BMA Today for July 15, 2019 
 
     MONDAY 15 July 2019 
 
 

 

   

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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 Equity Market Strategy : US Visit & IMF Program Can Buoy Valuations

   PM Imran Khan and US President Donald Trump meeting could reap dividends: Prime Minister (PM) Imran Khan is expected to meet United States President Donald Trump during his visit to USA scheduled for 21-23 Jul’19 where discussions are expected to take place on Pak-US relationship as well as hold dialogue on regional peace process. Pakistan’s role has amassed greater importance of late owing to its strategic location. This should be grounds for resetting ties with the USA and it emerging as a key partner. The change of winds is noticeable after President Donald Trump had been critical of Pakistan’s efforts. As a result, Pakistan is expected to garner support and possibly a softer stance for Financial Action Task Force (FATF) review scheduled for Sep’19. IMF to provide USD6bn; USD1bn disbursed: The International Monetary Fund (IMF) has approved the much awaited bailout for Pakistan. This is a 39-month Extended Fund Facility (EFF) of USD6bn, with an initial disbursement of USD1bn (higher than earlier reports and also the initial disbursement of the previous IMF program in 2013 when the IMF had disbursed USD550mn).

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Media Watch

Economy: Pakistan told to pay USD5.9bn to mining firm in Reko Diq case / Dawn
Sectoral: Devaluation new taxation measures rattle auto industry / The News
Sectoral: Ordinance to bail big GIDC defaulters out / The News
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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.