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Thursday, 20 December 2012

STOCK MARKET UPDATE: 21.12.2012



STOCKS
Karachi Stocks Up 45.95 Points:
KARACHI, Dec 20: At the close of trading, the KSE-100 index was at 16915.78, up 45.95 points.
(Today Market is 37.83 Up@ 11.26am)
December 20, 2012
 5 TOP GAINERS  &  LOOSERS:

Colgate Palmolive
Rs 49.98
Siemens Pak
Rs (8.00)
Unilever
Rs 24.47
Murree Brewery
Rs (6.99)
Mithchells Fruit
Rs 17.70
Al-Ghazi Tractors
Rs (6.23)
Bata Pak
Rs 15.00
Sitara Chemical
Rs (3.05)
Khyber Tobacco
Rs 5.39
Grays of Cambridge
Rs (3.00)

 KSE 100-index closes above 16,900

KARACHI, Dec 20: The bulls were in charge at the Karachi Stock Exchange on Thursday, with the KSE-100 index closing for the first time above the 16,900 points level. The index added another 38.19 points on Thursday with heavy volumes of 185 million shares.
The significant feature of the day’s trading, however, was the participation of second and third tier stocks in the lead of TRG Pakistan and Byco Oil Pakistan.
Together the two scrips contributed 30 per cent to the day’s aggregate turnover.

An early morning notice by TRG Pakistan stated that the company would apply to the London Stock Exchange for shares of its subsidiary, DG Services to be admitted for trading on AIM. Directors said they believed the proposed listing would provide the TRG with growth opportunity.
Byco Oil Pakistan announced the completion of the country’s largest oil refinery with an installed refining capacity of 120,000 barrels per day. Combined with existing operative refinery, the cumulative capacity would be 155,000 barrels per day. It will enhance overall crude oil refining capacity in the country from existing 12.25 to 18 million tons per year.
Both TRG and Byco closed at their ‘upper circuit’, gaining Re1.
Other than that, the market was greeted with a raft of positive news. Equity Dealer Samar Iqbal at Topline Securities said that on the main board activity remained confined towards fertiliser stocks, cement sector and Hub Power Company.
Ahsan Mehanti at Arif Habib Corp stated that the stocks closed higher led by telecom stocks on speculations ahead of auction on 3G licences; TRG, Byco news and hopes for release of $600 million US Coalition Support Fund were positive.
News reports of ECC approval for gas allocation to fertiliser sector was generally ignored, though it caused slight stir in selective scrips.
Analyst Hasnain Asghar Ali referred to the news flow and observed that cement stocks on growth stories and debt rescheduling maintained representation of the sector in the volume leader list. Stock swapping stayed prominent in fertilizer sector.
On Thursday, the KSE-100 index ended at 16,908.02 points and the KSE-30 market capitalisation based index gained 27.76 points to 13,737.08. There was only a slight gap between the winning and losing scrips with minus signs at 173, ahead of the plus at 167. Another 28 stocks stayed unchanged in total of 368 shares traded.
Turnover at 185 million shares showed sharp rise from 114 million shares traded the previous day. However, trading value slipped to Rs3.738 billion, from Rs4.267 billion, signifying investor interests in low-priced stocks. Market capitalisation stood at Rs4.238 trillion.
The gaining stocks were led by Colgate Palmolive which rose by Rs49.98 to Rs1399.98, followed by UniLever Pak up by Rs24.47 to Rs10,100. The two biggest losers were Siemens Pakistan down by Rs8 to Rs764 and Murree Brewery easy by Rs6.99 to Rs132.96.On the ten-volume leaders’ list, TRG stood at the top with 35m shares, up by Re1 to Rs5.03. Byco Petroleum also hit the ‘upper circuit’ with a gain of Re1 to Rs12.34 on 21m shares.
Maple Leaf Cement added 43 paisa to Rs15.29 on 15m shares; Lotte PakPTA was up 18 paisa to Rs7.54 on 9m shares; Fauji Cement edged higher by 3 paisa to Rs6.44 on 4m shares; Descon Oxychem rose by 65 paisa to Rs6.53 on 4m shares; NIB Bank was up by 12 paisa to Rs2.47 on 4m shares; Fauji Fertiliser steadier by 13 paisa to Rs114.44 on 4m shares.
Nishat (Chunian) conceded Rs1.64 to Rs35.76 on 4m shares and Engro Corporation stood down by Rs1.49 to Rs91.69 on 4m shares.
KSE 100-index gains 11 points : KARACHI: The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,869.83, 0.07 percent higher or 11.15 points.
Stocks closed slightly higher Wednesday, mainly supported by oil stocks.
Investors also booked profit in the Engro Corp as no major decision was taken to overcome gas shortages in the fertilizer sector, said dealer at Topline Securities.
Financial services company Jahangir Siddiqui rose 1.85 percent, or 0.30 rupee, to 16.52 per share while Fauji Fertilizer was up 0.37 percent, or 0.42 rupees, to114.45 per share.
Stocks that fell included Hub Power Co, down 0.41percent to 43.80 per share, and D.G. Khan Cement, which fell 0.51 percent to 54.65 per share.
In the currency market, the rupee strengthened, closing at 97.69/97.73 against the dollar, compared to Tuesday's close of 97.88/97.94.
The rally was a brief interlude in a mainly downward slide. The rupee is under pressure due to import and oil payments and may fall further due to a strong demand for the dollar from importers.
Overnight rates in the money market ended at 9.50 percent compared to Tuesday's close of 9.40 percent. (REUTERS)


MOHAMMED SALEEM MANSOORI

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