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Sunday, 16 December 2012

STOCK MARKET UPDATE: 17.12.2012



STOCKS
Karachi Stocks Up 30.30 Points:
KARACHI, Dec 14: At the close of trading, the KSE-100 index was at 16836.88, up 30.30 points.

 (Today Market is 52.78 Up@ 11.32am)

December 14, 2012
 5 TOP GAINERS  &  LOOSERS:

Bata (Pak)
Rs 20.00
Nestle Pakistan
Rs (199.00)
UniLever Pak
Rs 19.52
Colgate Palmoliv
Rs (73.00)
Pak Int. Con
Rs 11.50
Island Textile
Rs (55.41)
Sitara Chemical
Rs 7.24
Siemens Pakistan
Rs (8.50)
Gatron Ind.
Rs 6.09
Grays of Cambridge
Rs (3.84)
Karachi stocks rise in cautious trading
KARACHI: Stocks rose on Friday, but the market remained dull as investors waited for a monetary policy announcement.
There was trading in banking stocks amid expectations of expected payouts and activity in cement stocks as traders anticipated a cut in interest rates from the state bank of Pakistan, said dealer Nausheen Kiran at Al-Hoqain Securities.
Around 174 companies closed higher while 158 closed lower, said a trader.
The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,845.09, up 0.23 percent or 38.51 points from the previous session.
Maple Leaf Cement rose 6.59 percent, or 0.93 rupee, to 15.05 per share while D.G. Khan Cement was up 0.29 percent, or 0.16 rupees, to 54.40 per share.
Stocks that fell included Jahangir Siddiqui, down 2.07 percent to 16.99 per share, and Engro Corp, which dropped 1.2 percent to 94.00 per share. (Reuters)
 Cement scrips lead rally on stock market
KARACHI, Dec 14: Stocks ended on a fresh record high on Thursday amid hopes of a cut in the key policy rate and the cement sector remained in the limelight as investors expect strong corporate profits, dealers said.
The State Bank of Pakistan cut its policy rate by 50 basis points to 9.5 per cent however the announcement came after the market had closed.
The KSE 100-share index ended 0.23 per cent, or 38.51 points, to record high of 16,845.09 points. The index made an all-time high at 16,875.00 but could not sustain those levels.
Turnover increased to 129.49 million shares, compared with 119.21m shares traded on Thursday. Trading value also rose to Rs4.09 billion from the previous day’s value of Rs3.31bn.
But market capitalisation fell marginally to Rs4.21 trillion from Rs4.22tr the day.
“The KSE 100-index closed at record peak amid higher trades with investor interest across leading sectors on hopes for a rate cut in the SBP policy announcement,” said Ahsan Mehanti from Arif Habib Ltd.
Dealers said that a cut of 50 basis points had already been incorporated in the market.
However the cement sector led the rally on expectations of healthy earnings for the first half of FY13 due to be announced in the coming weeks.
However, on a week-on-week basis, turnover fell by 43 per cent on concerns of the country’s macroeconomic situation as the rupee hit a record low at 97.98 to the dollar amid depleting forex reserves.
“With dull activity, local bourse closed at all-time high of 16,845 index level. Volumes fell by 43 per cent to 135m shares as investors remained uncertain on the quantum of interest rate cut.
However, investors remained bullish in cement stocks on expectations of healthy earnings for the quarter,” said Samar Iqbal, a dealer from Topline Securities Ltd.
Foreign investors sold shares worth a nearly a net $2m on Friday, compared with buying equities worth a net of $3.44m the previous day, bringing the total for the month to a net outflow of $3.07m.
Individuals were the major buyers in the market as they bought equities worth $2m.
The biggest gainer was Bata Pakistan which rose Rs20 to Rs1,490, followed by Unilever Pakistan which ended Rs19.52 higher at Rs10,020.
Nestle Pakistan witnessed the biggest loss for the day as it shed Rs199 to Rs4,701 followed by Colgate Palmolive which shed Rs73 to close at Rs1,427.
The KSE-30 index ended 0.25pc, or 33.95 points, higher at 13,637.59 and out of the 354 companies traded, the value of 174 increased, 158 decreased while 22 remained unchanged.
Among the 10-top traded stocks, Maple Leaf Cement rose 80 paisa to Rs14.92 on turnover of 21.3m shares, Jahangir Siddiqui Co Ltd fell 37 paisa to Rs16.98 on 8.51m shares and DG Khan Cement gained 16 paisa to Rs54.40 on 8.82m shares.
Fauji Cement ended higher by 9 paisa to Rs6.64 on 4.71m shares, Pak Elektron Ltd gained 27 paisa to Rs9.01 on 4.31m shares and Byco Petroleum shed 11 paisa to Rs11.31 on4.02m shares.
Bank of Punjab ended 13 paisa higher to Rs9.39 on 3.94m shares, Ghani Glass Ltd gained 93 paisa to Rs17.16 on 3.83m shares and Nishat Chunian ended Rs1.21 to Rs37.20 on 3.54m shares.
Engro Corporation shed Rs1.21 to Rs93.93 on turnover of 3.13m shares.
Company News:
Summit Bank: KARACHI: Summit Bank, one of the fastest growing Commercial banks of the country, has recently opened its 182nd branch at Dolmen Mall, Clifton.
MOHAMMED SALEEM MANSOORI

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