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Wednesday, 7 November 2012

STOCK MARKET UPDATE: 08.11.2012



STOCK:
Karachi Stocks Up 12.67 Points:
KARACHI, Nov 08: The KSE-100 index was at 16230.68, Up 12.67 points. (Today @ 11.11 am)

November 07, 2012
5 TOP GAINERS  &  LOOSERS:

UniLever Pak
Rs 174.49
Rafhan Maize
Rs (188.00)
Nestle Pak
Rs 139.99
Bata Pak
Rs (26.00)
Unilever Food
Rs 85.00
Pak Gum & Chem
Rs (8.48)
Colgate Palmolive
Rs 32.00
Exide Pak
Rs (2.01)
Siemens Pak
Rs 24.00
Linde Pak
Rs (1.80)
Pakistani stocks gain 166 points, close at record high level
KARACHI: Pakistani stocks closed at a record high above 16,200 points on Wednesday, as a jump in share prices in Engro Foods and oil companies offset pressure from cement firms.
Engro Foods rose 5 per cent, or 3.83 rupees, to 80.43 per share, while D.G. Khan Cement dropped nearly 1.13 per cent, 0.60 rupees, to 52.60 a share.
“Some profit-taking was seen in cement stocks due to speculation that a few companies have reduced their prices in the north,” said Samar Iqbal, an equity dealer for Topline Securities.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 1.04 per cent, or 166.87 points, higher at 16,218.01.
Stocks hit fresh peak on Obama’s re-election
KARACHI, Nov 7: Stocks rose to a fresh record, closing on an all time high on Wednesday as investors took positions in oil and banking stocks following re-election of US President Barack Obama which they feel is positive for Pakistan on easing economic concerns as policies are likely to remain unchanged.
“President Obama’s re-election is a positive signal for Pakistan and will ease concerns over any radical shift in US administration policy in the region. The positive momentum following the August 2012 opening up of the NATO supply lines and release of $1.2 billion of Coalition Support Fund (CSF) will carry forward. This has given markets confidence and has played a key part in stabilising Pakistan’s balance of payments position, leading to ease in inflation and rally in the capital markets,” said Sayem Ali, senior economist at Standard Chartered Pakistan.
“Critical for Pakistan is the next disbursement of $600 million expected before end of 2012 and the re-election of President Obama should remove any unanticipated delays in the release of these funds.”
The KSE 100-share index ended 1.04 per cent, or 166.87 points higher at 16,218.01 points. It made a new peak at 16,243.73 points.
Turnover increased to 158.55 million shares, compared with 129.04 million shares traded on Tuesday. Trading value also rose by almost Rs2 billion to Rs6.45 billion from Rs4.57 billion the previous trading session.
Market capitalisation stood at Rs4.05 trillion, higher than Tuesday’s capitalisation of Rs3.99 trillion.
Exploration and production (E&P) and banking stocks stayed prominent gainers while reshuffling in cement stocks kept sector stocks in the volume leaders list,” said Hasnain Asghar Ali from Escorts Capital.
Though the energy stocks were not in the top 10 volume list, they did, however, play an active role in helping the index achieve two milestones.
The heaviest weighted company on the index, Oil and Gas Development Co Ltd, rose Rs3.04 to close at Rs189.72, while blue chip Pakistan Petroleum Ltd gained Rs2.19 to Rs179.
Dealers said selling continued in the cement sector after lower than expected cement dispatches in October and also on speculation on reduced prices.
“Some profit taking was seen in cement stocks due to speculation that few companies have reduced their cement price in the north,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Foreigners were active buyers as they bought shares worth a net $2.74 million, after selling shares worth a net $115,937 on Tuesday.
Banks were the major buyers with equity worth over $10 million.
The market capitalisation based KSE 30-index gained 0.96 per cent, or 126.53 points, to close at 13,326.10 points.
Out of the 334 companies traded, the value of 188 increased, 112 decreased, while 34 remained unchanged.
The biggest gainers and losers were again the high-priced stocks. On the plus side, Unilever Pakistan was up by Rs174.49 to Rs9,774.99, followed by Nestle Pakistan which was up by Rs139.99 to Rs4,699.99. On the declining side, Rafhan Maize lost Rs188 to Rs3,572 and Bata Pakistan decreased by Rs26 to Rs1,380.
The list of volume leaders included mainly middle tier shares: DG Khan Cement, which fell 60 paisa to Rs52.68 on turnover of 12.31 million shares, Engro Foods rose Rs3.83 to Rs80.43 on 10.80 million shares and Maple Leaf Cement gained 17 paisa to Rs10.17 on 10.17 million shares.
Fauji Cement shed 10 paisa to Rs6.60 on 8.29 million shares, Bank Al-Falah rose 28 paisa to Rs15.92 on 7.16 million shares and Bank of Punjab gained 23 paisa to Rs8.51 on turnover of 6.7 million shares.
JS Growth Fund ended 57 paisa higher at Rs8.41 on 5.48 million shares, Engro Corp rose Rs1.40 to Rs95.96 on 5.15 million shares and National Bank of Pakistan gained 89 paisa to Rs47.31 on 4.34 million shares.
Fauji Fertiliser Bin Qasim ended 3 paisa lower at Rs39.84 on 4 million shares.

Company news:
KESC: Rs40bn KESC plan on power generation: KARACHI, Nov 7: The Karachi Electric Supply Company (KESC) on Wednesday announced plan to invest Rs40 billion ($400 million) during next two to three years in enhancing its generation capacity, improving generation fleet efficiency to meet growing power demand across its service territory.
A spokesman from the power utility said on Wednesday that KESC would arrange these funds from local and foreign institutions in the shape of both debt and equity.
The KESC has already invested around $1 billion over the last four years in various large scale projects in generation, transmission and distribution. The new Rs40bn investment plan, he said, is aimed at enhancing KESC’s power generation capacity.
These funds will also be utilised in reducing power generation cost and building requisite transmission capacity to meet ever-rising demand of electricity in Karachi, he added.
Under the new investment plan, KESC is undertaking combined cycle projects at its three power plants in Korangi and SITE area where it would enhance efficiency of the plants and add additional 47MW of generation capacity.
A specially-designed ‘transmission package’ will see installation of new transformer bays, in addition of three new grid stations at strategic locations and extension of six existing grid stations.
The spokesman further said that in line with strategic intent to bring down the cost of generation, the new investment plan would allow KESC to convert two of its oil-fired units of 210MW each at its Bin Qasim-I to coal.
In addition, KESC pledges to develop a bio-waste energy project which would convert cattle manure from Landhi Cattle Colony and organic food waste to produce 22MW of electricity.



MOHAMMED SALEEM MANSOORI

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