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Sunday, 29 April 2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 30.04.2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 30.04.2012: Stock Karachi Stocks Down 105.38 Points: KARACHI, Apr 26: At close of trading, the KSE-100 index was at 14112.36, down 105.3...

STOCK MARKET UPDATE: 30.04.2012




Stock


Karachi Stocks Down 105.38 Points:
KARACHI, Apr 26: At close of trading, the KSE-100 index was at 14112.36, down 105.38 points..

April 27, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Food

Rs 111.96

Siemens Pakistan

Rs (33.73)

UniLever Pak Ltd

Rs 109.87

Sanofi-Aventis

Rs (7.00)

Nestle Pakistan

Rs 92.08

ICI Pakistan

Rs (5.82)

Searle Pakistan

Rs 21.16

National Refinery

Rs (3.67)

Indus Dyeing

Rs 18.06

EFU Life Assur

Rs (3.58)


KSE-100 index slips 23.32 points

KARACHI: Karachi Stock Exchange (KSE) fell on Friday on sales of blue-chip National Bank of Pakistan (NBP) after it announced a lower-than-expected net profit for the quarter ending March 30, dealers said.
NBP announced a net profit of 4.6 billion rupees ($50.63 million)for Jan-March quarter, compared with a 4.2 billion in the same period last year. Analysts had been expecting a net profit of 5 billion rupees.
The bank did not announce any dividend with the result.
"Lower-than-expected profits by NBP resulted in profit taking in key stocks," said Samar Iqbal, a dealer at Topline Securities Ltd.
NBP shed 3.38 percent to end at 47.15 rupees.
The KSE benchmark 100-share index closed 0.17 percent, or 23.32 points, lower at 14,042.77 points on turnover of 196.16 million shares.
The index ended at 14,217.74 on Wednesday, the highest close since May 2008.
In the currency market, the rupee ended weaker at 90.85/90 to the dollar, compared with Thursday's close of 90.80/86 because of increased import payments.
The rupee has been supported by remittances, which rose 21.45 percent to $9.73 billion in the first nine months of the 2011/12 fiscal year, compared with $8.02 billion in the same period last year.
In March, remittances totaled $1.14 billion.
In its monetary policy statement this month, the State Bank of Pakistan (SBP) said the external sector was likely to remain under pressure because of both external debt payments and a lack of foreign aid.
GDP growth is estimated at 3.2 percent for 2011/12 fiscal year, according to the Pakistan Bureau of Statistics.
The growth target was 4.2 percent as originally presented in the budget announced June 2011 and later revised down to 4 percent following floods in August and September that year.
Current account deficit widened to a provisional $3.089 billion in the first nine months of the 2011/12 fiscal year, compared with $10 million over the same period in the previous year, the central bank said on Wednesday.
Overnight rates in the money market ended flat at 11.90 percent, unchanged from the previous day's close amid tight liquidity in the interbank market. (Reuters)
KSE likely to see some profit-selling
KARACHI: The Karachi Stock Exchange (KSE) is expected to see some profit-selling and consolidate near and around the resistance level of 14,000 points next week, said dealers on Saturday.
“Profit-selling would be a major salient feature of the KSE next week,” said Ahsan Mehanti, an analyst at Arif Habib Corporation, adding that the expected stock-specific buying might dilute the selling pressure to some extent.
In the week ended on April 27, the benchmark KSE-100 Index successfully recovered above 14,000 points resistance level after a gap of four years. During the week, the index increased by 106.29 points, or 0.76 percent, and stood at 14,042.77 points.
Mehanti said that the index has surged by over 2,000 points in anticipation of the implementation of relaxed capital gains tax (CGT) regime, since the finance minister has announced to relax the tax regime in the middle of January. And those investors who have taken positions since January are expected to book profits in the post-CGT introduction era, he said.
“Investors would also opt to book profits at the available margins, as there are still some questions in the implementation of the CGT regime in letter and spirit,” he said, adding that the presidential ordinance on the reformed tax regime is yet to be approved by the parliament to become a part of the next Finance Bill.
The political noise regarding the conviction of Prime Minister Gilani in the contempt of court case would also convince investors to trim their positions in the post-earnings announcement season, he said.
He said that most of the blue-chips have announced their earnings for the quarter ended on March 31 and may remain subject to profit-selling next week.
Fundamentally, cement, energy and banking sector stocks, however, may invite some buying at the bourse that may relax the pressure on profit-selling to some extent, he said.
An analyst at KASB Securities said that although the cloud of uncertainty over the CGT relief package has removed, certain questions remained unanswered over the practical implementation, which would keep investors cautious till further clarity.
With financial results almost over, moreover, politics could take on a more decisive role as the ruling PPP has framed its counterstrategy in the aftermath of the PM’s conviction, he said.
Pakistan-US relations are still awaited finishing touches where a firm breakthrough could pave the way for resumption of sovereign flows. Budget-related noise is also expected to pick up where sector-specific developments could play a role, he said.
In the outgoing week, the average daily turnover trimmed by 4.4 percent to 257 million shares. Market capitalisation improved by Rs19 billion to Rs3,587 billion. More interestingly, foreign investors took fresh positions worth $12.7 million in the week.
Naveed Tehsin, an analyst at Topline Securities, said that the much-awaited ordinance for changes in the CGT was released during the week. However, investors took a cautious stance and also disregarded better-than-expected results by the blue-chip stocks at the local bourse.
Samar Iqbal, an equity dealer at Topline Securities, said that key results of oil, banking and cement stocks supported the index close above 14,000 points threshold in the week after a gap of four years.
 
