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Monday, 7 May 2012

STOCK MARKET UPDATE:08.05.2012


Stock


Karachi Stocks Up 1.17 Points:
KARACHI, May 08: The KSE-100 index was at 146619.14,
up 1.17 points.(today11.10PM).


May 7, 2012
 5 TOP GAINERS  &  LOOSERS:


UniLever Pak Ltd

Rs 352.10

Nestle Pakistan

Rs (112.81)

Unilever Food

Rs 135.60

Island Textile

Rs (11.72)

Rafhan Maize

Rs 114.38

Indus Motor Co

Rs (8.49)

Colgate Palmolive

Rs 41.00

Sapphire Textile

Rs (5.72)

Wyeth Pak Ltd

Rs 21.66

Pak Suzuki

Rs (3.58)

 

STOCK MARKET:KSE-100 higher by 37.5 points
KARACHI: The KSE-100 index rose higher in mid-day trade, surging 37.5 points on a traded volume of 171.7 million shares with a value of Rs5.7 billion.
The All-share, KSE-30 and KMI-30 indices rose by 29.34, 16.18, and 74.49 points respectively.
PTCL was the clear volume leader, with over 27.5 million shares traded and a price rise of Rs0.88 per share. DG Khan Cement rose Rs2.21 with a traded volume of over 19.4 million shares.
Other volume leaders were Telecard Ltd, Jahangir Siddiqui, and Engro Corp, with 12.2 million, 11.2 million and 7.6 million shares traded, with Engro Corp gaining Rs3.84 in price.
Other significant gainers were PSO and Engro Corp, which rose Rs4.1 and Rs3.34 over 1.4 million and 2.05 million shares traded respectively. Attock Refinery rose Rs2.13 with a volume of 1.07 million shares and Adamjee Insurance rose Rs2.1 over 0.94 million shares traded.
Overall, 218 scripts had advanced, 117 declined and 18 remained unchanged, with cement, foods and industrial sectors pulling the market up.


Karachi Stocks manage modest gains:
KARACHI, May 7: The stock market, which had galloped in the last few sessions, broke into a trot on Monday with the KSE-100 index up by marginal 5.69 points or 0.04 per cent to close at 14,617.97 points.
The foreign inflows considered to be the engine that drove the stock market to the recent highs slowed down. Overseas investments bought shares worth net $1.95 million on Monday, which faded in the face of $19 million, a 32-month high inflow, on Friday. For the last three days of previous week, foreign investment in equity had amounted to the tall order of $32 million.
Market participants differed on whether the bulls were exhausted with a run-up that was getting closer to the previous all-time high of 15,737 points touched on April 20, 2008 or that they were taking a breather.
Other investors believed that there was a major trigger ahead, in the form of possible market-friendly announcements in the upcoming federal budget. This relates mainly to the widely speculated decrease in the tax rate for listed companies and a concurrent increase in taxation on unlisted firms and sole-proprietorship.
With the aim of driving more unlisted profitable companies to float, there are great expectations of government providing incentives to listed sector.
Samar Iqbal, equity dealer at Topline Securities, observed that the sell-off in global equity markets pushed investors in Pakistan stock market also to book some profits. Investors worried that the huge foreign inflows seen in the past week in local equity market may not continue if regional markets remain under pressure.Ahsan Mehanti, analyst at Arif Habib Corp, said that the investor interest was witnessed in blue-chip stocks in fertiliser, cement, telecom and oil sector based on speculations on fav-ourable federal budget ann-ouncements despite major fall in global stocks on future of eurozone debt, after the shift in political scene in France.
Rise in local power tariff, expected approvals on proposals for new tariff mechanism in telecom sector, expectations for early resolution of circular debt concerns put positive impression on sentiments, in spite of concerns for security situation in the city and rising political noise.
Turnover decreased to 245m shares of the trading value of Rs9.1 billion on Mon-day, from 335m shares of value of Rs10.5 billion last Friday. Out of 397 active scrips, 195 were gainers, ahead of 140 losers with 62 stocks closing at their last rates.
The KSE-30 index was up 7.25 points to 12,762.79 points and the market capitalisation stood slightly changed to Rs3.731 trillion, from Rs3.730 trillion on the previous trading session.
The volume leaders were PTCL up 78 paisa to Rs16.12 on 35m shares. D.G. Khan Cement with the second highest volume of 20m shares closed at upper limit, gaining Rs2.21 to Rs46.59 on investors’ belief that margin might further improve due to decline in international crude and coal prices.
Telecard shed one paisa to Rs2.19 on 15m shares, Jah Sidd Co rose by 26 paisa to Rs16.28 on 14m shares, Engro Corporation jumped by Rs3.60 to Rs108.07 on 11m shares, Fauji Cement was up 16 paisa to Rs6.70 on 8m shars and Fauji Fertiiser Bin Qasim stronger by Rs1.78 to Rs45.93 on 8m shares.
National Bank of Pakistan down 27 paisa to Rs48.28 on 8m shares, Fatima Fertiliser Co. adding 6 paisa to Rs25.49 on 8m shares and WorldCall Telecom up 5 paisa to Rs3.27 on 8m shares.

