The Abacus Prompt - November 2016 Issue
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- The KSE-100 index increased by 6.80% MoM, closing at 42,662 pts
- Average daily turnover increased 9.2% MoM to ~487 mn shares
- Foreign investment (as measured by FIPI activity) recorded a net sell of USD 117 mn in Nov
- Mutual Funds and individuals were largely net buyers during Nov; of USD 78.8 mn and USD 68.4 mn respectively, whereas Banks were net sellers of USD 46.8 mn
- Top growing sectors during the month were Oil, Cement and Textile sectors whereas Power and Generation was the major loser
- The PKR depreciated by 0.07% MoM against the USD, but gained 2.34% MoM against the GBP and 3.45% MoM against the EUR
- Domestic Gold prices decreased by 3.47% MoM. Domestic silver prices gained 6.67%
- WTI Crude increased by 5.94% MoM. Domestic HSD and Motor Spirit prices –set during the first of Nov – remained unchanged
- Cotton (KCA) prices increased 6.78% MoM to PKR 6,300/maund
- Urea prices remained unchanged at PKR 1,446/bag
- Cement dispatches were 3.75 mn tons, up 6.30% MoM. Prices remained unchanged at about PKR 553/ bag
- The SBP kept the policy rate unchanged at 5.75%
- Forex Reserves decreased by USD 0.85 bn MoM to USD 23.34 bn
- CPI Inflation was recorded at 3.80% YoY
- Exports increased by 0.34% MoM to USD 1.76 bn and imports increased by 5.41% MoM to USD 4.23 bn; resultantly, the trade deficit decreased by 9.35% MoM to USD 2.47 bn
- Foreign remittances increased by 3.59% MoM to reach USD 1.62 bn
- Federal tax collection was recorded at about PKR 240.0 bn
- FDI was recorded at USD 87.2 mn, up from USD 67 mn last month but down 40.6% YoY
- The Supreme Court formed a five member judicial commission to probe the Panama leak allegations after reviewing the ToR’s submitted by various stakeholders. Resultantly, Imran Khan called off the planned sit-in against the govt. in Islamabad.
- Gen Qamar Bajwa was appointed as the 16th Chief of Army Staff of the Pakistan army whereas General Zubair Mahmood Hayat was appointed the Chairman Joint Chief of Staff Committee.
- Justice (R) Saeed uz Zaman was appointed Governor of Sindh by President Mamnoon Hussain.
- Donald J. Trump became the 45th President-elect of the United States of America by securing the majority of electoral votes
- OPEC agreed to its first production cuts in eight years, leading to a sharp rise in global oil prices. Notably, Russia – not an OPEC member – also agreed to join the production cut.