PSX Daily Market Review - 6th Dec 2018

Trading volume at PSX floor dropped by 57.75 million shares or 29.49% on DoD basis, whereas the Benchmark KSE100 Index opened at 39,607.10, posted a day high of 39,607.10 and a day low of 38,719.62 during last trading session while session suspended at 39,303.11 points with net change of -299.76 points and net trading volume of 87.96 million shares. Daily trading of KSE100 listed companies dropped by 52.59 million shares or 37.42% on DoD basis.
Foreign Investors remained in net buying positions of 4.11 million shares and value of Foreign Inflow dropped by 1.69 million US Dollars. Categorically, Foreign Individuals, Corporate and Overseas Pakistanis Investors remained in net buying positions of 0.11, 1.83 and 2.18 million shares. While on the other side Local Individuals, Local Companies and Insurance Companies remained in net buying positions of 4.08, 2.47 and 4.57 million shares respectively but Banks, NBFCs, Mutual Funds and Brokers remained in net selling positions of 0.18, 0.04, 12.56 and 1.25 million shares.

U.S. stock futures fall, Asia follows after Canada arrests Huawei CFO
U.S. stock futures and Asian shares tumbled on Thursday after Canadian authorities arrested a top executive of Chinese tech giant Huawei for extradition to the United States, fanning fears of a fresh flareup in tensions between the two superpowers. The news came as Washington and Beijing begin three months of negotiations aimed at de-escalating their bruising trade war, which is adding to global investors’ worries over rising U.S. interest rates and other risks to global economic growth.
Swiss SMEs keen to enter Pakistani market: Envoy
The Small and Medium Enterprises (SMEs) of Switzerland are keen to enter Pakistan’s market and explore potential opportunities, said Bernhard Furger, the deputy head of the mission, Embassy of Switzerland. He was visiting the Punjab Board of Investment and Trade (PBIT). Beat Ineichen, Sr. Consultant South Asia & Oceania from Switzerland Global Enterprise, an umbrella organization of Switzerland to promote the Swiss exports and joint ventures of the Swiss companies in other countries accompanied him to discuss investment and trade promotion with Punjab.
PTEA sensitises secy to industrialists’ woes
Federal Secretary Textile Division Syed Iftikhar Hussain Babar has said that the Government is forging export oriented policies to ensure surge in exports. Government have strong believes that the economic revolution can only be possible through trade promotion and all possible support to export sector is being extended to achieve optimum growth.
Pak-India trade can touch $37b mark: WB
The World Bank has noted in its report that trade between Pakistan and India could increase to $37 billion from existing only 2 billion dollars if the two South Asian countries ready to reap the benefits of shared land borders. South Asian countries are yet to reap the benefits of shared land borders, the World Bank report adds. While Pakistan and India collectively represent 88 percent of South Asia’s gross domestic product (GDP), trade between the two countries is only valued at a little over $2 billion. This could be as high as $37 billion, the World Bank said in the report “A Glass Half Full: The Promise of Regional Trade in South Asia”.
Pakistan should pursue clean energy instead of relying on coal, report suggests
Cash-strapped Pakistan should pursue clean energy instead of relying on coal, nuclear and hydroelectric power, according to a report released on Wednesday urging the country's policymakers to rethink plans for building more coal-fired plants. The Institute for Energy Economics and Financial Analysis, Ohio, said coal-fired power, one of the central pillars of Pakistan's energy deals with China, is a costlier and dirtier alternative to wind or solar energy, which China is also supplying but to a lesser degree.

The Benchmark KSE100 Index have tried to bounce back after getting support from a horizontal supportive during last trading session for a correction of massive fall of second last trading session and it’s expected index would remain under pressure until it close above 40,250 points on daily chart, therefore it’s recommended to start selling on strength with strict stop loss of 40,500. Daily and weekly momentum indicators are still on bearish side and it’s expected that intraday momentum would also convert to bearish side in second half if index would not succeed in opening above 39,760 with a positive gap. Market is expected to remain volatile during current trading session therefore it’s recommended to stay cautious and practice swing trading strategy.