1745 replies to this topic

[MJI]

In this Topic I and our member share about CFS / Foreign Trading


CFS investment up 13.51 percent

KARACHI ( 2009-04-06 04:38:25 ) :Total CFS investment at the Karachi share market increased by 13.51 percent on week-on-week basis to settle at Rs 1.81 billion on Friday as compared to Rs 1.60 billion on the same day a week earlier. "The moderation of the circular debt crisis along with the receivable of the second tranche from the IMF strengthened investors confidence in Pakistan's ability to survive the economic crisis", analysts said.

A similar trend was witnessed by the CFS rate, which increased by 94 bps on weekly basis to 18.79 percent due to increase in demand for financing. Top-5 scrips by CFS investment were OGDC, NBP, Engro, MCB and POL, cumulatively accounting for 55 percent of the total CFS investment during the week.

[MJI]

Decision on phasing out CFS Mk-II in a day or two: SECP

KARACHI (April 07 2009): The Securities and Exchange Commission of Pakistan (SECP) is likely to announce its decision regarding phasing out existing CFS Mk-II and to introduce new products in one or two days. The SECP has almost reviewed the recommendations sent by the CFS Mk-II Review Committee and any decision in this regard is expected to be announced in one or two days, Acting Chairman SECP, Salman A Shaikh told Business Recorder on Monday.

The recommendations were sent by the committee constituted by the SECP in consultation with the relevant stakeholders comprising representatives of the three stock exchanges, National Clearing Company of Pakistan Limited, Mutual Fund Association of Pakistan, Pakistan Banks Association and senior securities market professionals/stakeholders to review CFS Mk-II in its entirety.

Shehzad Naqvi, CEO of The Royal Bank of Scotland Limited is the chairman of the CFS Mk-II Review Committee while Mateenullah Khan, Joint Director SECP is the Secretary. The committee was constituted to review CFS Mk-II in its entirety, with particular reference to risk management, eligible securities for financing, margin requirements, analyse the role of CFS Mk-II as a leverage product during the recent stock market situation and draw conclusions, propose measures for further strengthening risk management of the product and to recommend other leverage products in line with the best international practices. The committee has submitted its recommendations to the SECP in line with the terms of reference.

The committee has strongly recommended that both CFS Mk-II and Deliverable Futures be discontinued. The committee said that the board of directors of Karachi Stock Exchange and National Clearing Company of Pakistan Limited have already passed resolutions recommending doing away with CFS Mk-II. One hundred and three (103) KSE members have also asked in writing for discontinuation of CFS Mk-II.

"This is opportune time to do away with both these products, as the outstanding sums involved are small and are not likely to cause stress in the market," the committee observed. The committee proposed to introduce a new product namely Securities Lending and Borrowing (SLB) with an obligation to redeliver the same securities in the same number and an agreed rent on the future date.

The potential lenders and borrowers can be the brokers, mutual funds, pension funds, banks, asset management companies, insurance companies and other companies managing large equity portfolios. All potential lenders/borrowers should be Clearing Members of the NCCPL.

The motivation for lenders is to earn income/return on their Idle Securities. The borrowers may utilise SLB functionality for the purpose of avoiding delivery failures in ready/future market and honouring delivery obligations after affecting the short sale. The lenders retain the right to any economic benefit associated with the lent securities, the committee said.

The committee also gave its proposals about the SLB models saying the facility will provide a solution for managing the delivery failure. About the risk management, the committee suggested that the borrowers shall pay 100 percent value, in terms of cash, of the borrowed securities to the NCCPL against the SLB transactions on a pre-trade basis.

The mark-to-market losses shall be collected from the borrowers on a daily basis in the form of cash only. The NCCPL shall hold such margins and mark-to-market till the settlement of the SLB transactions and where borrowers/lenders fail to return/deliver the securities that have been borrowed/lent.

On the settlement day, the NCCPL will initiate the buy-in or close out process in accordance with NCCPL regulations. Where lenders/borrowers fail to meet their settlement obligations and/or fail to pay margins and mark-to-market losses, they should be considered defaulters in term of NCCPL regulations.

Edited by MJI, 07 April 2009 - 02:07 PM.

[MJI]

CFS UNRELEASED AMOUNT AS ON APRIL 06, 2009 1983.226571 AVERAGE CFS RATE 19.01

TOP 15 CFS SCRIPT SORT BY VALUE

CODE

MCB Bank Ltd    290,505,574
National Bank    280,372,259
Engro Chemical    214,333,928
D.G.K.Cement    128,459,344
Oil & Gas Dev    127,111,237
Attock Refinery    111,723,748
Pak Oilfields    94,865,906
United Bank Ltd    90,704,166
Adamjee Insurance    84,311,579
P.T.C.L.A    74,540,951
Nishat Mills    69,293,488
Jah.Siddiq.Co    51,609,258
P.S.O    47,196,366
Azgard Nine    46,012,295
Arif Habib Securities    45,242,678

TOP 15 CFS SCRIPT SORT BY HIGH CFS RATE

CODE

Nishat (Chunian)    30
Arif Habib Securities    26.47
Jah.Siddiq.Co    25.02
Askari Bank    25
Sui South Gas    25
Fauji Cement    24.87
Sitara Peroxide    24.16
National Ref    23.64
Netsol Technologies    23.57
EFU General Insurance    23.12
NIB Bank    22.88
Bank.Of.Punjab    21.44
Habib Bank Ltd    21.32
Fauji Fert Bin    21.21
Attock Petroleum    20.83

TOP 15 CFS SCRIPT SORT BY LOW CFS RATE

CODE

Oil & Gas Dev    16.29
Fauji Fertilizer    16.47
Pak Petroleum    17.27
National Bank    17.79
Allied Bank Limited    18
Sui North Gas    18
D.G.K.Cement    18.06
P.S.O    18.4
Hub Power    18.47
Lucky Cement    18.56
P.T.C.L.A    18.75
Engro Chemical    18.79
MCB Bank Ltd    18.98
Adamjee Insurance    19.04
Attock Refinery    19.14

Edited by MJI, 07 April 2009 - 12:56 PM.

