BMA Today for June 22, 2017 
 
     THURSDAY 22 June 2017 
 
 

 

   

Select Archives

 

At a Glance

Previous Market Session

Local Market    
 KSE 100 N.A N.A
 KSE T. Value PKRbn N.A N.A
 10YR PIB N.A N.A
 6M KIBOR N.A. N.A.
 PKR/USD N.A. N.A.
Asia Pacific    
 BSE SENSEX 30 31,283.64

27.93
 NIKKEI 225 20,138.79

148.88
 STRAITS TIMES INDEX 3,201.77

42.25
 KUALA LUMPUR 1,775.57

5.63
 JAKARTA COMP. 5,818.55

64.96
 THAI SET 50 1,577.01

3.8
Middle East    
 DFM GENERAL 3,415.44

36.66
 TADAWUL ALL SHARE 7,243.25

290.58
 MSM30 INDEX 5,121.47

73.65
 KUWAIT SE WEIGHTED 403.01

4.78
 DSM 20 INDEX 8,770.04

164.33
Global Markets    
 OIL (NYMEX) 42.59

0.06
 US 10YrBOND N.A. N.A.
 LIBOR6MTH 1.43

0
 FTSE 100 7,447.79

24.92
 DOWJONES 21,410.03

57.11
 S&P 500 2,435.61

17.85
       
 
In Focus
Pakistan Strategy: Risk-return trade off improves; swift recovery unlikely

   The risk-on trade in KSE-100 on the back of increased political noise, deterioration in corporate earnings outlook and usual June-end outflow in domestic MF have shed off 14% from the index in 20 sessions.Whilst some of the risk factors are likely to persist and may impede a swift recovery in the index, correction has improved the risk-return trade-off while valuation provides additional downside cushion, in our view. Technical indicators too point to steep cooling down and an oversold market.Accordingly, we assume a more constructive outlook on the index vis a vis our start-of-the-month cautious view (see details here).We prefer large cap over small cap, large banks over small banks, high beta over low beta, and growth over D/Y. Our top-ten picks are; UBL, MCB, POL, PPL, NML, FFC, EFERT, DGKC, INDU, NCPL.Key triggers to watch out for are: upcoming result season which is usually accompanied by heavy payouts, (ii) continuing soft crude oil prices (iii) response of retail investors to recent amendments in leverage product, and (iv) reversal in liquidity to equity among local MF.

Click to Read More

Media Watch

Sectoral: NRL adopts technology to produce best quality diesel / Tribune
Sectoral: Textile representatives stage protest / Tribune
Sectoral: Three companies get approval to set up car assembly plants in Pakistan / Tribune
Click to Read More

Trailblazer


click to view

  Previous Session
Equity Round Up


Click to View
Forex Round Up


Click to View
Fixed Income Round Up


Click to View
 
 Important Info  
 
 
 
   
 BMA CAPITAL - Pakistan's Premier Investment Group
  Capital Markets | Corporate Finance | Asset Management | Research | Retail Brokerage | Funds Distribution
   www.bmacapital.com    
In 1963, Rolex for the first time launched the rolex replica Daytona watch, in order to meet the needs of endurance racing drivers and replica watches carefully designed. With a reliable speedometer scale outer ring, the highest speed up to 400 km per hour. In the dial on the configuration of swiss replica watches the central, minute and second hand; small second hand set at 6 o'clock position; through the central pointer to the timer precision to replica watches uk 1/8 seconds, 30 minutes and 12 hours timer disk were set at 3 and 9 o'clock position;

DISCLAIMER
This memorandum is produced by BMA Capital Management Limited and is only for the use of their clients. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and should not be relied upon as such. Opinions expressed may be revised at any time. This memorandum is for information only and is not an offer to buy or sell, or solicitation of any offer to buy or sell the securities mentioned.