Market and Index Review-MARKET TODAY – RSL Securities Limited

Karachi, July 31, 2013 (PPI-OT): On Tuesday market opened in a positive direction. The resistance level of the market was at 23,467.09 points.

According to RSL Securities Limited from there market showed a consistent downward side pressure. The first support was seen near the level of 23,265 points and the lowest level of the market was at 23,128.31 points. By the mid of the session market again showed some recovery and closed at the level of 23,284.81 points about a decline of 30.34 points. Volumes were 202 million shares.

Today market looks to have a mixed and consolidated trend. The resistance is near 23,400 points and support near 23,200 points.

MARKET HIGHLIGHTS:

KSE-100 Index Volume     143,353,810 
KSE-100 Index              23,284.81 
Net Change                   (30.34) 
Gainers                          127
Lossers                          162
Equal                             36
Total                            345

TOP FIVE VOLUME LEADERS
SCRIPS     PRICE     ∆ IN PRICE      VOLUME
FCCL       16.17       (0.66)       34,205,000 
MLCF       30.62       (0.39)       17,459,000 
NBP        57.97        2.76        16,954,000 
BOP        13.63        0.24        12,671,000 
LPCL       10.32       (0.42)        5,689,500 

TOP FIVE FUTURE SCRIPS VOLUMEWISE
SCRIPS        PRICE    ∆ IN PRICE   NO. OF CONT.
NBP-AUG        58.81     2.68         17,772 
FCCL-AUG       16.39    (0.67)        14,528 
DGKC-AUG       93.36     0.22          4,015 
ENGRO-AUG     166.29     1.55          3,940 
EFOODS-AUG    144.14    (5.26)         3,286 
FIPI                  Gross Buy           Gross Sell       Net Buy/(Sell)
29-Jul              297,798,502          (412,827,910)      (115,029,408) 
July 1 to Date       16,672,592,565   (28,227,118,822)   (11,554,526,263) 
Jun-13               17,123,861,557   (13,023,244,261)      4,100,617,290 
Jan 1 to Date       127,208,777,303   (98,446,019,257)     28,762,758,015 

Daily News Summary

Taking serious notice of misuse of duty-free import of gold scheme, the Economic Coordination Committee of the Cabinet (ECC) here on Tuesday imposed a ban on import of gold in the country for the next 30 days. The ban was imposed during a meeting of the ECC held under the chairmanship of Finance Minister Ishaq Dar at the Prime Minister’s Office.

In compliance to the directions of the Economic Coordination Committee of the Cabinet (ECC), the Ministry of Planning and Development submitted a report on the reasons and causes in the cost escalation in different components of the Nandipur Combined Cycle Project, which was now estimated to cost Rs 58.4 billion. The report was submitted during a meeting of the ECC held under the chairmanship of Finance Minister Ishaq Dar at the Prime Minister’s Office on Tuesday.

The gold imports during fiscal year 2012-13 surged by 101.69 percent as against the same period of last year. According to data revealed by Pakistan Bureau of Statistics (PBS), during the period under review, 6,745 kilogramme (kg) of yellow metal worth of $346.255 million was imported as compared to the import of 3,267 kg valuing $171.674 million during the year 2011-12.

China Power Investment Corporation (CPI Group) said it was interested to invest in 4 power projects in Pakistan. Zhiyig Wang Vice President of CPI Group along with 15 delegates talking to Mohammad Zubair Chairman Board of Investment (BoI) said CPI is one of the five largest state-owned electricity producers in China and integrating industries of coal, power, aluminium railway and port. It supplies 10 percent of the power supply to the country and installed 80,074 megawatts (MW) by the end of 2012