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Tuesday, 29 January 2013

STOCK MARKET UPDATE: 30.01.2013



STOCKS
Karachi Stocks Up 156.40 Points:
KARACHI, Jan 29: At the close of trading, the KSE-100 index was at 17161.39, up 156.40 points.
 (Today Market is 65.95Up@ 11.13 am)




January 28, 2013
5 TOP GAINERS  &  LOOSERS:

Shezan Inter.
Rs 19.47
Colgate Palmolive
Rs (72.50)
Pak.Int.Cont. SD
Rs 9.65
UniLever Pak
Rs (31.57)
Exide (PAK)
Rs 9.50
Mithchells Fruit
Rs (17.50)
Siemens Pakistan XD
Rs 8.50
Attock Petroleum Ltd
Rs (13.57)
Philip Morris Pak.
Rs 6.15
Indus Dyeing
Rs (12.63)

Index hits record closing amid result season
KARACHI, Jan 29: Stocks ended on a record closing on Tuesday as investors indulged in fresh buying amid hopes of healthy corporate earnings for the half year ended Dec 30, due to be announced in the coming days, and managed to end above the technical level of 17,000 points, dealers said.
The KSE 100-share index ended 0.98 per cent, or 167.05 points, higher at 17,172.04 points. It traded in a broad range as it made a fresh all time high at 17,181.39 and low at 16,990.58.
“The value buyers were again active in the frontline stocks, banking stocks on expectations of high cash and stock payouts led the way while cement front liners on results sensation along with E&P and fertiliser stocks followed the pursuit, the rally initiated by institutional participants found support from the sideliners thus keeping the momentum positive throughout the session, besides ensuring new historic levels,” said Hasnain Asghar Ali from Escorts Capital Ltd.
Turnover increased to 196.81 million shares, compared with 189.5m shares traded on Monday and trading value also rose to Rs5.99 billion from Rs5.13bn in the previous session.
Market capitalisation ended marginally higher at Rs4.28 trillion, compared from Monday’s Rs4.25tr.
The KSE-index had witnessed some selling above 17,000 points in the previous few sessions due to technical resistance but brokers said that they expect the index to consolidate and continue bull-run in the coming sessions.
Foreign investors were also active on Tuesday as they reverted back to being net buyers as they bought shares worth a net$3.47 million, compared with selling a net $350,603 on Monday, bringing the total for this month at a net $8.9m, according to data released by the National Clearing Company of Pakistan.
Dealers said MCB Bank remained in the limelight and gained Rs3.73 to end at Rs209.25, as investors are expecting a strong result.
“Telecommunication and cement sector also remained in the limelight while Engro and PSO also rose. Engro gained 4 per cent after ECC (Economic Coordination Committee) announcement of gas load management plan,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Investors also bought energy stocks as Oil and Gas Development Co Ltd closed Rs2.8 higher at Rs193.39 and Pakistan State Oil ended Rs4.36 higher at Rs229.32.
The biggest gainer was Unilever Food which ended Rs175 higher at Rs4,080, followed by Unilever Pakistan which closed Rs110.94 higher at Rs9,994.20. Nestle Pakistan witnessed the biggest loss as it shed Rs106.25 to Rs4,693.75, followed by Mitchell’s Fruit, which ended Rs11.50 lower at Rs321.
The KSE-30 index ended 1.06pc, or 147.96 points, higher at 14,044.29.
Out of the 360 companies traded, the value of 184 increased, 154 decreased while 22 remained unchanged.
The second and third tier companies dominated the 10 most active traded stocks, including companies from the telecom and cement sectors: Telecard Ltd topped the list as it ended 72 paisa higher at Rs3.43 on 34.71 million shares, Fauji Cement fell 17 paisa to Rs7.95 on turnover of 19 million shares but DG Khan Cement gained Rs1.24 to close at Rs55.57 on 13.24m shares.
Engro Corp increased by Rs3.8 to Rs95.60 on 11.37m shares, WorldCall Telecom rose 22 paisa to Rs2.65 on 8.8m shares and Jahangir Siddiqui Co Ltd shed marginally by one paisa to Rs16 on 8.3m shares.
Maple Leaf Cement ended 14 paisa higher at Rs17.64 on 8m shares, Byco Petroleum closed 17 paisa lower at Rs13.99 on 6.9m shares and Engro Foods gained five paisa to Rs105.25 on 5m shares.TRG Pakistan Ltd rose 30 paisa to Rs7.04 on volume of 4.9m shares.
KSE up by 167pts; rupee gains vs dollar: KARACHI: The main capital market closed higher on Tuesday, with buying triggered by expected healthy corporate results to be announced for December.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.98 percent, or 167.05 points, higher at 17,172.04.
Business conglomerate Engro Corporation gained 4.36 percent after the Economic Coordination Committee announced a new gas loading management plan, said a dealer.
Telecard Ltd was up 27.31 percent at 3.45 rupees.
Fauji Cement was down 2.09 percent at 7.95 rupees while Byco Petroleum fell 1.55 percent to 13.94 rupees.
In the currency market, the rupee ended at 97.64/97.69 against the dollar, stronger than Monday's close of 97.68/97.74.
Overnight rates in the money market were flat at 9.40 percent. (Reuters)

MOHAMMED SALEEM MANSOORI

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