MOHAMMED SALEEM MANSOORI

Thursday, 26 April 2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 27.04.2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 27.04.2012: Stock Karachi Stocks Down 105.38 Points: KARACHI, Apr 26: At close of trading, the KSE-100 index was at 14112.36, down 105.38 po...

STOCK MARKET UPDATE: 27.04.2012


Stock


Karachi Stocks Down 105.38 Points:
KARACHI, Apr 26: At close of trading, the KSE-100 index was at 14112.36, down 105.38 points.
April 26, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Food

Rs 106.63

Nestle Pakistan

Rs (212.78)

Pak Gum & Chem

Rs 6.13

UniLever Pak Ltd

Rs (35.61)

OGDC

Rs 4.57

Wyeth Pak Ltd

Rs (31.26)

Allawasaya Tex

Rs 4.53

Millat Tractors

Rs (11.79)

Shezan Inter

Rs 4.27

National Refinery

Rs (7.87)


Stocks suffer 151 points decline

KARACHI, April 26: The Karachi Stock market was gripped by uncertainty on Thursday after the pronouncement of the judicial verdict on Prime Minister case.
Private TV channel grabs forced nervous and excitable investors to resort to profit taking.
A cloud of uncertainty, however, had shrouded the aftereffects of the judgement and most investors were wondering: “what now?”
The market which had started on a note of business-as-usual despite the upcoming judgement later in the day, saw the KSE-100 index rise to around 100 points as favourite stocks on all sectors continued the climb.
But panic gripped mostly retail investors who decided to stay out until the dust settled. Thus, several second and third tier stocks quickly dived to their lower locks. The corporate results, some of which were disappointing, pulled the related stocks, such as a couple of cement giants, from their highs to lows for the day.
The institutional, foreign and high net-worth individuals retained their faith in the stocks, so that foreign investors made a net buy of $1.83 million worth equity; companies bought shares valued at $1.70 million and Mutual Funds also seized the opportunity to pick up stocks at dips. But due to lower retail participation, turnover was down to 271 million shares for the day, compared to 307million shares traded the previous day.
The joy on signing of Presidential Ordinance regarding the reformed capital gains tax was diluted as various quarters once again raised the noise of giving the ‘black money’ a conduit to be turned ‘white’ through the stock exchange.
Analyst Hasnain Asghar Ali at Invisor Securities said that regardless of the materialisation of long awaited infrastructural changes, investors in stocks remained indecisive due to a charged political atmosphere after the decision of judiciary.
It dissuaded investors from aggressive buying. The decision of taxation authority to reintroduce Capital Value Tax (CVT) on purchase of shares was thought to be at the cost of trade, that could disallow the local bourse to attain the expected volumetric increase, though the proposed infrastructural changes might allow substantial increase in turnover, going forward.
Most analysts, however, believed that the underlying tone in stocks was still positive based on more upcoming healthy financial results and possible incentives for listed corporates in the budget. Yet all of that could be clouded by any adverse development on the political front.
Traded value of stocks on Thursday, dropped by more than a billion rupees to Rs7.6 billion, from Rs8.7 billion the day before, in line with dip in number of traded shares. A total of 208 shares were on the decline, evidencing a wide gap against only 98 that attracted more values. UniLever Food was the biggest gainer of Rs106.63 to Rs2239.25, followed by Pak Gum & Chemical up by Rs6.13 to Rs128.92.
The declining stocks were led by Nestle Pakistan, down by Rs212.78 to Rs4091.26 and UniLever Pak lower by Rs35.61 to Rs 6215.30.
The volume leaders included Jahangir Siddiqui Co down to lower lock by Re1 to Rs18.92 on 38m shares; IGI Investment Bank conceding 31 paisa to Rs3.24 on 17m shares, the investors ignoring news over potential takeover by Bank Al-Falah. PTCL decreased by 66 paisa to Rs12.71 on 17m shares as the excitement over results proved short lived. Fauji Cement was down 24 paisa to Rs6.28 on 16m shares; Lafarage Pakistan shed 36 paisa to Rs4.94 on 13m shares. DG Khan Cement continued to give up from earlier huge gains and was down by Rs2.04 to Rs40.25 on 15m shares; Azgard Nine went down by 66 paisa to Rs7.86 on 9m shares; NBP backed down by 85 paisa to Rs48.80; Engro Foods rose by a substantial Rs2.35 to Rs53.28 on 8m shares and FFBL added Rs1.89 to Rs40.14 on 8m shares.

