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Tuesday, 25 September 2012

STOCK MARKET UPDATE: 26.09.2012



STOCK:
Karachi Stocks up 13.15 Points:
KARACHI, Sept 25: At the close of trading, the KSE-100 index was at 15388.67, up 13.15 points.

(Today Market is 3.70 Down @ 10.50 am)


September 25, 2012
5 TOP GAINERS  &  LOOSERS:

Indus Dyeing
Rs 19.00
Unilever Pak
Rs (300.00)
Shezan int‘l
Rs 10.00
Siemens Pak
Rs (45.25)
Indus Motor Co
Rs 9.24
Bata Pak
Rs (20.47)
Pak Services
Rs 8.17
Island Textile
Rs (13.60)
Clover Pakistan
Rs 5.09
Wyeth Pak Ltd
Rs (9.29)
KSE: Stocks suffer fractional fall on profit-selling
KARACHI, Sept 25: Stocks ended flat as cautious investors booked profits at higher levels due to political uncertainty amid hearing of NRO case on Tuesday, but losses were restricted as bargain hunters accumulated telecom and cement stocks.
Federal Law Minister Farooq H. Naek presented an authority letter on behalf of Prime Minister Raja Pervez Ashraf and a draft of the Swiss letter in the Supreme Court. A five-member bench adjourned the hearing until Wednesday upon the request of the law minister.
The KSE 100-index ended 0.01 per cent, or 2.06 points, lower at 15,373.46. Turnover increased to 105 million shares, compared with 85.78 million shares traded on Monday.
Trading value decreased to Rs2.46 billion from Rs2.59 billion the previous day reflecting that trade was witnessed mostly in second to third-tier scrips. Market capitalisation was flat at Rs3.89 trillion.
“Telecom sector again came into limelight as the ICH exchange is scheduled to become operational from Oct 1,” said Ayub Ansari, investment analyst at AKD Securities Ltd.Pakistan Telecommunication Authority (PTA) is set to launch an International Clearing House Exchange next month in compliance with the Ministry of Information Technology (MoIT) policy directive.
The ICH exchange will be established for international incoming calls for long distance, fixed-line local loops, wireless local loops and mobile operators.
This generated a lot of interest from the investors and resulted in PTCL as the volume leader, gaining 42 paisa to Rs19.36 on turnover of 11.334 million shares.Samar Iqbal, dealer at Topline Securities Ltd, said investors accumulated shares of Maple Leaf due to “handsome full year earning announcement.”
Maple announced a net profit of Rs496 million in 2011-12, compared with a net loss of Rs1.77 billion last year.
The cement sector has been in the limelight as according to a report by Topline Securities profits of cement companies have increased by 7 times in FY12 to Rs16bn ($168m) due to a robust increase in cement prices.
Interestingly, out of 10 companies which have announced their full year results only one cement company has posted losses in FY12 whereas last time almost 50 per cent of the cement companies were in losses.
Analysts said there are expectations of a cut in the discount rate in the upcoming monetary policy due to be announced in October, which could be the next trigger and lift market sentiment.
Foreign investors sold shares worth a net $1.08 million, compared with buying a net $1.85 million on Monday while banks were the major sellers of equity with $3.26 million.
The market capitalisation based KSE-30 index rose 0.03 per cent, or 3.84 points, to 12,966.95 points. Out of the 314 companies traded, the value of 139 advanced, 154 declined, while 21 remain unchanged.
Indus Dyeing witnessed the largest increase of Rs19 to Rs419, followed by Shezan Inter, which gained Rs10 to close at Rs260.
Unilever Pakistan had the highest decrease as it fell by Rs300 to Rs9,400 followed by Siemens Pakistan which shed Rs45.25 to end at Rs862.
In the top 10 most active companies, PTCL was the volume leader, followed by Maple Leaf Cement which gained 60 paisa to end at Rs9.14 on turnover of 7.25 million shares, Pak Elektron Ltd rose 10 paisa to Rs8.11 on 7.14 million shares, Fauji Cement increased by 5 paisa to Rs5.99 on 5.31 million shares.
DG Khan Cement gained 32 paisa to Rs47.86 on 5.17 million shares, KESC rose 22 paisa to Rs6.57 on 4.82 million shares, Telecard Ltd increased by 12 paisa to Rs3.32 on 4.32 million shares.
Worldcall Telecom gained 2 paisa to Rs2.99 on 3.04 million shares and Nishat Chunian Power rose 33 paisa to close at Rs16.24 on 2.63 million shares.

KSE elects 4 directors
KARACHI, Sept 25: The Karachi Stock Exchange Limited on Tuesday elected four directors for a term of three years to replace the first directors nominated by the exchange under the Demutualisation Act.
According to a KSE press release out of a total of nine candidates, three withdrew their nominations, leaving six candidates to contest the election. A total of 206 members of the exchange attended the meeting either in person or through proxy/authorisation under Board Resolution and cast their votes, out of which four ballot papers were declared invalid/rejected and 202 ballot papers were declared as valid.
Based on the results, the four candidates who were declared successful, in order of the votes secured, were: Abid Ali Habib, Muhammad Yasin Lakhani, Abdul Majeed Adam and Mohammed Sohail.
In terms of Demutualisation Act, SECP has nominated six directors on KSE Board, namely Muneer Kamal, Kamal Afsar, Shazad G. Dada, Abdul Qadir Memon, Asif Qadir and Syed Muhammad Shabbar Zaidi, out of whom Muneer Kamal has been elected chairman of the board. As such, the KSE Board now comprises of six nominees of SECP, four elected directors representing shareholders and the managing director, by virtue of his office.

Company news:
Cement sector profits rise: KARACHI, Sept 25: Cement companies succeeded to increase their profits in the FY-12 to Rs16 billion mainly on account of 26 per cent increase in cement prices, said Topline Research in its report issued on Tuesday.
The report said out of 10 companies (representing 76 per cent cement industry) which have announced their full year results, only one cement company has posted losses in FY12 whereas last year almost 50 per cent of the cement companies were in loss.
Better cement sector outlook and turnaround in FY12 led cement sector posting 119 per cent returns during 2012, it said.
One of the turnaround stories for cement manufacturers in FY12 was sharp rise in local cement demand which led to improvement in cement prices at local arena, said the report.
This led to handsome increase in total revenues by 33 per cent to Rs123 billion.
The local volumetric sales remained higher by 9 per cent to 24 million tons in FY12 and the cement prices increased by an average 26 per cent during FY12.
However, total sales during FY12 (local + exports) stood at 32.6 million tons, up 4 per cent, said the report.

MOHAMMED SALEEM MANSOORI

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