Market Commentary
KSE-100
concluded the week on a dismal note losing 66 points to close at
22,086. Fears of a withdrawal by the GoP over its earlier decision to
raise power tariff upon possible ruling by the Supreme Court against
that decision led the decline on the bourse.
Key Data
KSE-30 16777.11 -57.77 -0.34%
KSE-100 22085.96 -66.39 -0.3%
USD/PKR 106.32 +0.26 +0.25%
NYMEX Crude Future (USD) 103.38 +0.19 +0.18%
Gold (USD) 1313.2 -2.6 -0.2%
FIPI (USD `000) -87367.57 +1675.91 +1.88%
KIBOR (6 months / %) 9.52% 0 0%
Notable Price Movers
Sym % Chg StDev change
NCPL 4.95 4.09
PIAA 13.55 2.94
FECTC (4.31) 2.44
SNGP 3.25 2.03
ATRL (2.91) 1.85
Notable Shares Traded
Sym Turnover StDev change
NCPL 5,540,000 5.28
NCL 6,253,500 3.72
NETSOL 2,302,500 2.71
TELE 8,587,500 1.50
Top Stories
Þ Weekly inflation hits 9 percent
Þ ‘Remittances expected to reach $15 billion’
Þ Cotton market: prices improve on active demand by mills
Þ Hike in power tariff: cost of production may increase by 21 percent: APTMA chief
Þ Notification withdrawn: Nepra asked to re-determine tariff
Þ Power tariff: Abid says new summary to be sent to Nepra
Þ Pakistan due to produce 14m cotton bales in FY14
Þ FBR raises GST rate to 19% on over 40 items
Þ PSO buys 0.4m tonnes gasoline for Oct-Jan
Þ M2 posts slight decline till Sept 20 in FY14
Þ Cement industry sales register 2% growth in Q1 of FY14
Þ Oil prices rise on Gulf of Mexico shutdown
Þ Banks losing interest in govt papers
Verdict
In
the wake of ruling by the Supreme Court against the hike in power
tariff by the GoP coupled with hike GST over a number of items seems all
set to keep the market volatile over the next session. We advise
investors to remain cautious.
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