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Wednesday, 2 May 2012

STOCK MARKET UPDATE: 03.05.2012



Stock


Karachi Stocks Up 162.12 Points:
KARACHI, May 02: At close of trading, the KSE-100 index was at 14152.50, up 162.12 points.

May 2, 2012
 5 TOP GAINERS  &  LOOSERS:


Unilever Food

Rs 122.95

Bata (Pak)

Rs (31.58)

UniLever Pak Ltd

Rs 73.71

Siemens Pakistan

Rs (9.05)

Nestle Pakistan

Rs 41.69

Millat Tractors

Rs (8.65)

Wyeth Pak Ltd

Rs 19.08

Sanofi-Aventis

Rs (7.21)

Indus Motor Com

Rs 11.51

Pak Gum & Chem

Rs (2.92)

Karachi Stocks stage robust rally of 152 points
KSE-100 closes over 150 points (14142.52): ISLAMABAD: Pakistani stocks rose on Tuesday with selective buying by investors, while the market remained volatile because of political uncertainty in the country, dealers said.
The Karachi Stock Exchange (KSE) benchmark 100-share index closed 1.09 per cent, or 152.14 points, higher at 14142.52 points on turnover of 160.7 million shares.
Earlier in the day, the index reached an intra-day high of 14166.65.
Shares for the Karachi Electric Supply Company and Engro Corp led the surge.
“With Engro, there were rumours in the market that gas supply to its new urea plant will be resumed,” said Atif Zafar, a research analyst at the JS Global financial services company.


KARACHI, May 2: After a short breather on Monday, shares at the stock market continued their rising streak, gaining 152.14 points to close once again above the psychological barrier of 14,000 at 14,142.52 points on Wednesday.
Volume of business for the day shot up to 246m shares valued at Rs6.213bn, from Rs164m shares of trading value at Rs3.864bn on Monday.
Most equity strategists were, however, calling for taking a cautious stance and to wait for a confirmation before going long. On Wednesday, much of the market rise was attributable to foreign inflows; the overseas investors making a mammoth net purchase of $8.18m worth equity on Wednesday.
The significance of the amount can be gauged from the fact that it amounted to a third of net purchases of $22.06m in all of last month and sixth of $38.19m year-to-date. Without the foreigners stepping into pick up stocks, the net sales of $3.17m by companies; $2.28m by mutual funds and $2.93m by individuals was likely to have pulled the market down.
Samar Iqbal, equity dealer at Topline Securities observed that due to heavy purchases of shares in Engro, DGKC and PTCL market comfortably closed above 14,000 points level. Ignoring the rising political temperature investors built new positions in anticipation that the upcoming budget will provide relief to industrial sector, he said.
Ahsan Mehanti, analyst at Arif Habib Corp, thought that the stocks had closed bullish on account of healthy quarter-end earning announcements on strong valuations.
Bullish activity in global stocks and commodities after strong US manufacturing data and renewed foreign interest played a catalyst role in bullish sentiments in stocks across the board at KSE, he said.
However, investors were eagerly awaiting the federal budget.
Analyst Hasnain Asghar Ali at Invisor Securities stated that the rally was led by fertiliser stocks and well supported by cement shares.
However, due to uncertainties on sensitive front the overall turnover initially stayed on the lower side. Yet there ensued across the board accumulation by active market participants, which sustained the bull-run throughout the session.
In mid-session the banking stocks saw gains that allowed the frontline stocks to make substantial and balanced volumetric contribution for both trading and investments. Analysts said that investors were focused on upcoming budget. Market capitalisation improved to Rs3.615 trillion on Wednesday, from Rs3.574 trillion on Monday.
The market capitalisation based KSE-30 index posted gain of 114.16 points to 12,366.32 points.
Among the 379 active issues, as many as 234 closed in positive territory, while 88 were in the negative zone; another 57 stocks ended unchanged.
The biggest gainers for the day included Unilver Food, up by Rs122.95 to Rs2,582.94 and UniLever Pak climbing higher by Rs73.71 to Rs6,400. Excepting Bata which lost a sizeable sum of Rs31.58, the rest of the losses were in single digits. Siemens shed Rs9.05, Millat Tractors gave up Rs8.65, Sanofi Aventis was easy by Rs7.21 and Pak Gum & Chemical conceded Rs2.92 from its previous gains.
Peculiarly all 10 top volume leaders finished at gains, with five of them hitting their upper circuit. KESC with 21m shares was up by 77 paisa to Rs4.47; PTCL commanding volume of 19m shares rose 97 paisa to Rs13.52, Lafarge Pakistan added 44 paisa to Rs5.27 on 14m shares, Jah.Sidd.Co ended limit up by Re1 to Rs15.93 on 13m shares, Fatima Fertiliser made maximum gain of Rs1.15 to Rs24.40 on 12m shares.
DGK Cement also hit the upper limit adding Rs1.91 to Rs41.84 on 12m shares, Azgard Nine firmed up by 56 paisa to Rs7.60 on 12m shares, Bank of Punjab at upper circuit of Rs1 to end at Rs9.95 on 12m shares, Bank Alfalah scored gains of 75 paisa to Rs18.02 on 11m shares and JS Investments also at upper circuit of Re1 to Rs10.62 on 11m shares.

ANNOUCEMENTS/COMPANY NEWS:
1. Engro board announces new President, CEO:
ISLAMABAD: The Board of Directors of Engro Corporation Limited Tuesday announced the appointment of Muhammad Aliuddin Ansari as the new President and CEO of Engro Corp.
Mr. Ansari takes over the Company from the outgoing President and CEO, Asad Umar, who had served Engro for over 27 years in various roles before taking over as the President in 2004.
Prior to joining Engro Corp. Muhammad Aliuddin was the CEO of Dewan Drilling, Pakistans first independent Oil & Gas drilling company.
He started off his career as an Investment Manager at WorldInvest/Bank of America in London and has also served as the CEO of AKD Securities and COO, Emerging Europe for Credit Lyonnais Securities. He has also served on the boards of Lucky Cement, the Karachi Stock Exchange, National Clearing Company of Pakistan and Al Meezan Investment Management.
He has been a member of the Engro Corp board since 2009 and is also on the Board Audit Committee and is the Chairman of the Board Investment Committee.
MOHAMMED SALEEM MANSOORI

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