PSX Daily Market Review - 5th April 2019

Trading volume at PSX floor dropped by 25.31 million shares or 16.51% on DoD basis, whereas the benchmark KSE100 index opened at 38,037.79, posted a day high of 38,042.60 and a day low of 37,413.09 points during last trading session while session suspended at 37,516.11 with net change of -506.69 points and net trading volume of 63.15million shares. Daily trading volume of KSE100 listed companies increased by 0.15 million shares or 0.24% on DoD basis.
Foreign Investors remained in net selling positions of 1.22 million shares and net value of foreign inflow dropped by 0.75 US Dollars. Categorically, Foreign Individuals and Overseas Pakistanis remained in net buying positions of 0.06 and 2.04 million shares but Foreign Corporate investors remained in net selling positions of 3.31 million shares. While on the other side Local Companies, Banks and Mutual Fund remained in net buying positions of 12.30, 3.61 and 1.98 million shares respectively but Local Individuals, NBFCs, Brokers and Insurance Companies remained in net selling positions of 9.20, 2.18, 0.56 and 4.32 million shares respectively.

Asia shares hug weekly gains, wait on U.S. jobs test
Asian share markets consolidated their weekly gains on Friday as Sino-U.S. talks produced a lot of headlines but no conclusions, while caution ahead of U.S. payrolls and a holiday in China dampened volatility. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 percent but was only just off its highest since the end of August. The index was still up 1.8 percent for the week and 13 percent for the year so far. Japan’s Nikkei added 0.3 percent, to be 2.8 percent firmer for the week. E-Mini futures for the S&P 500 edged up 0.1 percent.
Chinese companies ink agreement to invest in textile sector
Recognising Pakistan’s potential as the world’s 4th largest cotton producer, Chinese investors have signed a cooperation framework agreement with government of Punjab. Chinese investors appreciated Pakistan’s textile and textile value addition sector and shown interest in investing in the Punjab. In this regard, a four party cooperation framework agreement was signed between China Railway 20 Co. Pakistan (pvt) Limited, Shanghai Yuanyi Industry Company Limited, Pak-China Investment Company Limited and Punjab Board of Investment and Trade (PBIT).
Unilever partners with doctHERs
Unilever Pakistan has partnered with doctHERs to implement a gender-inclusive, technology-enabled healthcare solution across rural Pakistan. The project, titled ‘Sukh Saheli’, will use the widespread reach of Unilever’s rural retail program to deliver high-quality health and wellness services for 1 million women across rural Pakistan in 2019. Frontline health workers will mobilize underserved communities in over 4000 villages and connect them to qualified, female doctors via telemedicine, HD video-consultation and digital, diagnostic tools. The collaboration is being supported by TRANSFORM, a joint-initiative between Unilever and the UK’s Department for International Development (DFID) to support business models and behaviour change interventions to deliver market-based solutions for low-income household needs.
Domestic cement dispatches decline by 6.7pc in March
Cement sector, sitting on huge unutilized capacities, continued to suffer from lack of domestic demand due to slow growth, lower development spending and delay in launch of government’s ambitious low cost housing scheme. Cement consumption is usually at its peak in the month of March as construction activities peak due to pleasant weather and urgency in completing government’s development works within the financial year, however, total dispatches in March 2019 declined by 6.7 percent to 4.340 million tons from 4.652 million tons in March 2018.
Azhar hits back at Dar, questions former finance minister's right to critique 'self-made crisis'
Minister of State for Revenue Hammad Azhar on Thursday hit back at former finance minister Ishaq Dar's criticism of the Pakistan Tehreek-i-Insaf government, questioning the absconding PML-N leader's right to point fingers at the state of the economy when the financial crisis the country is currently mired in "was a result of his own policies". "There are [corruption] allegations against him (Dar)," said Azhar during a speech in Islamabad. "He did not surrender himself to the courts as per the law of Pakistan. And he is directly responsible for the economic mess we are in. Yet he still [has the audacity] to come on TV and ask that the 'contract' — because that's how his brain works — of this economy be handed to him."

The Benchmark KSE100 index have touched a rising supportive trend line once again and got support from crossover of said trend line along with a horizontal supportive region during last trading session. It’s expected that index would try to open with a negative gap during current trading session below said trend line but an intraday recovery is insight after a dip below 37,500 points. It’s expect that index would try to bounce back before 37,000 points during current bearish rally and it would try to give a weekly closing after a pullback therefore its recommended to start buying on dip with strict stop loss during current trading session.