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Monday, 19 November 2012

STOCK MARKET UPDATE: 20.11.2012



STOCK:
Karachi Stocks Up 68.49 Points:
KARACHI, Nov 19: At the clsoe of trading, the KSE-100 index was at 16266.23, up 68.49 points. 
 (Today Market is 85.29 Up @ 11.11 am)

November 19, 2012
 5 TOP GAINERS  &  LOOSERS:

Island Textile
Rs 31.17
Rafhan Maize
Rs (72.00)
Bata (Pak)
Rs 27.11
Colgate Palmolive
Rs (65.00)
Exide (Pak)
Rs 11.48
Fazal Textile
Rs (10.60)
Bhanero Tex.
Rs 10.75
Pak Gum 7 Chem
Rs (6.42)
Sapphire Fiber
Rs 6.55
JWD Sugar
Rs (4.99)
KSE index hits new peak at 16,251
KARACHI, Nov 19: Stocks ended higher on Monday to a fresh record closing, with an increase in activity as investors accumulated middle-tier shares especially in the cement and textile sectors on hopes of a rise in export and local demand.
The KSE 100-share index ended 0.33 per cent, or 53.64 points higher at 16,251.38 points. Turnover also increased to 245.67 million shares, compared with 165.11 million shares traded on Friday.
Trading value rose to Rs4.96 billion from Rs3.81 billion in the previous trading session and market capitalisation also increased marginally to Rs4.06 trillion, compared with Friday’s capitalisation of Rs4.04 trillion.
“Volumetric activity in the stocks carrying turnaround stories kept the participants active that led to a decent rise in volume, the traded value however failed to match the rise in turnover since low priced stocks witnessed major activity,” said Hasnain Asghar Ali from Escorts Capital.
“The proposed formula that may give fertiliser producers uninterrupted gas supply in exchange for decrease in local urea prices did keep the fertiliser stocks under pressure, wherein some continued to face dividend materialisation led selling while the major victim of gas cut, Engro, did witness accumulation led by short covering thus balancing the situation for the sector.”
Engro closed at its upper limit of 5 per cent at Rs94.60.
According to reports, Ministry of Industries and the fertiliser industry have jointly tailored a new urea price formula, which recommends slashing of Rs68 per MMTBU in Gas Development Surcharge (GDS), 4.7 per cent reduction in GST and provision of 200 MMCFD uninterrupted gas supply to urea plants, which will reduce the price of urea by Rs150 per bag.
“LOTPTA also came in limelight after Asian PTA producers proposed to link the PTA price with Paraxylene (Px) to improve their margins. Engro Corp also closed to its upper cap after witnessing selling pressure for last few sessions,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Foreign investors turned into net sellers as they sold shares worth $159,155 on Monday, after buying shares worth a net $1.68 million on Friday bringing the total net buying for this month to $22.03 million. But individuals were the major sellers with equity worth $1.67 million.
The market capitalisation based KSE 30-index rose 0.37 per cent, or 49.28 points, to close at 13,233.37 points.
Out of the 369 companies traded, the value of 245 increased, 100 decreased, while 24 remained unchanged.
The biggest gainers and losers were as follows: on the plus side, Island Textile was up by Rs31.17 to Rs654.61, followed by Bata Pakistan, which was up by Rs27.11 to Rs1,344.99. On the declining side, Rafhan Maize lost Rs72 to Rs3,500 and Colgate Palmolive decreased by Rs65 to Rs1,235.
The list of volume leaders included mainly middle tier shares: Maple Leaf Cement up 98 paisa to Rs13.02 on 31.27 million shares, Azgard Nine gained 70 paisa to Rs8.73 on 26.51 million shares and Fauji Cement ended 13 paisa higher at Rs6.87 on 18.15 million shares.
Lotte PakPTA rose 36 paisa to Rs7.39 on 13.83 million shares, Jahangir Siddiqui Co ltd ended 10 paisa lower at Rs16.86 on 13.79 million shares and PTCLA rose 76 paisa to Rs17.68 on 8.29 million shares.
TRG Pakistan gained 29 paisa to Rs4.28 on nearly 8 million shares. Byco Petroleum shed 26 paisa to Rs9.33 on 6.69 million shares and Engro Corp ended 4.50 paisa higher at Rs94.60 on 6.13 million shares.
DG Khan Cement gained 35 paisa to end at Rs53.61 on 5.54 million shares.
KSE amends rules for cash deposit
KARACHI, Nov 19: The Karachi Stock Exchange announced on Monday a couple of amendments in Regulations Governing Stock Index Futures, Regulations Governing Market making and Regulations Governing Cash Settled Futures.
A notice by the KSE referred to the following two amendments: One, the waiver of basic deposit in stock index and cash settled futures. Accordingly, the requirement of basic deposit of Rs0.250 million for participation in the Stock Index Futures and Rs0.1 million for participation in Cash Settled Futures have been removed. Secondly, under the head reduction in basic deposit for becoming market maker, the KSE stated that the minimum refundable deposit requirement of Rs0.250 million for becoming market maker at the KSE was reduced to Rs0.025 million.
Officials at the bourse said that the amendments were carried out under the powers conferred in Section 34(1) of the Securities and Exchange Ordinance and with the prior approval of the Securities and Exchange Commission of Pakistan.A market watcher commented that the bourse had initiated the amendments to help in the growth of derivatives market and to improve volumes in the ready market.
Earlier last week, the KSE had said it had achieved a “milestone required for the Development of Derivative Segment” by appointment of a Market Maker in the Stock Index Futures. The brokerage AKD Securities which was appointed the Market Maker in the Stock Index Futures, began work from November 16. The appointment of the Market Maker was celebrated with the sounding of the ‘Gong’ ceremony, since the bourse called it a “historic occasion in the history of Pakistani Capital Markets.”
In another related notice released on Monday, the KSE provided a list of instruments/stocks eligible for Market Making in Single Stock Cash Settled and Stock Index Futures.
The stock index futures related to the KSE-30 index while cash settled futures included the following 25 companies. Arif Habib Corp, Adamjee Insurance, Askari Bank, Attock Refinery, Bank Alfalah, Bank Al-Habib, D.G. Khan Cement, Engro Corporation, Engro Foods, Fatima Fertiliser, Fauji Fertiliser Bin Qasim, Fauji Fertiliser Company, Hub Power Company, LOTTE Pakistan, Lucky Cement, MCB Bank, NBP, Nishat Mills, OGDC, Pakistan Reinsurance Company, Pakistan Petroleum Company, Pakistan Oilfields, PSO, PTCL and UBL.

MOHAMMED SALEEM MANSOORI

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