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Karachi, June 20, 2013 (PPI-OT): Short‐Term View: In a follow through of recovery from the 50 percent retracement of 20,917 to 22,881 ascent at 21,899 level, index can stride towards 22,449 — 22,484 levels. According to AKD Securities, attainment of said range would confirm a short-term base in 22,043 — …
Read More »AKD Quotidian about — Seeking A Recovery At Completion Of 50% Retracement
Karachi, June 19, 2013 (PPI-OT): Short‐Term View: Benchmark KSE interrupted immediate uptrend below 22,100 level yesterday, and eventually retraced 50 percent of 20,917 to 22,881 ascent at 21,899 level —coinciding with the 21‐day average (21,893). This minute correction led largely by OGDC and MCB has eased the 14‐day RSI to …
Read More »AKD Quotidian about — Cotton Update: June 2013
Karachi, June 17, 2013 (PPI-OT): USDA released its monthly cotton report on Wednesday, Jun 12’13. According to AKD Securities key takeaways from the report were downward revision in import expectations from China by I mn bales due to lower world exportable supplies and the downward revision of production estimates by …
Read More »AKD Quotidian about — Autos: May’13 sales review and Budget FY14 update
Karachi, June 14, 2013 (PPI-OT): PAMA earlier this week released auto sales numbers for IIMFYI3. According to the released data, volumes for auto sales (Cars + LCVs) for IIMFYI3 clocked in at 121.6k units, down by 24%YoY. According to AKD Securities for May’13. sales were up by an impressive 1O.7%MoM …
Read More »AKD Quotidian about — A relatively focused Budget!
Karachi, June 13, 2013 (PPI-OT): Considering limited preparation time, the PML-N government’s FY14 Budget, delivered by Finance Minister Ishaq Oar comes across as focused on pushing through energy reforms (circular debt stock to be eliminated in 60 days) and reviving the privatization program with a view to curbing the fiscal …
Read More »AKD Quotidian about — Weight gain for Pakistan in MSCI FM Index!
Karachi, June 12, 2013 (PPI-OT): MSCI has confirmed that effective May’14, Qatar (16.8% weight in FM) and UAE (12.4% weight in FM) will be reclassified as Emerging Markets from Frontier Markets presently while Morocco will be classified as a Frontier Market in the Nov’13 semi-annual index review. According to AKD …
Read More »AKD Quotidian about — Fertilizers: Worrying international urea price trend
Karachi, June 11, 2013 (PPI-OT): International urea prices have seen a declining trend during CY13TD where current price of US$321/ton stands at a 33-month low. According to AKD Securities while may see a trend reversal in 2HCY13 as international demand picks up, current price represents a premium of only 7% …
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