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Thursday, 28 March 2013

STOCK MARKET UPDATE: 29.03.2013



STOCKS
Karachi Stocks Up 17.57 Points:
KARACHI, Mar 28: At the close of trading, the KSE-100 index was at 17943.71, up 17.57 points.
 (Today Market is 58.22 Up@ 10.36 am)
March 28, 2013
 5 TOP GAINERS  &  LOOSERS:

UniLever Pak
Rs 582.15
Indus Dyeing
Rs (20.99)
Nestle Pak
Rs 249.00
Pak Services
Rs (10.12)
Colgate Palmolive
Rs 82.91
Millat Tractors
Rs (4.69)
Unilever Food
Rs 60.00
PICT
Rs (4.00)
Bata Pak
Rs 41.00
Atlas Battery
Rs (3.46)

Stocks gain 21 points amid thin turnover
KARACHI, March 28: Stocks made modest gains on Thursday on a thin turnover that turned out to be 10-week low. The KSE-100 index rose by 21.62 points to 17,947.76 points.
Dealers said that the investors traded cautiously in fundamentally strong stocks. Institutional players remained sidelined waiting for the dust on the political ground to settle so that the steps to be taken on the matters of economy and law and order by the caretaker government were clearer.
For most investors, however, a stagnant market did not represent a red flag. “It is lack of triggers that the investor interest in equity trading is at a low ebb”, said a broker.
He said that it was to be noted that the market was still climbing north, though at a very slow pace.
Hasnain Asghar Ali at Escorts Capital commented that shares in the equity market floated aimlessly. Day traders did participate, but could hardly buffer up volumes. Sector and stock swapping kept the front line stocks marginally active while portfolio adjustments were seen to be made with economic issues in view.
Moreover, the ongoing judicial hearings and likely convictions that may create law and order situation and political fallout was a popular assumption, which added to the investor nervousness.
The presence of values, on the other hand, restricted any major adjustment despite stagnation and declining volumes.
Ahsan Mehanti at Arif Habib Corp said that the stocks closed higher amid thin trade led by cement and telecom stocks on strong valuations. Higher global commodities on strong US data, rising oil production data for Makori fields of local exploration companies, announcement of greenfield cement project investment by DG Khan Cement, easing political outlook were positives for investors.
Speculations on CPI Inflation data for March and institutional support ahead of quarter end close played a catalyst role in higher closing at the market amid concerns for rising circular debt issues in energy sector and uncertainty over economic impact of IMF loan repayments.
The official figures released on Thursday showed that the foreigners continued to pick up value scrips with net purchases at $0.94 million. Among the local Participants, individuals led buyers with $2.79 million and mutual funds picked up stocks valued at $0.01 million.
On the sell side, companies offloaded stocks worth $2.05 million and banks sold stocks valued at $0.45m.
The market capitalisation based KSE-30 index dipped 27.86 points to 14,161.71 points. Market capitalisation rose by Rs23 billion to Rs4.406 trillion on Thursday, from Rs4.383tr the previous day.
Turnover dived to 101 million shares, from 148m shares that changed hands on Wednesday and the trading value stood reduced by about a half to Rs2.554bn on Thursday, from Rs5.025bn the previous day.
The two top gainers for the day were UniLever Pak up by Rs582.15 to Rs12,225.21. Nestle Pakistan also was a big gainer of Rs249 to Rs5,499. On the declining side, Indus Dyeing was down by Rs20.99 to Rs428, followed by Pakistan Services lower by Rs10.12 to Rs194.88.
The volume leaders were PIA up by 12 paisa to Rs7.23 on 21m shares. Wateen Telecom gained 23 paisa to Rs3.84 on 7m shares, Lotte PakPTA declined by 8 paisa to Rs7.23 on 6m shares, PTC added 20 paisa to Rs19.90 on 5m shares and TRG Pakistan edged higher by one paisa to Rs7.46 on 4m shares.
Jah Sidd Co trading spot, declined by 19 paisa to Rs13.82 on 3m shares; Maple Leaf Cement was up by 8 paisa to Rs16.76 on 3m shares, NIB Bank rose 14 paisa to Rs2.30 on 3m shares, Adamjee Insurance plunged by Rs2.02 to Rs70.04 on 3m shares and Telecard Limited rose three paisa to Rs5.56 on 2m shares.
Pakistan stocks soar on aviation stocks; telcos help: KARACHI: Karachi Stock Exchange (KSE) made modest gains amid thin trade with trade here on Thursday, Geo News reported.
The benchmark KSE-100 Index accumulated 0.28 percent, or 49.86 points, to close higher at 17,947.76 points before the closing bell rang.
According to market reports aviation and telecom stocks were the drawing cards of the day, which saw the trading volumes plunge to a 10-week low.
Supreme Court of Pakistan’s final decision on a case over international calling rates gave telecoms a needed boost, as a result Pakistan Telecommunication Company Ltd jumped by 1.02 percent to Rs19.90.
On the other hand Pakistan International Airline Corporation jumped by 1.97 percent to Rs7.25.
Company News:
Banks declare profits: KARACHI, March 28: Three banks including National Bank of Pakistan (NBP), Soneri Bank and MCB Bank declared profits on Thursday for the financial year ending December 31, 2012.
The National Bank of Pakistan held its 64th Annual General Meeting attended by the shareholders in the presence of President and CEO, Dr Asif A Brohi and board members Shahid Aziz Siddiqui and Tariq Kirmani, a press release said.
Brohi shared the bank’s performance during the year including the initiatives taken by the management as well as the challenges being faced.
The president highlighted the fact that Central bank reduced its policy rate by 250 basis points (bps) in 2012 making total reduction of 450 bps in the last 15 months.
The State Bank of Pakistan increased the minimum profit rate on deposit from 5 per cent to 6 per cent. Due to these factors the bank’s interest margin like all other banks remained under pressure.
“This reduction was partially offset through volume growth and improving deposit mix. After-tax-profit stood at Rs16.2 billion, consequent to the adjustment in discount rate. Total assets of the bank increased to Rs1.31 trillion at the year end, up by 14 per cent from year end 2011. The bank’s total deposits increased by Rs110bn or 12 per cent,” the press release added.
Meanwhile, the 65th Annual General Meeting of MCB Bank shareholders approved the recommendation of board of directors for final cash dividend at 30 per cent and 10 per cent bonus issue, a press release said.
The bank reported profit before tax of Rs32.054bn and profit after tax of Rs20.941bn with an increase of 2 per cent and 8 per cent, respectively.
Net markup income of MCB was reported at Rs40.856bn whereas non-markup income came to Rs9.153bn. Non-markup income registered an increase of Rs1bn (13 per cent) owing to 16 per cent increase in fee, commission and brokerage income and 19 per cent increase in dividend income during the year.
Earnings per share (EPS) for the year came to Rs22.77

