Pakistan Stock Exchange Limited Market Position on 09-08-2019

Karachi, August 09, 2019 (PPI-OT): DAILY STOCK MARKET REPORT Market Position Printed On AUG-09-2019 COMPANIES KSE KSE-30 KSE-100 KSE-ALLSHR KMI-30 BATi OGTi PSX-KMI POSITION INDICES INDEX INDEX INDEX INDEX INDEX INDEX INDEX Plus 170 Current 13793.17 29429.07 21767.69 46356.43 11297.68 13525.78 13764.61 Minus 134 Previous 13993.91 29737.98 21871.78 47039.01 11486.32 13900.27 13906.68 Unchanged 17 High […]

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Karachi, August 09, 2019 (PPI-OT): Weekly Review Faltering under mounting macro risks and pressured by significant headline risks, the KSE-100 index continued its FYTD tumble, slipping 7.1%WoW to close at 29,429pts, dropping below the physcological 30K mark after a span of five years. Key news flows during the week included: 1) to avoid US$30mn penalty under Take or Pay mechanism and reduce the volume of demurrages, the GoP has minimized FO and coal based power generation to ensure maximum intake of RLNG, 2) FBR announced that it will not take any adverse action against traders on the condition of provision of CNIC numbers till September 30, countering a major contention held by them, 3) the ECC of the Cabinet on Thursday approved mechanism for payment of subsidy on account of lower gas price of US$6.5/mmbtu to the export industry and ordered to have a proper definition of export oriented sector to avoid misuse of public funds, 4) the National Security Committee on Wednesday decided to downgrade diplomatic ties with India and suspend bilateral trade in response to New Delhi’s move to annex occupied Kashmir, and 5) National Accountability Bureau (NAB) on Wednesday arrested former Finance Minister Miftah Ismail, former Managing Director of Pakistan State Oil (PSO) Sheikh Imran-ul-Haqin, in LNG corruption reference. Volumes during the week averaged 57.85mn gain 1.7%WoW, with volume leaders being: 1) MLCF (28.52mn shares), 2) KEL (22.87mn shares), 3) TRG (16.69mn shares), 4) UNITY (14.99mn shares), 5) ISL (12.40mn shares). Stocks leading the performance board during the week included: 1) DGKC (+5.42WoW), 2) MLCF (+4.76WoW), 3) EFOODS (+2.37WoW), 4) NCL (+1.56WoW), On the flipside, stocks heading lower included: 1) UBL (-14.22WoW), 2) APL (-12.56WoW), 3) HASCOL (-12.42WoW), 4) HMB (-11.87WoW), 5) INDU (-11.55WoW). Outlook We re-affirm out view of period gains remaining highly likely, while a wholesale rally would hinge on a slew of catalysts likely to emerge from: 1) conclusion of the current cycle of monetary tightening seen in early 4QCY20 (Sept’19 MPC expectations can be seen crystalized in 21st Aug’19 PIB auction participation), 2) successful completion of IMF’s second quarterly review (expected during Nov’19) and FATF consultations (expected on Oct’19), and 3) external space emerging from global monetary tightening (softening US$) and weak energy commodity prices.

Karachi, August 09, 2019 (PPI-OT): Light at the end of a long tunnel It will be difficult to achieve IMF’s target of 2.4% GDP growth in FY20, let alone SBP’s target of 3.5%. The latest 100bps rate hike was expected, yet unwarranted. Regardless, we have factored in another 50bps given Govt’s. fiscal deficit financing needs. […]

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AKD Securities Limited Equity Research – Daily Report

Karachi, August 09, 2019 (PPI-OT): Pakistan Strategy: Perfect storm of risks clouds fundamentals Week to date decline of 6.1% cover a period of depressed price performance for stocks, with volumes and returns closely resembling FY08-09, a period of record weakness in equity market performance, highlighting the multi-faceted nature of the prevailing market sell-off. We segment […]

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Special security plan prepared for North Karachi Industrial Area on Eid al-Adha

Karachi, August 09, 2019 (PPI-OT): North Karachi Association of Trade and Industry (NKATI) and Police Department jointly set up a security plan to control robbery and crime incidents during Eid al-Adha in the North Karachi Industrial Area. In which strict measures of security will be put in place, criminals will be monitored. This was decided […]

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PACRA Maintains Entity Ratings To Pakistan Synthetics Limited

Lahore, August 09, 2019 (PPI-OT): Pakistan’s Polyethylene Terephthalate (PET) packaging sector mostly derives its demand from bottled water and carbonated beverage industry, while, edible oil sector has become an upcoming demand driver. The industry use variants of PET Resin to manufacture plastic caps (closures) and PET preforms. During FY18, PET Resin segment generated a total […]

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PACRA Maintains Entity Ratings of M.Y. Bari Mills (Private) Limited

Lahore, August 09, 2019 (PPI-OT):The ratings of M.Y. Bari Mills (Pvt.) Limited (Bari Mills) reflect its improving business profile emanating from growth in revenues and profitability. Bari Mills is a family owned small scale private company operated by a seasoned business family of Karachi. The Company is primarily an export oriented, towel manufacturing concern. Bari […]

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