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Thursday, 28 February 2013

STOCK MARKET UPDATE:01.03.2013



STOCKS
Karachi Stocks Up 107.63 Points:
KARACHI, Feb 28: At the close of trading, the KSE-100 index was at 18188.54, up 107.63 points.
 (Today Market is 119.32 Up@ 10.50 am)
February 28, 2013
 5 TOP GAINERS  &  LOOSERS:

Rafhan Maize Pro
Rs 179.95
UniLever Pak
Rs (350.00)
Sanofi-Aventis
Rs 17.00
Fazal Textile
Rs (14.89)
Bhanero Tex.
Rs 13.95
Indus Dyeing
Rs (11.85)
National Refinery
Rs 10.24
PICT
Rs (7.81)
Philip Morris
Rs 8.61
Blessed Textile
Rs (5.84)


Stocks add 93 points to overnight record
KARACHI, Feb 28: Share prices amassed gains on Thursday, the last trading day of the month, as the KSE-100 index galloped 0.51 per cent or by 92.76 points to close at its new all-time high at 18,173.67 points.
The market capitalisation based KSE-100 index added 0.28 per cent or 41.02 points to settle at 14,874.17 points. Strong gains in high valued stocks where refineries; the two heaviest weighted stocks OGDC and MCB Bank and the gains for the third consecutive day in for the fertiliser stock, Engro, caused market to remain bullish for yet another day on Thursday.
Foreign investors played a major role in lifting sentiments. The figures released in the evening showed net foreign inflow at a huge $5.72 million. It was supported by the stock purchases of the value of $5.72 million by ‘companies’.
Although major selling of $6.99 million and Mutual Funds amounting to $5.75 million did impact the market; the bulls were clearly in command till the end. The index oscillated between the highest at 18,214.99 points and lowest at 18,080.91 points.
Ahsan Mehanti at Arif Habib Corporation commented that the strong momentum was led by selected blue-chip stocks across the board on
strong earnings.
Together with it, the rising global stocks and commodities on healthy US housing data, ECC approval for Rs49bn guarantees to PIA, expected hike in Oil Marketing Companies margins and strong textile sector exports data played a catalyst role in bullish sentiments at KSE.

Turnover increased to 318 million shares worth a high Rs9.5 billion on Thursday, from 270 million shares with trading value at Rs7.3 billion the previous year. Market capitalisation rose to Rs4.515 trillion, from Rs4.495 trillion.
In all 369 stocks came in for trading on Thursday, representing 155 stocks closing in the positive against a larger number of 192 stocks in the negative. It evidenced gains in fewer but high index-weighted stocks.
The two top gainers for the day were Rafhan Maize Products, up by Rs179.95 to Rs3,929.95, followed by increase of Rs17 in price of Sanofi-Aventis to Rs357. The biggest losers were UniLever Pakistan, down by Rs350 to Rs10,450 and Fazal Textile lower by Rs14.89 to Rs283.10.
On the top-ten active list, Telecard recorded the highest volume of 56m shares, up by a paisa to Rs 7.41. It was followed by PIA, which closed at upper circuit gaining Re1 to close at Rs6.32 on 42m shares, PTC, after flexing muscles earlier in the session, stood down by 9 paisa to Rs23.4 on 29m shares.
Engro Corporation was again a major gainer of Rs4.29 to Rs121.19 on 17m shares, Azgard Nine was up 31 paisa to Rs8.76 on 14m shares, Fauji Cement was firmer by 8 paisa to Rs7.92 on 9m shares, Maple Leaf Cement, another speculative stocks for day traders and punters went against the market trend shedding 40 paisa to Rs17.88 on 8m shares, D.G. Khan Cement added 56 paisa to Rs63.01 on 8m shares, Byco Petroleum was up by 21 paisa to Rs13.25 on 8m shares and Lafarge Pakistan, the side board cement stock lost 9 paisa to Rs5.74 on7m shares.
Banks buy Karachi Stock Exchange up: KARACHI: Pakistan's stock market closed higher on Thursday, supported by Muslim Commercial Bank and Engro Corporation, traders said.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.51 percent, or 92.77 points, higher at 18,173.67.
Food and fertilizer company Engro Corporation rose 3.51 percent to 121 rupees, while Muslim Commercial Bank was up 5 percent to 235.41 rupees.
In the currency market, the rupee ended weaker, at 98.14/98.19 against the dollar, compared to Wednesday's close of 98.09/98.14.
Overnight rates in the money market remained flat at 9.40 percent.
KSE-100 index gains 931 points in February
KARACHI, Feb 28: The benchmark KSE-100 index took a giant leap of 5.4pc or 931 points in February 2013, marking ninth consecutive month (from June 2012 to Feb 13) of an incessant bull-run.
In the nine months, market rallied 32pc with market capitalisation soaring to $46bn.
“This continuous positive monthly gain for nine months has happened for the first time since inception of KSE-100 Index in 1991 and surpasses previous best eight consecutive months witnessed during August 2005 to March 2006, where the market cumulatively gained 60pc,” says Nauman Khan, analyst at Topline Securities. The investor confidence had received a big boost by a significant reduction in the policy rate of 450bps since July, 2011 and active foreign buying ahead of elections.
During February, average traded volumes improved to Rs7.3bn ($74m) up 79pc from January and were better than the previous 12-month average of Rs4.8bn ($51m).
The analyst noted that the market posted average daily turnover at 285m shares in February, up 78pc from 160m shares recorded in January.
The turnover was the highest since April 2012. The individual investors’ participation improved to 51pc in February, better than 12-month average, as larger number of investors flock back to the market.
Another key factor that helped the Pakistan market to maintain its positive momentum was continuous foreign inflows which amounted to $29 million in February.

Company News:
Corporate results: KARACHI, Feb 28: Several companies announced financial results on Thursday, which happens to be the fag end of the announcement season. Some of the figures unveiled were:
SSGC: The company  posted profit after tax (PAT) at Rs1.0 billion and earnings per share (eps) at Rs1.19 for the six months ended Dec 31, 2012, compared with PAT at Rs 1.5 billion and eps at Rs1.75 for the same period in 2011.
Bestway Cement: The company announced profit after tax (PAT) at Rs2.19 billion, translating into earnings per share (eps) at Rs3.79 for the six months ended Dec 31, 2012, from PAT at Rs725 million and eps at Rs1.25 in the corresponding period the year earlier.
Atlas Insurance: PAT was up to Rs363 million and eps at Rs6.81 for the year ended Dec 31, 2012, from Rs302 million and eps at Rs5.67 the previous year.
The Board distributed handsome cash dividend at Rs4 (40 pc) per share, along with bonus issue at 20 pc (one-for-five shares)
JS Global Capital: The company reported PAT at Rs290 million and eps at Rs 6.81 for the 18-months ending Dec 31, 2012 taking a huge jump from Rs89 million (eps: Rs 1.78) earned in the previous similar period. The board distributed final cash dividend at Rs3 per share, in addition to interim dividends already paid at Rs3.50 per share.

MOHAMMED SALEEM MANSOORI

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