Karachi, May 23, 2013 (PPI-OT): KSE-100: Stocks driving index seemingly losing luster! Gaining another 290 points today, the momentum indicator RSI has once again reached recent high of 89.70. According to KASB Securities Limited however, importantly few stocks which drove index level to new highs are gradually losing luster; evident through their intraday behaviour as [...]

Karachi, May 23, 2013 (PPI-OT): Lack of clarity on bond purchase program takes a toll Overall market sentiments weakened on the news that tapering the bond program is gathering more attention. According to KASB Securities Limited FOMC minutes indicated that some officials were open to the idea of tapering the pace of purchase of bonds, [...]

Karachi, May 23, 2013 (PPI-OT): Presidential Ord to be signed for interim tax measures As per latest news, the interim govt is in the process of announcing measures to boost tax revenue by ~PRs152bn with an objective to reduce fiscal deficit. According to KASB Securities Limited these measures include 1% hike in GST, 5% WHT [...]

Karachi, May 23, 2013 (PPI-OT): Bouyed by post-election fervour and strong FPI flows (CYTD: US$283mn), the KSE-100 Index has gained 27%CYTD. According to AKD Securities in view, part of this bullish momentum may also be attributable to emergent expectations of further monetary easing. In this regard, potential arrangement of a deferred oil payment facility from [...]

Karachi, May 23, 2013 (PPI-OT): Bulls Rule Short-Term View: Allied to the bullish theme, benchmark KSE gained 1.37% yesterday to its best levels on a whooping turnover of 372.6mn shares (highest since October 2007). According to AKD Securities expects continuation towards 21,797 21,946 levels, with immediate supports around 21,336 and 20,958 levels. Thrust of impulse [...]

Karachi, May 23, 2013 (PPI-OT): KSE-100 index gained 291 points yesterday to close at 21,458.90 points with 572mn shares being traded. According to Taurus Securities Limited top performers as per index points were PPL, KESC and PSO whereas; top decliners were INDU, DAWH and EFOODS. Activity was mainly concentrated in Construction and Materials, Chemicals and [...]

Karachi, May 22, 2013 (PPI-OT): KSE-100: Relentless momentum gaining stupendously Relentless bull trend takes another leap forward taking out the big figure 21,000 and was aided by exorbitant 71% increase in volume. According to KASB Securities Limited what concerns us is that prevailing rally without a reasonable breather may be prone to counter trend moves [...]

Karachi, May 22, 2013 (PPI-OT): Markets await Fed speech and FOMC minutes due today FOMC member Bullard’s comments regarding continuation of quantitative easing sent speculative wave across markets, which were anticipating potential tapering of bond buying on improved labour markets. As a result, equities advanced with Dow Jones and SandP 500 closing at record highs. [...]

Karachi, May 22, 2013 (PPI-OT): Full Throttle Short-Term View: A breakout gap accompanying strong candle sets continuation towards 21,336 and 21,946 levels. According to AKD Securities thrust of impulse is strong enough to produce further gaps in the sessions ahead (i.e. run-away gap and exhaustion gap). Stay long, aiming for 21,800 21,946 levels (take-profit). Preferred [...]

Karachi, May 22, 2013 (PPI-OT): KSE-100 index gained 354 points yesterday to close at 21,168.00 points with 444mn shares being traded. According to Taurus Securities Limited top performers as per index points were OGDC, FFC and PSO whereas; top decliners were NATF, DAWH and NIB. Activity was mainly concentrated in Construction and Materials, Commercial Banks [...]