economic development in KP and FATA.
Prime Minister Nawaz Sharif has approved the establishment of a national single window (NSW) for managing Pakistan external trade, a senior official told Dawn on Thursday. The premier took the decision to take away the power of managing trade from the Ministry of Commerce following informal consultation with internal and external experts. The official said the decision was taken after complaints about cumbersome import/export procedures involving numerous government entities. The Customs are going to be the lead agency in the NSW. They have already made in-house preparations to take over the regulation of external trade.
The Oil and Gas Regulatory Authority (Ogra) on Thursday worked out a substantial increase in the prices of all petroleum products for a month with effect from April 1. In a summary sent to the government, Ogra recommended 2.74 per cent increase in the price of high-speed diesel (HSD), 2.44pc in petrol, 29.6pc in kerosene and 17.6pc in light diesel oil (LDO). Based on existing tax rates and import cost, the regulator calculated an increase of Rs2 per litre in ex-depot price of petrol to Rs75 a litre from the existing rate of Rs73. Likewise, it worked out an increase of Rs2 per litre in the ex-depot price of HSD at Rs84 a litre compared to the current rate of Rs82.
The Securities and Exchange Commission of Pakistan (SECP) has established an Anti-Money Laundering (AML) Cell to effectively address any potential of money laundering. According to a press statement issued by the SECP here on Thursday, “In line with the present government’s agenda of combating money laundering and terrorist financing activities, the SECP has established an Anti-Money Laundering (AML) Cell to effectively address any potential of money laundering within the capital markets, insurance, the NBFCs and the not-for-profit corporate sector.” The SECP has approved thresholds for various sectors for reporting of investments made in securities markets, the NBFCs and the insurance sector. The AML cell comprises of senior SECP officers from each supervisory area.

Today market is expected to remain volatile again, Traders are advised to exercise caution, Take profit on higher levels and buy on dips.

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