PSX Daily Market Review - 4th May 2017

Trading volumes on PSX floor increased by 61.23 million shares or 30.77%, DoD basis. Whereas, the KSE100 index opened at 48723.98 with a gap of 34.56 points, posted a day high of 48929.54 and a day low of 48490.43 during the last trading session. Moreover, the session suspended at 48605.14 with a net change of -84.28 points and a net trading volume of 134.9 million shares. Daily trading volume of KSE100 listed companies increased by 46.83 million shares or 53.17%, DoD basis.
Foreign Investors remained in a net selling position of 26.27 million shares and the net value of Foreign Inflow dropped by 2.92 million US Dollars. Categorically, Foreign Individuals remained in a net buying  position of 0.17 million shares but Foreign Corporate and Overseas Pakistani Investors remained in net selling positions of 26.15 and 0.29 million shares, respectively. While on the other side, Local Individuals, Companies and Mutual Funds remained in net buying positions of 8.13, 18.66 and 5.17 million shares but Local Banks and Brokers remained in net selling positions of 0.33 and 4.95 million shares, respectively.

Engro’s subsidiary seeks nominal tariff for RLNG plant. Kolachi Portgen (Private) Limited has approached the National Electric Power Regulatory Authority (Nepra), seeking a levelised tariff of Rs7.095/kWh for its re-gasified liquid natural gas (RLNG)-based 450MW plant being setup at Port Qasim, a document showed. The estimated cost of the subject RLNG/HSD generation plant is $392.4 million. The company has sought a tariff of Rs11.471/kWh when the plant would operate on high speed diesel (HSD).
ADB is to provide $1.055 billion financing for nine projects. The Asian Development Bank will provide financing, including loans and grants worth $1,055 million for nine projects in Pakistan, particularly in water and irrigation sectors during 2017/19. Nine projects in the four provinces - Balochistan, Punjab, Sindh and KP will be financed by the bank after approval during the years 2017/19, sources at the Asian Development Bank said on Wednesday on the eve of 50th annual meeting of its board of governors, scheduled for May 4 to 7.
Govt considers regulating real estate sector. The government is considering to regulate the real estate sector to bring a property investment into formal economy, which has an estimated size of around Rs7 trillion. Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi informed the Senate Standing Committee on Finance that the government has proposed to regulate the real estate market of the country in the Companies Bill 2017. He further said that it is necessary to bring property sector into formal economy.

Today ATRL,PSO, TRG and LOTCHEM can lead the market in the positive direction.

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