Market and Index Review-RSL Securities Limited
Karachi, September 17, 2013 (PPI-OT): MARKET TODAY
On Monday the first day of the week market opened in a mixed direction. After the initial pressure market showed a bullish trend.
According to RSL Securities Limited the highest level of the market was at 23,323.72 points. By the mid of the session market showed some pressure and took support near the level of 23,130 points. Near the end of the session market showed some recovery and closed at the level of 23,242.68 points about a gain of 74.64 points. Volumes were 242 million shares.
Today market looks to have a positive and upward side trend. However the support is near the level of 23,150 points. The 23,400 is the resistance level.
MARKET HIGHLIGHTS: KSE-100 Index Volume 196,398,300 KSE-100 Index 23,242.68 Net Change 74.64 Gainers 142 Lossers 157 Equal 57 Total 356 TOP FIVE VOLUME LEADERS SCRIPS PRICE ∆ IN PRICE VOLUME BOP 13.09 0.40 42,203,500 MLCF 26.28 0.51 20,954,000 FCCL 14.06 0.50 19,400,500 BAFL 22.44 0.90 14,310,500 DGKC 77.40 (0.15) 12,854,000 TOP FIVE FUTURE SCRIPS VOLUMEWISE SCRIPS PRICE ∆ IN PRICE NO. OF CONT. BOP-SEP 13.13 0.39 15,746 FCCL-SEP 12.91 (0.13) 7,608 DGKC-SEP 77.50 (0.59) 7,334 NBP-SEP 52.77 2.51 3,962 ENGEO-SEP 146.15 (2.95) 3,668 FIPI Gross Buy Gross Sell Net Buy/(Sell) 16-Sep 387,526,612 (440,440,167) (52,913,554) Sep 1 to Date 5,706,774,516 (5,662,896,141) 43,878,372 Aug-13 13,586,102,649 (10,836,967,085) 2,749,135,559 Jan 1 to Date 147,726,289,071 (116,097,244,321) 31,629,044,711
Daily News Summary
In the interbank market the rupee depreciated against the dollar by 4.5 percent in the financial year 2012-13, while it fell 1.0 percent till September 10 in the financial year 2013-14, reflecting a total depreciation of 5.5 percent to reach Rs 104.8 per dollar. The rupee depreciated in the interbank market against the euro, pound and Japanese yen by 6.9 percent, 4.7 percent and 5.5 percent, respectively in July 1 to September 10, 2013 in FY14.
The country’s Large Scale Manufacturing (LSM) has registered positive growth of 3.71 percent during the first month of the current fiscal year 2013-14 as compared to the corresponding month of last year. The Quantum Index Numbers (QIN) of LSM stood at 110.44 points during July 2013 against 106.49 points during July 2012, according to the latest data of Pakistan Bureau of Statistics (PBS).
The spokesman of the Oil Companies Advisory Committee (OCAC) on Monday said that the impression that refineries have already started charging additional duty and are fleecing that amount is absolutely incorrect. The Economic Coordination Committee’s (ECC) decision on future enhancement of deemed duty by 1.5 percent only on high speed diesel is conditional with completion of Diesel Hydrodesulphurisation (DHDS) Project and not effective immediately.
Pakistan on Monday signed a resolution to import 1,300 megawatts (MW) electricity from Kyrgyz Republic and Tajikistan to overcome power shortage in summer season. The resolution was signed by the four countries including Pakistan, Afghanistan, Tajikistan and Kyrgyz Republic in the two-day meeting of the inter-governmental council of central Asia South Asia (CASA) transmission and trade project started here.