Möbius Curve
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JANUARY 1, 2019
Benchmark KSE100 Index traded in pressure for most past of the session on the last day of 2018 to close at 37,067 amidst heightened volatility, down100 points.
An analyst at Trust Securities said the last day of the year remained dull and KSE-100 index again showed the same pressure with less participants in the market and inclination towards economic problems as Finance Minister Asad Umar said that an incoming investment package from Kingdom of Saudi Arabia (KSA), which promises to be “the biggest foreign investment in Pakistan history”, will be announced soon while the repayment of China Pakistan Economic Corridor loans will begin from 2022 with total amount to be repaid is $ 7.457 billion which includes principal of $ 6.035 billion and interest of $ 1.422 billion with an annualized payment of $ 350 million.
Volumes improved 30 percent day-on-day (DoD), standing at 226 million shares for the day. K-Electric gaining 0.3 percent, Sui Southern Gas Company Limited (SSGC) gaining 0.9 percent and United Bank Limited (UBL) losing 4.4 percent, led volumes with 46 million shares changing hands.
Cement sector continued its downward trajectory for third consecutive day where Lucky Cement, Kohat Cement, Pioneer Cement, Maple Leaf Cement (MLCF) and DG Khan Cement lost value to close in the red zone.
Commercial banks witnessed heavy volumes in Monday’s trading session where Bank Alflah Limited (BAFL), UBL and HBL closed in the red zone where MCB and BAHL closed in the green zone. Exploration and Production (E&P) sector closed higher than its previous day close on back of increase in crude oil prices in international market where POL (+2.3%), OGDC (+0.2%) and PPL (+1.3%) were the major movers of the mentioned sector.
An equity analyst expects bearish sentiment in the market to continue on the back of political uncertainty and concerning economic indicators. Also, potential redemptions in Mutual Funds are likely to cause further selling pressure.
Murtaza Jafar, an analyst at Elixir Research said with Monday’s session, Pakistan equities concluded the year posting a decline of 8.4 percent (26.5% in USD). Going into the new year, valuations are undoubtedly attractive; we however expect investors to track news flow on IMF Program along with details of mini budget due in mid-January before reviewing sector allocations.
https://dailytimes.com.pk/339309/pakistan-stocks-end-2018-on-dull-note/
Benchmark KSE100 Index traded in pressure for most past of the session on the last day of 2018 to close at 37,067 amidst heightened volatility, down100 points.
An analyst at Trust Securities said the last day of the year remained dull and KSE-100 index again showed the same pressure with less participants in the market and inclination towards economic problems as Finance Minister Asad Umar said that an incoming investment package from Kingdom of Saudi Arabia (KSA), which promises to be “the biggest foreign investment in Pakistan history”, will be announced soon while the repayment of China Pakistan Economic Corridor loans will begin from 2022 with total amount to be repaid is $ 7.457 billion which includes principal of $ 6.035 billion and interest of $ 1.422 billion with an annualized payment of $ 350 million.
Volumes improved 30 percent day-on-day (DoD), standing at 226 million shares for the day. K-Electric gaining 0.3 percent, Sui Southern Gas Company Limited (SSGC) gaining 0.9 percent and United Bank Limited (UBL) losing 4.4 percent, led volumes with 46 million shares changing hands.
Cement sector continued its downward trajectory for third consecutive day where Lucky Cement, Kohat Cement, Pioneer Cement, Maple Leaf Cement (MLCF) and DG Khan Cement lost value to close in the red zone.
Commercial banks witnessed heavy volumes in Monday’s trading session where Bank Alflah Limited (BAFL), UBL and HBL closed in the red zone where MCB and BAHL closed in the green zone. Exploration and Production (E&P) sector closed higher than its previous day close on back of increase in crude oil prices in international market where POL (+2.3%), OGDC (+0.2%) and PPL (+1.3%) were the major movers of the mentioned sector.
An equity analyst expects bearish sentiment in the market to continue on the back of political uncertainty and concerning economic indicators. Also, potential redemptions in Mutual Funds are likely to cause further selling pressure.
Murtaza Jafar, an analyst at Elixir Research said with Monday’s session, Pakistan equities concluded the year posting a decline of 8.4 percent (26.5% in USD). Going into the new year, valuations are undoubtedly attractive; we however expect investors to track news flow on IMF Program along with details of mini budget due in mid-January before reviewing sector allocations.
https://dailytimes.com.pk/339309/pakistan-stocks-end-2018-on-dull-note/
