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Monday, 11 February 2013

STOCK MARKET UPDATE: 12.02.2013



STOCKS
Karachi Stocks Up 80.41 Points:
KARACHI, Feb 11: At the close of trading, the KSE-100 index was at 17558.35, up 80.41 points. 
(Today Market is 70.04 Up @ 11.24 am)

February 11, 2013
 5 TOP GAINERS  &  LOOSERS:

Rafhan Maize Prod.
Rs 50.00
UniLever Pak
Rs (105.00)
Bhanero Tex.
Rs 12.85
Colgate Palmolive
Rs (25.00)
Khyber Tobacco
Rs 5.68
Indus Dyeing
Rs (14.63)
Mehmood Textile
Rs 4.37
Exide (PAK)
Rs (12.65)
Millat Tractors
Rs 4.11
Mithchells Fruit
Rs (11.00)

Stocks settle above 17,500-level
KARACHI, Feb 11: Stocks ended on a record closing on Monday above the technical barrier of 17,500 points, led by foreign buying in the energy sector specifically the heaviest-weighted share on the index Oil and Gas Development Co Ltd (OGDCL), dealers said.
The KSE 100-share index ended 0.40 per cent, or 70.60 points, higher at 17,548.58 points.
It made a fresh all-time high at 17,593.80 points and an intra day low at 17,477.94 points.
Turnover rose to 278.25 million shares, compared with 269.37 million shares traded on Friday and trading value increased by over Rs1 billion to Rs6.54 billion from Rs5.42bn in the previous trading session.
Market capitalisation stood at Rs4.4 trillion from Friday’s Rs4.38 trillion.
“Rally in local stock market continued with key benchmark index crossing yet another physiological mark of 17,500. Index gain mainly led by heavy weight OGDC which gained over three rupees,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Blue chip OGDCL ended RS3.26 higher at Rs198.75 and Pakistan Oilfields gained Rs2.87 to close at Rs477.33.
Foreigners remained net buyers as they bought shares worth a net $2.63 million on Monday, compared with a net buying of $757,957 on Friday, bringing the total net buying for the month at $4.54m. The total for January stood at net buying of $15.42m. Companies were the biggest sellers with equity worth $2.46 million.
DG Khan Cement (DGKC) announced 1HFY13 EPS of Rs6.65, showcasing mammoth growth in earnings compared to EPS of Rs2.92 last year due to high local cement prices, however the result was below market expectations which caused the company’s share to decline by 52 paisa to Rs55.49.
The State Bank’s decision to keep its key policy rate unchanged at 9.5 per cent for the subsequent two months proved to be a non event on the local bourse as it
was according to market expectations.
The biggest gainer was Rafhan Maize which ended Rs50 higher at Rs3,600, followed by Bhanero Textile which closed Rs12.85 higher at Rs269.85. UniLever Pakistan Ltd witnessed the biggest loss as it shed Rs105 to Rs10,400, followed by Colgate Palmolive, which ended Rs25 lower at Rs1,500.
The KSE-30 index ended 0.52pc, or 74.29 points, higher at 14,325.44.
Out of the 363 companies traded, the value of 178 increased, 157 decreased while 28 remained unchanged.
The telecom sector once again dominated the 10 most active traded stocks although investors chose to book profits in those shares: Jahangir Siddiqui Co topped the list as it shed 26 paisa to Rs17.78 on turnover of 25.5 million shares, Maple Leaf rose 75 paisa to close at Rs18.05 on 24.49m shares and Pakistan Telecommunications Co Ltd fell 13 paisa to close at Rs19.87 on 17.27m shares.
Pakistan International Airlines ended 7 paisa higher at Rs4.50 on 16.99m shares, WorldCall Telecom ended 24 paisa lower at Rs3.38 on 16.1m shares, gained 14 paisa to Rs7.97 on 11.72m shares and Nimir Ind Chemicals ended unchanged at Rs3.81 on 19.23m shares.
TRG Pakistan Ltd fell 16 paisa to Rs8.26 on 10.05m shares, Telecard Ltd ended 4 paisa lower at Rs4.93 on 9.89m shares and Lotte PakPTA increased 20 paisa to close at Rs7. 85 on 7.69m shares.


Company News:
DGK Cement profit jumps 127pc: KARACHI, Feb 11: D.G. Khan Cement, the second largest cement company in the country, unveiled financial figures for the first half of financial year 2013 (1H13) on Monday; Lucky Cement having already announced its financial results earlier.
DG Khan reported a mammoth growth of 127 per cent in profit after tax (PAT) to Rs2.913 billion, represented earning per share (eps) at Rs6.65, from Rs1.279 billion and eps at Rs2.92 in the previous year’s comparable half.
The earnings, however, were thought to be lower than consensus expectations and the market price of the stock shed 52 paisa to close at Rs55.49 on a volume of 70 million shares in trading on Monday.
The Board of directors skipped an interim dividend, which was in accordance with the previous years’ trends.
The slight downside in earnings over forecasts was widely believed to be due to higher than anticipated effective tax rate in second quarter 2013 (2QFY13).
Analysts said that higher PAT in the latest half year, primarily stem from gross margins, which edged higher to 39 per cent, amid high cement prices particularly on the domestic level and depressed coal prices; the latter showing average decline of 21.7 per cent year-on-year to $87 per ton.
Sales grew 11 per cent to Rs11.8 billion for July-Dec 2012 (1HFY13), from Rs10.7 billion. Local sales rose by 6 percent YoY to 1.367 million tons during 1HFY13.
The demand growth in the North and aggressive PSDP utilisation assisted rise in local sales. That, coupled with average 8 per cent hike in cement prices in the North to Rs440 per bag pushed net sales up by substantial margin.
Administrative expenses rose to Rs188 million, from Rs120 million while selling distribution expenses decreased to Rs0.888 million from Rs1.2 billion. Other income improved to Rs773 million from Rs650 million. The growth attributable to dividends received from sister concerns, Nishat Mills Limited at Rs3.50 per share and Nishat Chunian Mills Limited Rs1.50 per share. Financial charges declined 35 per cent to Rs577 million from Rs886 million, which helped lift bottom-line.
KSE crosses 17,500 mark : KARACHI: Pakistan's stock market closedhigher on Monday after crossing the 17,500 mark for the first time, partially fueled by gains made in the energy and textile sector as they benefited from a weaker rupee.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.40 percent, or 70.60 points, higher at 17,548.54.
The gain was mainly led by the state-run Oil and Gas Development Company, which gained four rupees per share.
Although around 600 companies are listed on the exchange, less than ten percent of them see regular trading. Top companies include state-run oil and gas companies, banking companies and a few textile companies.
Both the oil and gas companies and the textile industry are benefiting from the rupee's depreciation against the dollar. The energy companies post their profits in dollars, and textile exporters find the rupee's slide makes their wares more competitively priced internationally.
A lower than expected result of D.G. Khan Cement caused its share price to decline marginally, said dealer Samar Iqbal at Topline Securities.
Maple Leaf Cement rose 4.8 percent to 18.13 rupees. Pakistan Telecommunication Corporation fell 1.15 percent to 19.77 rupees.
MOHAMMED SALEEM MANSOORI

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