[MJI]

CFS UNRELEASED AMOUNT AS ON APRIL 07, 2009 1880.983263 AVERAGE CFS RATE 19.01

TOP 15 CFS SCRIPT SORT BY VALUE

CODE

National Bank    254,864,651
Engro Chemical    211,369,772
ICI Pakistan    160,652,703
MCB Bank Ltd    131,759,125
Oil & Gas Dev    127,175,114
Attock Refinery    101,997,780
Pak Oilfields    94,890,998
United Bank Ltd    83,552,844
D.G.K.Cement    80,277,458
Jah.Siddiq.Co    73,752,686
Adamjee Insurance    71,882,776
Nishat Mills    64,186,711
Lucky Cement    57,526,006
Attock Petroleum    49,119,188
P.S.O    46,763,726

TOP 15 CFS SCRIPT SORT BY HIGH CFS RATE

CODE

Arif Habib Bank    35
WorldCall Tele    35
Sui South Gas    26.25
Sui North Gas    25.26
JS Bank Ltd    25
PACE (Pakistan) Limited    25
Nishat (Chunian)    25
National Ref    24
Netsol Technologies    23.75
Jah.Siddiq.Co    23.12
Fauji Cement    22.13
Kot Addu Power    22
Bank.Of.Punjab    21.89
Attock Petroleum    21.72
EFU General Insurance    21.46

TOP 15 CFS SCRIPT SORT BY LOW CFS RATE

CODE

Adamjee Insurance    16.97
Engro Chemical    17.3
MCB Bank Ltd    17.46
P.T.C.L.A    17.61
National Bank    17.84
Hub Power    18.07
P.S.O    18.17
Fauji Fertilizer    18.28
Habib Bank Ltd    18.44
Lucky Cement    18.62
D.G.K.Cement    18.68
Attock Refinery    18.76
Pak Petroleum    18.84
Nishat Mills    19.6
Fauji Fert Bin    19.64

[MJI]

CFS UNRELEASED AMOUNT AS ON APRIL 08, 2009 RS. IN MILLION 1377.160729 AVERAGE CFS RATE 21.05%

CODE

Company Name    Total Qty    Total Value    Rate
Engro Chemical    1,168,800    165,556,423    N/A
ICI Pakistan    1,330,400    160,166,327    N/A
Oil & Gas Dev    1,619,700    127,222,515    N/A
National Bank    1,325,100    125,154,350    20
Pak Oilfields    534,400    94,933,133    N/A
MCB Bank Ltd    485,800    71,338,327    30
Attock Refinery    685,400    64,204,104    N/A
Adamjee Insurance    751,900    60,939,804    20
United Bank Ltd    1,202,400    59,102,457    N/A
Azgard Nine    1,427,500    46,061,331    N/A
D.G.K.Cement    1,914,700    45,210,329    20
Attock Petroleum    158,000    45,071,638    N/A
Lucky Cement    724,200    41,869,413    N/A
P.T.C.L.A    2,233,300    40,802,118    N/A
Nishat Mills    1,074,700    36,775,044    N/A
Jah.Siddiq.Co    837,600    30,500,184    N/A
P.S.O    148,700    29,560,870    N/A
Fauji Fertilizer    269,700    24,186,091    N/A
Hub Power    1,167,500    24,043,663    N/A
Arif Habib Securities    729,700    21,163,175    N/A
Fauji Fert Bin    1,123,500    20,294,781    N/A
Pak Petroleum    106,100    18,760,900    N/A
Bank Al-Falah    1,172,300    17,158,123    N/A
NIB Bank    2,437,000    15,342,233    20
Bank.Of.Punjab    843,000    10,180,244    N/A
Habib Bank Ltd    84,700    9,664,717    N/A
Askari Bank    517,100    9,070,781    N/A
Allied Bank Limited    200,000    8,688,259    N/A
EFU General Insurance    25,000    2,750,652    N/A
Sui North Gas    44,700    1,452,193    N/A
Faysal Bank    89,400    1,387,705    N/A
Packages Ltd    8,200    1,288,525    N/A
Sui South Gas    73,500    1,082,764    N/A
Netsol Technologies    54,000    1,048,967    N/A
Fauji Cement    149,000    987,297    N/A
Sitara Peroxide    41,000    893,704    N/A
JS Bank Ltd    125,500    747,707    N/A
Pak Refinery    7,700    645,685    N/A
PACE (Pakistan) Limited    40,000    370,290    N/A
Kot Addu Power    9,300    325,262    N/A
Arif Habib Bank    15,000    117,263    N/A
Soneri Bank    7,500    106,760    N/A
WorldCall Tele    10,000    36,735    N/A
Nishat (Chunian)    1,500    19,348    N/A
National Ref    100    17,734    N/A

PREVIOUS WAS 07-04-2009 RS. IN MILLION 1880.983263

TODAY WAS 08-04-2009 RS. IN MILLION 1377.160729

DIFFERENCE RS. IN MILLION 503.822534

[MJI]

Trading activities of foreign investors from April 07, 2009 to April 08, 2009

RS. IN MILLION

GROSS BUY

775.774607


GROSS SELL

-543.91522


NET BUY

231.859387


NET BUY US$

2.8910148



The amount has been converted in USD at the rate of Rs. 80.1999

Edited by MJI, 09 April 2009 - 03:56 PM.