B+ Analysis and News

1. Appreciation of Pak Rupee against the U.S. dollar attracted investor attention in the market
2. MARI was the star performer of the week as the company aimed to ramp‐up its gas production by 150 – 200 mmscfd within a couple of months
3. Announcement made by the Mari Gas that it will add 200mmcfd of gas within a couple of months which in turn provided momentum to the fertilizer industry
4. Government of Pakistan takes concrete step towards PIA sell‐off ,PIA has issued 2.356bn shares to the federal government against its advance equity of the same amount. The airline also increased its authorised capital to PKR54bn, from PKR30bn 
5. Foreigners continued selling spree of US$10.2mn during the week as compared to net selling of US$17mn in the past week
6. OPEC’S indecision to maintain its oil output in its last week’s policy review has triggered another slide in global crude oil prices where Arablight/Brent have slipped 7.7%/7.4%
7. ECC of the Cabinet allowed the export of 0.5 mn metric tons of sugar by Mar 31’16 and approved PkR13 as cash freight subsidy on the export
8. Engro Foods also added to rally as it is about to launch powdered milk in the next 6 months