ANNOUCEMENTS/COMPANY NEWS:
1. Nestle raises milk prices: KARACHI, May 7: A leading multinational tetra milk producer has arbitrarily raised prices of its half and one-litre packs by Rs5 and Rs10, respectively.
Consumer prices of fresh milk and yogurt were raised by dealers to Rs75 per litre and Rs100 per kg respectively from Rs70 and Rs90, last month.Karachi Retail Grocers Group (KRGG) General Sec-retary Farid Qureishi said on Monday that Nestle Pakistan jacked up price of Milk Pak one-litre pack to Rs90 from Rs80 and half-litre pack to Rs50 from Rs45.Like past practice the company did not mention any reason for the price hike. He said in January 2009 the one litre pack was priced at Rs55 per litre which was raised to Rs58 by December 2009. In January 2011, the one litre pack was selling at Rs70 while by November 2011 the one-litre pack was available at Rs80.
Some four years back the city government tried to regulate the pricing of tetra milk but efforts went in vain as the companies argued that tetra milk did not fall within the domain of the city government. In April 2011, another attempt was made which also proved futile.
However, the performance of the city government in controlling price of grocery items including fresh milk had failed to produce any results, leaving the consumers at the mercy of market forces.
Representative of Nestle Pakistan Fakhar Ahmed lin-ked the price hike to rising cost of production on account of surging power rates, transportation cost, increase in price of milk by farmers by 18 per cent in the last five mon-ths, high milk chilling cost, paper and packaging cost etc.
He told Dawn from Lahore that farmers bring milk from villages which was first chilled at 3,000 chilling centres of Nestle and these centres were also run on generators in case of long duration of load shedding.
2. Cement exports decline: KARACHI, May 7: Cement sales in the domestic market increased for fifth consecutive months in April, though exports registered decline for the third month in a row.
“As a consequence, the capacity utilisation is at its lowest since 2002-03,” All-Pakistan Cement manufacturers Association (APCMA) said in a statement on Monday.
According to the cement producers lobby, total cement dispatches up to April 2012, in the current fiscal year, stood at 26.643 million tons which was 3.31 per cent higher than dispatches during the corresponding period of the previous fiscal year.
Local sales during the period increased by 8.51pc but exports registered a decline of 8.91pc.
APCMA stated that the mills based in the Northern and Southern regions depicted different trends both in domestic sales and exports.
He said local sales of the North based mills increased by 7.77pc to 15.928 million tons while the South based mills registered higher domestic consumption by 11.81pc to 3.701 million tons.
In regard to exports, however, the mills in the North suffered comparatively less decline than in the South.
The North based mills exported 5.087 million tons of cement posting a decline of 6.23pc over exports made during the same period last year.
The exports of South based mills decreased by 15.29pc to 1.928 million tons.
“Among the export markets, Afghanistan remained relatively stable as exports declined nominally by 0.15pc to 3.778 million tons,” APCMA stated, adding that the exports to India increased by 15.19pc to slightly over half million tons.
This included exports by sea, as well as, through Wagha border.
Exports to other destinations via sea, however, decreased by 16.96pc to 2.699 million ton.
APCMA listed some of the major problems faced by exporters through Wagha border. Those included: Labour strike on the Indian side resulting in piling up of consignments which was affecting the movement of trucks from Pakistan; allowing only 10 wheeler trucks from Pakistan to cross the border and maximum weight not to exceed 40 tons per truck.
“Unfortunately, most of the available transportation for cement has a loading capacity of more than 40 tons.
Availability of 10 wheeler trucks with a loading capacity up to 40 tons for cement is limited; resulting in the cement industry being unable to export its surplus capacity,” APCMA said. It also complained that there was only one scanner installed at the new gate at Wagha border resulting in long queues creating hurdles and delay for Pakistani exports to India.

MOHAMMED SALEEM MANSOORI

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