Follow by Email

Thursday, 18 October 2012

STOCK MARKET UPDATE: 19.10.2012



STOCK:
Karachi Stocks Up 23.48 Points:
KARACHI, Oct 18: At the close of trading, the KSE-100 index was at 15678.10, up 23.48 points. 

 (Today Market is 73.18 Up @ 10.43 am)



October 18, 2012
5 TOP GAINERS  &  LOOSERS:

Rafhan Maize
Rs 60.00
Nestle Pak
Rs (267.30)
Bata Pak
Rs 59.90
UniLever Pak
Rs (199.99)
Shezan Int’l
Rs 23.70
Colgate Palmolive
Rs (69.30)
National Foods
Rs 15.12
Mitchells Fruit
Rs (16.67)
Attock Petroleum
Rs 12.14
Shell Pakistan
Rs (6.01)

Stock Market manage modest gains
KARACHI, Oct 18: Buying in cement stocks on hopes of strong corporate earnings led the market to end in the positive zone on Thursday with an increase in investor sentiment which translated into higher turnover, according to dealers.
The Karachi Stock Exchange (KSE) 100-share index rose 0.16 per cent, or 24.57 points, to end at 15,679.19 points. Volume increased to 134.89 million shares, compared with 91.25 million shares traded on Wednesday.
Trading value stood at Rs4.05 billion from the previous day’s Rs2.7 billion but market capitalisation marginally decreased to Rs3.92 trillion, compared with Wednesday’s Rs3.93 trillion.
“Cement sector stocks are continuing to maximise the benefits of a decline in interest rates, which is reflected in their earnings, along with a rise in cement prices,” said Hasnain Asghar Ali, COO at Escorts Capital.
Maple Leaf Cement and Fauji Cement were the volume leaders on Thursday and investors are actively accumulating these stocks on hopes of healthy earnings, which are due to be announced in the coming days.
“Below expectation September quarter earnings announcement by POL (Pakistan Oilfields) created selling pressure in the stocks while its group company ATRL (Attock Refinery) closed at the upper cap on account of above expectation earnings announcement,” said Samar Iqbal, dealer at Topline Securities.
Pakistan Oilfields Ltd (POL) posted an earning per share (EPS) of Rs10.8 in the first quarter of FY13, down 26 per cent from Rs14.61 in same quarter last year. POL ended Rs3.57 lower at Rs407.29.
Attock Refinery Ltd (ATRL) announced an EPS of Rs17.26 in the July-Sept period, up by a mammoth 65 per cent from Rs10.47 in the same period last year.
According to Topline Securities, the significant rise comes from an increase in gross level profitability, higher other income, lower financial charges and reduced effective tax rate.
“The stocks reaping benefits of currency weakening and lower interest rates are likely to continue to invite liquidity circulating in the economy, especially after recent cut in treasury bills,” said Asghar Ali.
Foreign investors bought shares worth a net $1.55 million on Thursday, compared with Wednesday’s $262,802, bringing the total net buying for this month to $26.29 million.
Banks were the major sellers of equity with $1.04 million.
The market capitalisation based KSE 30-index rose 0.18 per cent, or 23.15 points, to close at 12,869.67 points.
Out of the 338 companies traded, the value of 179 increased, 138 decreased, while 21 remained unchanged.
Rahfan Maize Products witnessed the highest increase in share value as it gained Rs60 to Rs3,760 followed by Bata (Pak) Ltd, which was up Rs59.50 to Rs1,249.50. But Nestle Pakistan Ltd saw the largest fall as it shed Rs267.3 to Rs5,078, followed by Unilever Food which shed Rs199.99 to Rs9,700.01.
The list of top 10 volume leaders was topped by Maple Leaf Cement, which 14 paisa to Rs9.35 on turnover of 24.02 million shares, Fauji Cement gained 1 paisa to Rs6.34 on 13.6 million shares and PTCL ended 45 paisa higher at Rs19.11 on 9.5 million shares.
DG Khan Cement closed Rs1.64 higher at Rs50.47 on 8.53 million shares, PICIC Growth rose 16 paisa to Rs13.31 on 6.54 million shares and Nishat Power ended flat at Rs16.70 on 5.03 million shares.
Nishat Chunian rose Rs1.20 at Rs27.16 on 3.76 million shares, Nishat Mills gained Rs1.46 to Rs59.22 on 3.56 million shares and Azgard Nine ended 16 paisa higher at Rs6.16 on 3 million shares.
Jahangir Siddiqui Co fell 12 paisa to close at Rs13.29 on 2.9 million shares.

