BMA Today for September 20, 2017 
 
     WEDNESDAY 20 September 2017 
 
 

 

   

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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 N.A N.A.
 NIKKEI 225 N.A N.A.
 STRAITS TIMES INDEX N.A N.A.
 KUALA LUMPUR N.A N.A.
 JAKARTA COMP. N.A N.A.
 THAI SET 50 N.A N.A.
Middle East    
 DFM GENERAL N.A N.A.
 TADAWUL ALL SHARE N.A N.A.
 MSM30 INDEX N.A N.A.
 KUWAIT SE WEIGHTED N.A N.A.
 DSM 20 INDEX N.A N.A.
Global Markets    
 OIL (NYMEX) 49.78

0.3
 US 10YrBOND N.A. N.A.
 LIBOR6MTH 1.47

0.01
 FTSE 100 7,275.25

21.97
 DOWJONES 22,370.80

39.45
 S&P 500 2,506.65

2.78
       
 
In Focus
Pakistan Economy CAD takes a breather in Aug big question on sustainability

   Pakistan s Current account deficit substantially eased to USD550mn in Aug 17 compared to USD2.0bn in Jul 17 owing to healthy remittances plus 27pc MoM to USD2.0bn improved exports 15 MoM to USD2.1bn and decline in imports 10 MoM to USD4.26bn The contraction in CAD may not sustain going forward in our view, given improvement in remittances is likely to be driven by seasonal factor. Import restrictive measures will be key to control non-essential imports. In this regard, the government’s efforts to maintain FX reserves (currently at 4.1-months of import cover) remains crucial for macro stability. Initiation of Sukuk bond (likely USD1bn planned) poses as a near term positive.

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Media Watch

Economy: Sharifs given one week to appear before court / Business Recorder
Sectoral: BCA downgraded_ Moody s affirms HBLs B3 Caa1 ratings / Business Recorder
Sectoral: OGRA to pass 6.3pc losses on to consumers in gas tariff from today / The News
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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.