STOCK MARKET UPDATE: 05.10.2012

STOCK:
Karachi Stocks Down 11.61 Points:
KARACHI, Oct 04: The KSE-100 index was at 15777.35, Down 11.61 points. ( @ 12 Noon – Half Session)

October 04, 2012

5 TOP GAINERS  &  LOOSERS:

Nestle Pak	Rs 153.74	UniLever Pak	Rs (500.00)
Bata Pak	Rs 44.45	Dreamworld	Rs (20.90)
Shezan int‘l	Rs 16.53	ZIL Limited	Rs (4.58)
National Foods	Rs 13.96	Ismail Industries	Rs (3.33)
Allahwasaya Textile	Rs 8.94	Clariant Pak	Rs (3.30)

Karachi Stocks set yet another record

KARACHI, Oct 4: The Karachi Stock Exchange witnessed yet another historic day on Thursday as it hit a fresh all-time high of 15,814.84 points and ended on its highest-ever closing of 15,788.96 points for the second consecutive day on hopes of a cut in the discount rate when the country’s central bank announces its monetary policy on Friday.
A majority of analysts are expecting a cut of 100 basis points in the State Bank of Pakistan’s policy rate, after a cut of 150 basis points in August.
The KSE 100-share index ended 0.49 per cent, or 76.75 points, higher at 15,788.96 points.
Volume increased to 137.6 million shares compared with 107.65 million shares traded on Wednesday.
The previous all-time high was 15,747.64 and highest-ever closing 15,712.21, both made the previous day.
Trading value increased to Rs4.88 billion compared to Wednesday’s value of Rs4.2 billion which means investors were far more active in the market on Thursday and market capitalization also increased to Rs3.98 trillion from the previous day’s Rs3.96 trillion.
“The KSE-100 share index continued with its positive sentiment on Thursday in anticipation of monetary easing where rate cut expectations were further crystallised from Wednesday’s reduction in T-bills cut-off yields by approximately 50 basis points,” said Ayub Ansari, senior investment analyst at AKD Securities Ltd.
The State Bank of Pakistan slashed its benchmark six months treasury bills rate by 47 basis points to 9.758pc.
Highest cut was introduced in three months paper which fell to 9.729 per cent after a cut of 50 basis points.
The 12-month treasury bills witnessed a slash of 49 basis points. The 50 basis point cut in the treasury bills was taken as an indication by the market that policy interest rate could see a cut in the upcoming monetary policy.
There was a lot of interest in the Nishat stocks amid strong corporate earnings.
“NCL and NCPL closed at its upper limit after a handsome payout and healthy earnings announcements which also brought buying interest in NML which is due to announce its result tomorrow,” said Samar Iqbal, dealer at Topline Securities.
The NCL announced a net profit of Rs699 million for 2011-12 which was higher than market expectations. NCL’s performance in the fourth quarter was impressive as its net profit increased by 60 per cent to Rs400 million over the third quarter due to better yarn sales and lower fuel costs.
NCL also issued its first bonus ever of 10 per cent. NCL closed Rs1.12 higher at Rs23.70.
NCPL, NCL’s subsidiary, also surprised the market when it announced a final cash dividend of Rs2 per share. It closed Rs1 higher to Rs18.35.
Foreign investors were also extremely active in the market on Thursday as they bought shares worth a net $6.53 million, compared with net outflows of close to $1 million. Companies were major sellers of equity in the market, worth $3.4 million.
The market capitalization-based KSE-30 index gained 0.47 per cent, or 61.78 points, to 13,303.38 points. Out of the 361 companies traded, the value of 210 increased
, 126 decreased and 25 remain unchanged.
Nestle Pakistan Ltd reflected the biggest increase as it rose Rs153.74 to end at Rs4,800 followed by Bata (Pakistan) Ltd which gained Rs44.45 to close at Rs1,100.
Unilever witnessed the largest decrease as it fell Rs500 to Rs10,000 followed by Dreamworld which shed Rs20.90 to Rs397.10.
The following companies were the 10 most active in the market on Thursday: Lotte PakPTA, volume leader rose 28 paisa to Rs7.40 on turnover of 13.13 million shares, Nishat Mills gained Rs1.67 to Rs60.52 on 9.49 million shares and Golden Arrow marginally ended 1 paisa higher at Rs4.99 on 8.42 million shares.
Sui Southern Gas increased by 88 paisa to Rs22.87 on 6.35 million shares, DG Khan Cement gained 36 paisa to Rs50.98 on 5.33 million shares but Jahangir Siddiqui Co fell 16 paisa to Rs13.83 on 4.66 million shares.
Fauji Fertiliser gained Rs2.24 to Rs117.25 on 4.28 million shares.
Nishat Chunian Power ended Rs1 higher at Rs18.35 on 4.2 million shares, United Bank rose Rs1.71 to Rs72.49 on 3.98 million shares and Nishat Chunian gained Rs1.12 to Rs23.70 on 3.79 million shares.

KSE keeps breaking its own records

KARACHI: Karachi Stock Exchange (KSE) carried over its previous few days’ positive note, as on Friday during trading KSE-100 index was seen surged to the highest ever at 15,844 points.

The financial experts’ anticipation about Central Bank likely to lower the discount rate further by one percent in the monetary policy to be announced today had sparked a sense of optimism among the investors in the market who continued making purchases even today that sent the KSE-100 index rocketing to the highest ever at 15,844 points.

MOHAMMED SALEEM MANSOORI