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Tuesday, 5 June 2012

STOCK MARKET UPDATE: 06.06.2012







STOCK:


Karachi Stocks Up 49.19 Points:
KARACHI, June 06: The KSE-100 index was at 13757.42, up 49.19 points.(today 10.57 am)
June 5, 2012
5 TOP GAINERS  &  LOOSERS:

Nestle Pak
Rs 150.21
National Refinery
Rs (12.00)
UniLever Pak
Rs 60.19
Mithchells Fruit
Rs (11.74)
Bata Pak
Rs 11.62
MCB Bank
Rs (4.53)
Shield Corp
Rs 5.59
PSO
Rs (4.21)
Attock Petroleum
Rs 5.45
Altas Battery
Rs (4.14)

Bearish spell continues on stock market
KARACHI, June 5: Stocks on Tuesday remained depressed as the KSE-100 index finished the session with fresh pruning of 49.69 points at 13,708 points.
The market maintained gloomy outlook for the second consecutive day after announcement of the federal budget 2012-13, which did not offer much to the capital market investors.
The unfavourable market environment triggered offloading from foreign investors amounting equity worth $5.01 million, according to the National Clearing Company’s website on Tuesday evening.
The bearish spell was being blamed on the financial crisis in the eurozone which was taking toll on the world markets with Asian markets no exception.
Mohammad Sohail of TopLine Securities said that following the global economic woes, Asian markets were under pressure as well. “During the last two days, shares worth $12 million were sold and this trend is likely to continue. Also, the volume dropped to a four month low,” he said.
Local investors were playing safe, however.
“A similar trend is being observed on Indian markets where investors selling stocks and instead opting for government bonds/dollars,” he remarked.
The KSE-30 index also shed 90.96 points at 11,835.05 points. The market capital went down from Rs3.522 trillion, after a loss of Rs13.029 billion, to settle at Rs3.509 trillion. The turnover went down to 68 million from the previous 96 million shares. In terms of trading value, there was a fall from Rs3.290 billion to Rs2.477 billion.
Of the total actives 99 shares added fresh gains to their overnight rates, 167 scrips landed into negative territory while 96 shares held on to their last closing levels.
Top gainers were Nestle Pakistan Ltd and UniLever Pak up by Rs150.21 and Rs60.19 at Rs4000.15 and Rs7,260 respectively. National Refinery emerged as the major loser for the second consecutive day posting a fresh loss of Rs12.00 to Rs229.34. Mitchell’s Fruit lost Rs11.74 to close at Rs310.57.
A quick look at the active list showed that DGK Cement lost 56 paisa to close at 41.31 on 5m shares, Fatima Fertiliser, shed 38 paisa at Rs24.55 on similar turnover. Jah Sidd Co went down by 27 paisa at Rs14.64 on 4m shares, Hubco fell by 11 paisa at Rs39.70 on 3m shares.Engro Foods Ltd added 63 paisa at Rs67.18 on 2m shares, Pak Elektron Ltd gained 16 paisa at Rs6.19 on 2m shares.
KESC lost seven paisa at Rs3.52, NBP down 62 paisa at Rs43.89, Nishat Mills closed at Rs48.96 after losing 67 paisa and Bank Alfalah shed 27 paisa at Rs16.72 on identical volume of 2m shares each.

ANNOUCEMENTS/COMPANY NEWS:
1)PPL, OGDC raise LPG base stock prices: LAHORE, June 5: PPL, OGDC and Pak Arab Refinery have increased LPG base stock prices to Rs63,250, Rs62,500 and Rs64,000 per ton respectively exclusive of duties and taxes.
As a result of this increase, LPG producer prices have increased by as much as Rs6,000 per ton in the country and have started hitting the poor again.
According to Belal Jabbar, a spokesman for the LPG Association of Pakistan, new sale prices of domestic and commercial LPG cylinders have increased from Rs1,240 to Rs1,310 and Rs4,767 to Rs5,040 respectively.
Moreover, retail rates are expected to increase as follows; Sindh and Balochistan Rs105, Punjab Rs110, Khyber Pakhtunkhwa Rs115 and AJK and Northern Areas Rs120 per kg.
2) KESC receives Rs500m in TFC offer: KARACHI: The Karachi Electric Supply Company Limited (KESC) public issue of Term Finance
Certificates (TFCs) have been subscribed in the sum of Rs500 million, making a quarter of the total amount of Rs2 billion on offer, inclusive of Green shoe option of Rs1 billion. The paper had been picked up by investors in about a week from the opening of subscription on May 25 to June 1, which market experts thought was a reasonably warm response. The TFCs are available for public subscription up to August 24.
The KESC TFCs mark the public offering of Pakistan’s first-ever utility sector retail bond issue. The TFCs Rated, Listed and Secured have been offered in three tenors: 1 year at 13pc, 3 year at 14.75pc and 5 year at 15.5pc.
Minimum investment amount has been fixed at Rs10,000, which the utility said was to allow broad-based participation in the venture.
Analysts quoting company sources said the papers have been secured against receivables from specific 250 corporate customers.
The average collection from those customers was Rs900 million per quarter.
Investments received against the TFCs would be utilised for financing KESC’s permanent working capital requirements.
On Monday, the bankers to the issue announced at the stock exchange, the subscription figures up to June 1.
The bifurcation of amounts sold in TFC 1/TFC 2/TFC 3 from May 25, 2012– the opening of subscription period– to June 1, 2012 stood as follows: In respect of TFC 1, the company had sought Rs300 million, against which 83 applications were
received in the sum of Rs269 million, covering 90 per cent of the offer. TFC 2 received 35 applications for total sum of Rs45 million or 4 per cent of the offer of the heaviest amount of Rs1.2 billion and the TFC 3 that are for sale in the sum of Rs500 million, received Rs185 million, representing 37 per cent of the issue.

Capital market analysts said that the trend seems to indicate investors’ interest in one, three and two year tenor, in that order.

MOHAMMED SALEEM MANSOORI

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