ANNOUCEMENTS/COMPANY NEWS:
1.Lucky Cement profit rises : KARACHI, April 26: Lucky Cement declared nine months (July-March) net profit at Rs4.68, translating into earning per share (eps) of Rs14.49.
Analysts said that the results were in line with expectations as they showed massive growth of 89 per cent over profit at Rs2.5bn (EPS Rs7.65) reported in the corresponding period of last year. The board did not declare a dividend.
The reason for strong earnings growth was thought to be due to improved per ton profitability on higher prices.
Sales rose 29 per cent to Rs23.95bn from Rs18.53bn in the same time last year. At the operating level, profits rose 88 per cent to Rs6.22bn, compared to Rs3.31bn recorded in the same time last year. Financial costs declined by 29 per cent that helped bottom-line.
Lucky was said to have decided to invest approx $15m in setting up 870,000 tons per annum Greenfield Cement grinding plant in Republic of Iraq as a joint venture project.
Moreover, the company further plans to invest $4m in its associated company which was establishing a Wind farm project — M/s Energy Limited for the generation of 50MW electricity at a cost of $143m.
MOHAMMED SALEEM MANSOORI

Wednesday, 25 April 2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 26.04.2012

KARACHI STOCK EXCHANGE-DAILY MARKET TREND: STOCK MARKET UPDATE: 26.04.2012: Stock Karachi Stocks Down 89 Points: KARACHI, Apr 26: The KSE-100 index was at 14128.74, Down 89 points.(today 11.51am) Ap...

STOCK MARKET UPDATE: 26.04.2012



Stock


Karachi Stocks Down 89 Points:
KARACHI, Apr 26: The KSE-100 index was at 14128.74, Down 89 points.(today 11.51am)

April 25, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Food

Rs 101.55

Rafhan Maize

Rs (25.47)

Bata (Pak)

Rs 20.08

UniLever Pak Ltd

Rs (10.34)

Indus Dyeing

Rs 11.90

Siemens Pakistan

Rs (10.00)

Wyeth Pak Ltd

Rs 10.00

Sanofi-Aventis

Rs (8.00)

Pak Oilfields

Rs 6.92

National Foods

Rs (5.18)


Karachi Stock climbs higher in mid-day trade

KARACHI: The KSE-100 index rose over 134 points in mid-day trade, with trading volume standing at over 154 million shares with a total value of Rs5.46 billion.
Top 5 volume leaders have been in the green, with Lafarge Pakistan being in the top with 15.9 million shares and a Rs0.7 increase in share price.
The oil and gas sector pushed the index significantly higher, with Pakistan Oilfields gaining Rs7.34 with a traded volume of over 1.1 million shares, PSO gaining Rs.5.34 over 1.6 million shares, and PPL rising by Rs3.55 over 2.7 million shares.
The index was climbing higher on the back of oil and gas and banking sectors. Amongst the other indexes, the All-share-index rose over 88 points, the KSE-30 index rose over 127 points, and KMI-30 rose over 250 points.

Karachi Stocks end on new four-year high
KARACHI: Pakistani stocks ended on a four-year high on Wednesday on media reports that amendments to the capital gains tax (CGT) ordinance had been signed by President Asif Ali Zardari the day before, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed 0.60 per cent, or 85.15 points, higher at 14,217.74, the highest close since May 2008.
“The market was bullish after the revised CGT was signed by the President. However, investors are a bit cautious as they have not seen the document as yet,” said Mohammed Sohail, chief executive at Topline Securities.
The CGT ordinance was initially scheduled to be signed after the federal budget, due to be released in May, but reports said the government was pressured by brokers to sign it earlier.
There was no confirmation from the President’s office of the media reports.



ANNOUCEMENTS/COMPANY NEWS:
1.  Soneri Bank Limited : Soneri Bank posted a pre-tax profit of Rs679.60 million for the three months ending March 31, 2012.
According to a press release the bank’s first quarter net mark-up income after provisions jumped up by 63.26 per cent and amounted to Rs1,109.93 million during the period under review as compared to Rs679.85 million in the same period last year.
The overall comparable growth in pre-tax profit was 56.20 per cent, which amounted to Rs679.60 million, whereas the net profit after tax amounted to Rs493.84 million up by 62.77 per cent from Rs303.39 million recorded during the first quarter of 2011.
***
KARACHI, April 25: KASB Bank has been awarded ‘Super Agents’ status by MoneyGram International in Pakistan, with a super agency agreement being signed on April 24, a press release stated.
The Super Agent agreement entrusts KASB Bank to spearhead the expansion of MoneyGram distribution network in Pakistan.
2. MCB declares 30% cash dividend on higher PAT:KARACHI: MCB Bank Ltd has reported a higher profit after tax of Rs 5.644 billion during the quarter ending March 31,2012 ...

MOHAMMED SALEEM MANSOORI