PSX Daily Market Review - 7th Sep 2018

Trading volume at PSX floor increased by 32.75 million shares or 25.80% on DoD basis during last trading session, whereas the benchmark KSE100 Index opened at 41,609.97, posted a day high of 41,708.41 and a day low of 41,224.83 during last trading session. The session suspended at 41,266.39 with net change of -354.57 and net trading volume of 97.34 million shares. Daily trading volume of KSE100 listed companies increased by 26.89 million shares or 38.16% on DoD basis.
Foreign Investors remain in net buying positions of 3.89 million shares but net value of Foreign Inflow dropped by 0.15 million US Dollars. Categorically Foreign Individuals and Corporate remained in net buying positions of 0.03 and 4.40 million shares but Overseas Pakistanis investors remained in net selling positions of 0.53 million shares. While on the other side Local Individuals, Banks, NBFCs, Mutual Fund and Insurance Companies remained in net buying positions of 0.49, 0.95, 0.14, 15.98 and 8.92 million shares respectively but Local Companies, and Brokers remained in net selling positions of 12.43 and 18.68 million shares.

Asia shares worn down by trade tension, yen a safe harbor
Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech-heavy region. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.4 percent, having earlier reached its lowest since mid-July last year. The Nikkei shed 1 percent, undermined by a rising yen and reports U.S. President Donald Trump could be contemplating taking on Japan over trade. Chinese blue chips managed a 0.8 percent bounce as beaten-down health care stocks found buyers after taking a savaging in recent months amid vaccine scandals.
Minister briefed on Gwadar Smart Port City Master Plan
Minister for Planning, Development & Reforms (PD&R), Makhdoom Khusro Bakhtiar Thursday presided over a steering committee meeting on Gwadar Smart Port City Master Plan here. Secretary Planning, Development & Reforms Zafar Hasan, Project Director CPEC, Hassan Daud and officials from Government of Balochistan, Ministry of Maritime Affairs, Gwadar Development Authority, Gwadar Port Authority, Ministry of Defence, Ministry of Economic Affairs Division, Ministry of Climate Change, Board of Investment, and Chinese companies attended the meeting.
Export of transport services rises 5.7pc in one year
Export of transport services by Pakistan in other countries increased by 5.74 percent during the financial year 2017-18 compared to last year, Pakistan Bureau of Statistics (PBS) reported. Pakistan exported transport services worth $977.470 million in July-June (2017-18) against the exports of worth $924.371 million in July-May (2016-17), showing 5.74 percent growth, according to data of Pakistan Bureau of Statistics (PBS). Among these, the air transport services export increased by 7 percent and reached $898.590 million during the period under review against $839.790 million last year.
New laws for ease of doing business formulated
The Board of Investment (BoI) has formulated the new laws for ease of doing business to provide conducive business environment to local and foreign investors in the country. The Board has introduced E- filling system and also shortened the new companies' registration process for facilitating the investors," a senior official of BoI told APP here. He said that BoI had made digital the visa process for foreign investors and now they could apply online for business visa from anywhere and they would be responded in very short period of time. The duration of visa process had now been reduced from six months to few weeks subject to the verification from different agencies, he added.
Seed certification, registration to be enhanced>
In order to ensure the supply of registered and certified quality seeds of all major crops, vegetables and fruit orchards, the Federal Seed Certification and Registration Department will revitalize and revamp the department to enhance its capacities to provide registered and certified seeds to farmers to increase per acre crop yield in the country. Currently, about 30 percent of the total requirements of certified seeds of all major crops including wheat, rice, cotton and maize were available to the farming community, said an official in the Federal Seed Certification and Registration Department.He said that the Federal Seed Certification was an attached department of the Ministry of National Food Security and Research, which was mandated to ensure availability of quality seeds supply to the farmers.

The Benchmark KSE100 Index have succeeded in sliding below its major supportive region of 41,560 points during last trading session but have not succeeded in penetrating it’s weekly low of 41,192 points. As of now index have strong supports before 41,000 points initially first at 41,192 points which falls on daily double bottom while the second one stands at 41,100 points which falls on 61.8% correction of its bullish rally which was started from 38,561.31 and ended up at 43,638.86 points. Daily Bollinger band is being expanded with bearish momentum and it’s expected that index would entertain its supportive region of 40,960 points with full zeal and gust because it falls on crossover of a horizontal and a supportive trend line. Therefore it’s recommended to start buying on dip on dip above 40,960 with strict stop loss of 40,500 points. Hourly momentum indicators are being ready for a bullish crossover and it indicates that index would try to take a spike in second half of current trading session.