KSE Market Summary

Market Commentary

KSE-100 Index ended on a mildly positive note gaining 18 points to close at 21,675 after witnessing a midday drop of nearly 200 points. Value buying from FFC, UBL, PTC and ENGRO helped the market end in green. 

Key Data

KSE-30 16439.94 +20.62 +0.13%

KSE-100 21674.98 +17.76 +0.08%

USD/PKR 106.19 -0.11 -0.1%

NYMEX Crude Future (USD) 102.74 +1.07 +1.05%

Gold (USD) 1292.2 -11.5 -0.88%

FIPI (USD `000) -84225.68 +2008.58 +2.33%

KIBOR (6 months / %) 9.55% +0.01 +0.1%

Notable Price Movers

Sym                 % Chg             StDev change

TELE                       10.40                     2.96

KAPCO                   (2.04)                     2.04

NETSOL                   3.30                      1.84

Notable Shares Traded

Sym                 Turnover         StDev change

NCPL                   3,949,000                    3.77

NPL                      2,183,500                    2.93

MARI                       655,100                    1.51

Top Stories

• World Bank report: Economy resilient, growth to remain steady at 3.5%
• Shutdown impact: US stops offering GSP scheme to exporters
• Earnings dip: Banking sector’s profits may fall as spreads shrink
• Trade imbalance: Deficit in line with IMF trade projections
• PTA issues RFP to hire consultants for 3G auction
• Trade deficit shrinks by 5.15pc in Q1 of FY14
• First quarter of FY14 : Workers’ remittances rise over 9pc to $3.9 billion
• Oil rises to $110 on return of Libyan supply worry
• PM approves issuance of 3G licenses for 15-year term
• Energy sector: circular debt again peaks to Rs 157 billion

Verdict

With news of circular debt relapsing to the tune of PKR 157 billion we expect IPPs and PSO to fall under pressure. However, upward growth forecast of the Pakistani economy by the World Bank could fuel some positivity.