Daily Briefing: Expect a round of profit taking with the overall sentiment being +ve. According to the National Clearing Co. of Pak net foreign inflow on Nov17 was recorded at US$ 1.28mn. Banks & DFIs net sell was US$ 1.76mn while mutual fund net inflow clocked in at US$ 5.79mn (-) Drug Regulatory Authority of Pak & the Pharma sector are expected to finalize the drug pricing policy today (+) According to sources Pak State Oil (PSO) has asked the national carrier Pak International Airlines (PIAA) to clear PKR 12.1bn outstanding dues (-) Foreign Direct Investment during 4moFY15 rises 47% to US$ 424mn vs. US$ 288mn during the same period last year (+) Technical View: Market registered a sharp recovery yesterday to challenge the dark cloud cover resistance around 31,855 - 31,894 levels amid overbought daily RSI readings. Ability to hold 31,616 level today may keep the index striving towards 31,831 and 31,964 levels. On the downside, a relapse towards 31,570 level would put a ceiling for weakness towards 31,449 and 31,252 levels. Lock profits on strength! 13-day Leaders: MARI, JSCL, ARPL, EFUL, EFUG, HUMNL, GATM, ENGRO, PIOC & MUREB. 13-day Laggards: ARM, ATRL, SNBL, RMPL, FML, POL, JDWS, BATA, ABL & PACE.
Posted on: Tue, 18 Nov 2014 04:17:16 +0000
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