10 September, 2013 INVESLINK - Stocks, Technically side 14-D RSI, Stochastic Oscillator and Momentum indicators are raising, supporting a positive view. We recommend investors to view any downside as an opportunity to ‘Buy’, keeping stop loss below 22,451 (Friday’s low). The Support and resistance are at 22,400 and 23,165, respectively. INVESLINK CAPITAL (PVT) LTD NEWS: • Govt wins support for talks with Taliban • Although the ruling PML-N managed on Monday to garner across-the-board support from political parties represented in parliament for talks with militants, the military leadership made it clear that dialogue was possible only with “our people”, and not foreign elements active in tribal areas of the country. Dawn • President Hussain takes oath • Mamnoon Hussain of the PML-N was sworn in on Monday as the 12th elected president of the country in an impressive ceremony attended by political leaders, judges and top brass of the military. Chief Justice Iftikhar Muhammad Chaudhry administered the oath. Dawn • New methodology for five-year plan • Pakistan is likely to replicate the Malaysian government’s ‘Big Fast Results’ (BFR) methodology for the preparation and implementation of next five-year plan (2013-18) and ‘2025 Perspective Plan’. Dawn • Rupee fall not outcome of IMF deal: Dar • Finance Minister Ishaq Dar has squarely rejected the notions that the depreciation of Pakistani currency is a result of some implicit understanding between the government and the International Monetary Fund (IMF). Dawn • IDB offers $850m • The Islamic Development Bank (IDB) on Monday offered to extend $850 million fresh project assistance to Pakistan over the next three years, according to Finance Minister Ishaq Dar. Dawn • $245m loan for power sector • The Asian Development Bank signed a loan agreement with the government here on Monday to invest $245 million to improve the country’s power distribution systems. Dawn • $6.6 billion facility: IMF's approval is credit positive: Moody’s • Last Wednesday, the International Monetary Fund’s executive board approved $6.6 billion of financial assistance to Pakistan (Caa1 negative) under a three-year Extended Fund Facility (EFF), slightly larger than the staff-level agreement of $5.3 billion made in July. The IMF's approval of assistance is credit positive because it allows Pakistan to avert a looming balance-of-payments crisis and provides incentives for the government to implement structural reforms to boost growth, according to extracts from "Moody’s Credit Outlook," Monday, September 9 issue. BR Forex/ Arab Light crude oil (barrel) Gold (Ounce) PKR / US$ 104.68 Gold ($) 1378.00 Oil(WTI) 108.29 Regards, Azhar Hussain
Posted on: Tue, 10 Sep 2013 07:59:50 +0000
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