December11,2013

KSE100Index

NEWS&VIEWS

9Dec13 10Dec13 %Chg

MARKETROUNDUP
24,998.89 24,878.68 0.48% KSE100indexlost120pointsyesterdaytocloseat24,878points,with177mnshares
18,719.99 18,639.79 0.43% being traded. Top performance as per index points was witnessed in COLG, ENGRO

KSE30Index

andJWDSwhereas;topdeclinerswereMCB,NESTLE&FFCactivitywasmainlycon

SharesTraded(mn)

151

ValueTradedPKRm

7,994

ValueTradedUSDm

75

75 0.85%

MarketCap.PKRbn

6,040

6,006 0.57%

MarketCap.USDbn

57.0

56.7 0.57% edlysoughtshorttermsupportfromcommercialbanksintermsofimportbillfinanc

TRADEDATE

CLIENT
TYPE

177 16.94% centratedinConstructionandMaterials,TravelandLeisureandCommercialBanks.

7,926 0.85% WerecommendinvestorstoSellonStrength.

BUY
VALUE

SELL
VALUE

NET
VALUE

(5,395)
(2,671)
(657)
(53)
(546)
(93)
(9,414)
(1,002)

479
6
(226)
8
(69)
19
216
(216)

inPKRm
10Dec13
10Dec13
10Dec13
10Dec13
10Dec13
10Dec13

Individuals 5,874
Companies 2,676
Banks/DFIs 431
NBFC
61
MutualFunds 477
Others
112
LIPI
9,630
FIPI
786

10Dec13

Source:NCCPL,TSLResearch

MARKET LASTWEEK
Index

Vol.(m)

25,200

300

24,900
24,600

150

24,300
24,000
Tue

Mon

Fri

Thrus

Wed

COMMODITIES

PRICE CHANGE %
(inUSD) (inUSD)

BrentCrude
Cotton
Gold
Silver

111.74
78.44
1,230.11
19.51

Source:Bloomberg

0.13
(0.70)
1.11
(0.02)

0.12%
0.88%
0.08%
0.09%

NEWSSNAPSHOT
Exchangeratestability:Darbankingonbanks:FinanceMinisterIshaqDarhasreport

ingtoachieveexchangeratestabilityasimprovementinforeignexchangereservesis
expectedfromnextmonthwithmaterializationoffinflowsinthepipeline,itwasre
liablylearnt.(BR)

IMFprojects7.09percentinflationforFY14:IMFprojected7.09percentinflationfor
Pakistanonitswebsiteforthecurrentfiscalyearascomparedto7.4percentforlast
fiscalyearwhileCPIforNovemberwasrecordedat10.9percent.Thegovernmentin
theMemorandumonEconomicandFinancialPoliciesfor2013to2016submittedto
theIMFacknowledgedthat"inflationwouldnotbeaprimaryfocusinthefirstyearof
the programme,"... however based on the government's revenue and expenditure
budgetary projections the Fund projected a rate of inflation well below what has
beenachievedduringthepastfivemonthsofthecurrentyear.(BR)

Remittancesriseto$6.4billioninfivemonths:OverseasPakistaniworkersremitted
anamountof$6406.73millioninthefirstfivemonths(JulyNovember)ofthecurrent
fiscal year 201314 (FY14), showing agrowth of7.10percent when compared with
$5982.04 million received during the same period of last fiscalyear(JulyNovember
FY13).(BR)

THERUPEE:steeprecovery:Sharprecoverywaswitnessedonthemoneymarketon
Wednesday as the rupee managed to shed losses amid Finance Minister's meeting
with the presidents of commercial banks, dealers said. The rupee gained 45 paisa
versusthedollarforbuyingatRs107.75anditalsopickedup42paisaforsellingatRs
107.80,dealerssaid.(BR)

Dar expects reserves to rise by $3 billion: The government on Tuesday tried to

soothetopbankersandassuredthemthatthethinforeigncurrencyreservesofthe
country will increase by about $3 billion. It again pinned its hopes on uncertain in
flowsincluding$800millionfromtheUnitedStatesdespiteWashingtonsfreshwarn
ing to halt disbursements in response to blockade of Nato supplies in Pakistan. Dar
saidthegovernmentwasexpectingpaymentof$800millionbyEtisalat,another$800
milliononaccountofCoalitionSupportFundbytheUSandover$1.2billionfromthe
auctionoftelecomspectrumlicense.(ET)

SC rejects 9pc additional tax on gas prices: TheSupremeCourt(SC)onTuesdayre

jectedtheninepercentadditionaltaxongaspricesanddirectedthegovernmentto
returntheadditionalmoneytoconsumers.(TN)

NPLs fall by Rs 11.152 billion in Q1FY14: The NonPerforming Loans (NPLs) of the
Continuedonpage2

DISCLAIMER:Theaboveinformationandadviceisgiveningoodfaith,withoutanylegalresponsibility.TaurusSecuritiesLimitedorindividualsconnected
withitmayhaveusedresearchmaterialbeforepublicationandmayhavepositionsinormaybeinterestedinthesecuritiesmentionedherein.

