BMA Today for September 19, 2018 
 
     WEDNESDAY 19 September 2018 
 
 

 

   

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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) N.A. N.A.
 US 10YrBOND N.A. N.A.
 LIBOR6MTH N.A. N.A.
 FTSE 100 N.A N.A.
 DOWJONES N.A N.A.
 S&P 500 N.A N.A.
       
 
In Focus
Pakistan Strategy : Mini-budget 2018-2019 - A major policy action to draw +ve response

   The details on PKR183bn supplementary budgets announced 18th Sep18 portrays a mixed picture. The announced measures are largely seen as crucial for a much-needed fine tuning of macro policy backdrop with a key objective of balancing government’s financing and addressing external account challenges. The major area of surprise is potential reversal in policy thrust on discouraging tax evasion. The mini-budget will now be discussed in the parliament (simple majority required for approval). The proposed budget is the second most significant policy action by the new govt. since assuming power in mid-Aug’18. Autos, Construction, and Textile are key beneficiaries.

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Media Watch

Sectoral: Lifting of ban on non-filers seen boosting investment in realty auto sectors / The News
National: IMF team due on September 26 / Business Recorder
Sectoral: Bank levy raised exemptions for public servants withdrawn / Business Recorder
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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.