PSX Daily Market Review - 6th Nov 2019

Trading volume at PSX floor increased by 100.70 million shares or 48.46% on DoD basis, whereas the benchmark KSE100 index opened at 35,277.46, posted a day high of 35,608.77 and a day low of 35,243.22 points during last trading session while session suspended at 35,358.31 points with net change of 80.85 points and net trading volume of 169.45 million shares. Daily trading volume of KSE100 listed companies increased by 31.25 million shares or 22.62% on DoD basis.
Foreign Investors remained in net selling positions of 9.01 million shares and net value of Foreign Inflow dropped by 1.51 million US Dollars. Categorically, Foreign Individuals, Corporate and Overseas Pakistanis investors remained in net selling positions of 0.19, 8.78 and 0.04 million shares. While on the other side Local Individuals, Banks. NBFCs and Insurance Companies remained in net selling positions of 1.87, 2.24, 0.02 and 0.59 million shares respectively but Local Companies, Mutual Fund and Brokers remained in net buying positions of 8.47, 4.33 and 0.93 million shares respectively.

Stocks grind lower as markets await clues on trade talks
sian shares pulled back slightly on Wednesday as investors awaited new developments toward scaling back a bruising trade war between the United States and China. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS eased 0.11%. Australian shares were down 0.09%, Chinese stocks .CSI300 drifted 0.08% lower while Japan's Nikkei stock index .N225 tacked on 0.2%. Treasury yields fell slightly in Asia and crude oil futures also dipped as investors took a breather as U.S. and Chinese negotiators continued their efforts to seal a preliminary trade deal. The world’s two biggest economies have signaled they are pushing hard for a ‘phase one’ trade agreement, possibly some time this month.
Pakistan seeks $9bn Chinese loan for ML-1, commits to border fencing
Committing complete fencing of Afghan and Iran borders on priority to ensure peace and security, Pakistan on Tuesday asked China to finance $9 billion Main Railway Line (ML-1) and other road and infrastructure projects to expand the China-Pakistan Economic Corridor (CPEC). At the conclusion of ninth Joint Cooperation Committee (JCC) meeting of CPEC here, the two sides also approved Gwadar Smart City Master Plan and signed two memorandums of understanding (MoUs) for cooperation in the field of health and trade. They also signed minutes of the meeting and inaugurated 392km Multan-Sukkur Motorway completed with Chinese funding of Rs294bn.
Economic indicators show previously ailing economy now on path of growth: Hammad Azhar
Federal Minister of Economic Affairs Hammad Azhar on Tuesday said the PTI government had not only uplifted the ailing economy but also virtually put it on a path of growth as clearly shown by various economic indicators. Addressing a press conference in Islamabad, he said the economy had started picking up as economic indicators including investment inflows, foreign exchange reserves, revenue collection, current account balance, trade balance, ease of doing business, Public Sector Development Programme spending, Stock Exchange performance and inflation were showing positive developments. Giving a break-up of the performance of various economic indicators, he said the current account deficit in dollar terms came down by 64 per cent during the first quarter of the current fiscal year compared to a reduction by 32pc during the corresponding period of last year.
Nepra okays Rs1.83 per unit increase in electricity tariff
The National Electric Power Regulatory Authority (Nepra) on Tuesday allowed Rs1.83 per unit increase in electricity tariff under monthly fuel adjustment for electricity consumed in September to generate Rs24 billion revenue to ex-Wapda distribution companies (Discos). The decision was taken at a public hearing presided over by regulator’s member Punjab Saifullah Chattha and attended by member Balochistan Rehmatullah Baloch. The additional fuel cost would be charged to consumers in the coming billing month i.e. December. The increase is not applicable to K-Electric and lifeline consumers using less than 50 units of other Discos.
LCCI establishes facilitation desk for members to deal with govt departments
Lahore Chamber of Commerce & Industry (LCCI) has established a state-of-the-art facilitation centre to address complaints related to various government departments. LCCI President Irfan Iqbal Sheikh inaugurated the center along with Senior Vice President Ali Hussam Asghar and Vice President Mian Zahid Jawaid Ahmed. Former LCCI President Mohammad Ali Mian, former Vice Presidents Kashif Anwar & Zeeshan Khalil, LCCI Executive Committee members Haji Asif Saher, Ch Khadim Hussain, Haris Attiq, Sheikh Sajjad Afzal and other were also present.