TAURUSSECURITIESLIMITEDNEWS&VIEWS
WORLDINDICES
MarketsatClose
DJIA
Nasdaq
S&P
FTSE
DAX
CAC40
Nikkei
H.Seng

Dec10,2013 bankingindustryfellbyRs11.152billionduringthefirstquarterofthecurrentfiscal
Index
16,020.20
4,062.52
1,805.09
9,172.41
9,223.40
4,302.42
15,585.98
23,815.84

Chg
1.26
0.73
1.72
0.96
(1.90)
9.36
1.78
0.31

year(FY14).AccordingtoStateBankofPakistan(SBP),theNPLsoftheentirebanking
industry(includingbanksandDFIs)havefallentoRs620.978billionasonSeptember
30,2013,comparedtoRs632.130billionasonJune30,2013,depictingadecreaseof
about two percent or Rs 11.15 billion during the first quarter of current fiscal year.
(BR)

Proposedgassaleprice:MPCLlockshornswithministry:MariPetroleumCompany
Limited (MPCL) has reportedly locked horns with Petroleum Ministry over the pro
posedgassalepricetoM/sEngroFertiliser.PetroleumMinistry,inaletter,hadsug
gested diversion of MPCL's contracted gas supply to Engro's old plant from its new
plantthroughSNGPL;bynovationtoSNGPLofMPCL'soldplantGasPurchase&Sale
Agreements(GPSA)withEngro.(BR)

5%dutyreductiontocutcarpricesbyuptoRs192,000:Withthelikely5.0percent
tariffreductiononimportofCompletelyKnockedDown(CKD)unitsintheupcoming
Auto Industry Development Policy II (AIDP), locally assembled cars prices will de
creasebyuptoRs192,000,analystsaidonTuesday.(DT)

Bankersmeetfinanceminister:FederalMinisterforFinance,IshaqDarhasexpressed
the hope that the situation of foreign inflows will further improve and those who
speculateonPakistanicurrencywouldonlyendasloosers.Wehaveaclearroadmap
tobuildforeignexchangereservesupto$20billioninthenext3years.(DT)

IPgaspipeline:Islamabad,TehranforfasttrackImplementation:PakistanandIran
havedecidedforfasttrackimplementationoftheIPgaspipelineprojectandtofor
mulate a roadmap to address the challenges with effective coordination and co
operation,saidForeignOfficehereTuesday.TheUnitedStateshasbeenopposingthe
projectandadvisingcautioninproceedingwithaprojectthatwouldtakeoneahalf
yearstocomplete.(BR)

Iran, Pakistan agree to set new deadline for gas pipeline: Pakistan and Iran have
agreedthattheirgaspipelinewillnotcomeonstreambyDecember2014andhave
decidedtosetarealistictimeframeandsortoutotherimportantissuesinvolvingfi
nancing,constructionperiodandappointmentofEPCcontractor.(TN)

ECC to consider PSM package today: TheEconomicCoordinationCommittee(ECC)

of the Cabinet is to consider Rs 26.5 billion preprivatization package for the
'technicallyshut'PakistanSteelMills(PSM)onWednesday(today).(BR)

FedgovttohelpSindhbuild600MWplant:ThegovernmentofSindhhasbeenas
suredonTuesdaythatFederalgovernmentwouldextendallpossibleassistanceinthe
constructionofa600MWThermalPowerPlantatthemouthofacoalmineinThar.
(DT)

Rules framed for commercial papers: The Securities and Exchange Commission of
Pakistan(SECP)hasapprovedtheIssueofCommercialPapersRegulations,2013.The
regulations are aimed at facilitating highlyrated companies to raise funds from the
capitalmarkettomeettheirshorttermfinancialneedsthroughissuanceofCommer
cial Papers to provide the investors an additional financial product and to develop
andbroadenthedomesticdebtmarket.(DAWN)

Revenue body provides timeframe for amnesty plan: In order to avail the money
whiteningschemerecentlyannouncedbyPrimeMinisterNawazSharif,theFBRhas
provided a twoandahalf year timeframe to industrial units, which would receive
benefitsunderthisscheme,tobeginproduction.(TN)

DISCLAIMER:Theaboveinformationandadviceisgiveningoodfaith,withoutanylegalresponsibility.TaurusSecuritiesLimitedorindividualsconnected
withitmayhaveusedresearchmaterialbeforepublicationandmayhavepositionsinormaybeinterestedinthesecuritiesmentionedherein.