STOCK MARKET UPDATE:18.10.2012

STOCK:

Karachi Stocks Down 22.15 Points:
KARACHI, Oct 17: At the close of trading, the KSE-100 index was at 15652.15, down 22.15 points.

(Today Market is 96.05 Up @ 10.52 am)

October 17, 2012

5 TOP GAINERS  &  LOOSERS:

Unilever Food	Rs 170.00	Millat Tractors	Rs (5.19)
Nestle Pak	Rs 121.00	Thal Limited	Rs (4.45)
ColgatePalmolive	Rs 14.00	Clover Pak	Rs (4.44)
National Foods	Rs 13.77	IGI Insurance	Rs (4.41)
Sanofi-Aventis	Rs 10.70	GlaxoSmithKiline	Rs (3.59)

KSE 100-index falls 22.15 points.

KARACHI, Oct 17: Selling in volume leader Pakistan Telecommunication Co Ltd following a net loss in the first quarter of 2012-13, led the country’s main stock exchange to end lower though a slight increase was witnessed in the turnover on Wednesday, dealers said.
The KSE 100-share index ended 0.13 per cent, or 19.68 points, lower at 15,654.62 points. Volume increased to 91.25 million shares, compared with 82 million shares traded on Tuesday.
However trading value fell to Rs2.7 billion from the previous day’s Rs3.04 billion and market capitalisation was flat at Rs3.93 trillion, unchanged from Tuesday’s value.
“Corporate results have so far not able to impress the market and major volume was seen in PTCL that surprised the market by posting a loss due to employee separation scheme,” said Samar Iqbal, a dealer at Topline Securities Ltd.
PTCL announced its result for the first three months of FY13 and on a consolidated basis, the company recorded an after-tax net loss of Rs8.3 billion (LPS: Rs1.62), against an earning per share of 44 paisa in the same period last year.
The result was lower than market expectations as analysts expected a profit in PTCL’s earnings for the July-Sept period.
The below expectation earnings of PTCL was largely due to recording of Rs11 billion of Voluntary Separation Scheme (VSS) expense (pre-tax EPS impact of Rs2.16), according to a note by AKD Securities Ltd.
“However targeted fertiliser stocks are likely to maintain growth in earnings and payouts,” said Hasnain Asghar Ali from Escorts Capital and is likely to see some buying.
Engro Corp after coming under severe selling pressure in the previous few trading sessions ended in the green zone, while Fauji Fertiliser carried its positive trend.
Dealers said there were also some concerns on the macroeconomic front, “as stocks closed bearish following a fall in FDI (foreign direct investment) during first quarter of FY13,” said Ahsan Mehanti from Arif Habib Ltd.
The foreign direct investment (FDI) fell by 67 per cent to $87 million during the July-September of 2012-13 compared to $263 million the same period last year.
Foreign investors were less active in the market on Wednesday as they bought shares worth a net $262,802, compared with $1.38 million on Tuesday, bringing the total net buying for this month to $24.73 million.
Banks were the major sellers of equity with $1.25 million.
The market capitalisation based KSE 30-index fell 0.11 per cent, or 14.59 points, to close at 12,846.52 points.
Out of the 320 companies traded, the value of 124 increased, 164 decreased, while 32 remained unchanged.
Unilever Food witnessed the highest increase in share value as it gained Rs170 to Rs3,570 followed by Nestle Pakistan Ltd which was up Rs121 to Rs5,346. But Millat Tractors saw the largest fall as it shed Rs5.19 to Rs5485.71, followed by Thal Ltd which shed Rs4.45 to Rs98.64.
The list of top 10 volume leaders was topped by PTCLA, which fell 58 paisa to Rs18.66 on turnover of 23.37 million shares, JS Growth Fund shed 5 paisa to Rs7.50 on 5.07 million shares and Sui South Gas rose 1 paisa to Rs22.02 on 3.92 million shares.
PICIC Growth closed 3 paisa higher at Rs13.15 on 3.57 million shares, Nishat Chunian shed 43 paisa at Rs18.82 on 3.17 million shares and Fauji Fertiliser gained 14 paisa to Rs115.60 on 2.9 million shares.
Jahangir Siddiqui Co ended flat at Rs13.41 on 2.58 million shares, Engro Corp closed up 30 paisa at Rs95.69 on 2.33 million shares, and Maple Leaf Cement shed 10 paisa to Rs9.21 on 1.9 million shares.
Fauji cement rose 3 paisa to close at Rs6.33 on 1.8 million shares.
MOHAMMED SALEEM MANSOORI