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Wednesday, 25 April 2012

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

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