Falling foreign investment weighs on KSE: KARACHI: Local stocks closed slightly lower on Wednesday due to concerns over plummeting foreign investment and gas shortages that could affect industry, traders said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.13 percent, or 19.68 points, lower at 15,654.62 on total volume of 91.251 million shares.
"Stocks closer lower today amid concerns over falling foreign direct investment in the country," said a dealer.
"Investors were worried."
Foreign direct investment in Pakistan in the first quarter of the year had fallen by 67 percent compared to the same period last year, he said, citing data from the state bank.
Investors were also concerned about potential gas shortages that might affect the industrial sector, he said. Pakistan's industry has already been badly hit by daily power cuts. (Reuters)

Pakistan’s share in global trade drops: ISLAMABAD, Oct 18: Pakistan’s share in global trade fell to 0.14 per cent in 2011 from 0.21 per cent in 1999 despite claims of the commerce ministry that exports to the world market increased manifold during the period.
In absolute terms, Pakistan lost its market share by one third, whereas India has doubled its market share during the last 12 years, official data available with Dawn reveals.
In 1999, India’s share in global trade was 0.67 per cent, which scaled up to 1.28 per cent in 2011 despite global recession. Even Bangladesh’s global market share in 1999 was 0.06 per cent, which now has doubled and reached to 0.14 per cent — equivalent to Pakistan’s share.
In South Asia, experts say Bangladesh will soon clinch the title of the second biggest economy after India. The title entertained Pakistan for years, but with the tremendous increase in the exports, Bangladesh is pacing fast to replace the former.
Pakistan is the only country which has a stagnant global market share despite the fact the government has taken a range of measures for liberalising its imports regime as compared to its neighbouring countries.
Pakistan’s exports fell to $23.64 billion in 2011-12 from $24.82 billion in 2010-11, showing a decline of 4.75 per cent. Contrary to this, world trade expanded by five per cent in 2011 compared to 13.8 per cent growth in 2010. The data reveals that Pakistan exports to Asian countries slightly fell to $11.709 billion in 2010-11 from $11.556 billion in 2011-12, showing a decline of 1.3pc. However, the share of Asian countries in Pakistan’s exports stood around 47pc.
Similarly, Pakistan’s exports to Europe also fell to $5.957 billion in 2011-12 from $6.537 billion in 2010-11, showing a decline of 8.87 per cent. After Asia, Europe has around 26 per cent share in Pakistan’s total exports proceeds.
The third biggest market for Pakistan’s export is American region, where Pakistan’s exports declined to $4.227 billion in 2011-12 from $4.755 billion in 2010-11, reflecting a decline of 11 per cent. The American region has approximately 19pc share in Pakistan’s exports market.
After striking a free trade agreement with China, Pakistan’s imports from China reached to $6.61 billion in 2011-12 from $4.41 billion in 2009-10, showing an increase of 49.9 per cent.
An official said that after FTA with China, China has emerged as a major import source for Pakistan for almost all goods — raw materials, industrial goods or consumer items. While Pakistan’s exported only $2.08 billion worth goods to China in 2011-12 as against $1.15bn in 2009-10.
Contrary to this, Afghanistan has emerged the leading export market for Pakistan where Pakistan’s exports increased to $2.16 billion in 2011-12 as against $1.57 billion in 2009-10, showing an increase of 38 per cent. Pakistan has no free trade agreement with Afghanistan, but exports increased manifold in the past few years negating the argument that free trade agreement increase the flows of exports.

MOHAMMED SALEEM MANSOORI

No comments:

Post a Comment