MOHAMMED SALEEM MANSOORI

Wednesday, 27 March 2013

STOCK MARKET UPDATE: 28.03.2013

STOCKS
Karachi Stocks Up 25.75 Points:
KARACHI, Mar 27: At the close of trading, the KSE-100 index was at 17897.90, up 25.75 points.
(Today Market is 42.82 Up@ 11.02 am)


March 27, 2013
 5 TOP GAINERS  &  LOOSERS:

Uniliver Pak
Rs 543.06
Colgate Palmolive
Rs (86.80)
Nestle Pak
Rs 250.00
Fazal Textile
Rs (11.53)
Attock Refinery
Rs 8.21
Indus Motor Co
Rs (10.00)
Pak Services
Rs 7.85
Philip Morris
Rs (8.98)
Shell Pak
Rs 5.74
Sanofi Aventis
Rs (7.00)

Equity prices rise amid cautious trading
Karachi, March 27: Lacklustre trading was witnessed at the stock market on Wednesday, however the KSE-100 index managed a gain of 53.99 points to close at 17,926.14. The tone was cautious.
The benchmark moved between the high at 18,003.71 points and low at 17,872.15 points. Many analysts thought that the 18,000 could turn out to be strong resistance level which could be breached only after a sharp upturn in activity. Yet in the face of volatility, day traders and punters decided to try and make quick profits; though many had to lose in the face of highly patchy market trend.
Dealers said that institutional investors remained sidelined in the absence of triggers and the uncertainties of the future government and its policies. “We may witness the market to drag along until the May 11 elections”, a broker said.
Khalil Usmani at the JS Global observed that trading volume was low. The PTC received some pounding after the Supreme Court once again directed the Competition Commission of Pakistan to resolve the ICH case. The next hearing is scheduled for April 1, 2013. The cement sector lost values in anticipation of coal price hike.
Manager Equity Sales, Topline Securities stated that with increased production from the Tal Block, buying interest was seen in oil stocks, which helped index to recover. Conflicting news on local cement prices affected cement stocks. Slightly negative outcome on the telecom front from the recent court hearing kept the PTC under pressure.
Ahsan Mehanti, analyst at Arif Habib Corp stated that the stocks closed higher led by the oil sector after global commodities and stocks recovered on strong US data. Sentiments remained bullish after consensus on Punjab caretaker setup and renewed institutional interest in fertilisers and oil stocks on strong valuations. Speculations ahead of the CPI Inflation data for
March ‘13 and consolidation in blue chip stocks ahead of quarter end close, played a catalyst role in higher close at the KSE amid concerns for circular debt issues in energy sector and rumors of expected CCP action against telecom and cement sector cartels.

The market capitalisation based KSE-30 index was up by 24.26 points to 14,189.57 points. Turnover was slightly lower on Wednesday at 148 million shares, from 149.6m shares traded the previous day. Yet the trading value rose to Rs5.025 billion, from Rs3.829bn. Market capitalisation saw addition of Rs22bn to Rs4.383 trillion, from Rs4.361trn. In all, 320 stocks attracted investor interest with 139 ending in positive and 156 in negative territory. Another 25 closed at their previous values.
The biggest gainers for the day included UniLever Pakistan, up by Rs543.06 to Rs11,643.06, followed by Nestle Pakistan higher by Rs250 to Rs5,250. On the declining side, Colgate Palmolive plunged by Rs86.80 to Rs1,658.20 and Fazal Textile was up by Rs11.53 to Rs219.08.
On the 10-top active list, a total of 12m shares changed hands in PIA, down by 29 paisa to Rs7.11. It was followed by the PTC lower by six paisa to Rs19.70 on 12m shares; Lotte PakPTA declined by 30 paisa to Rs7.31 on 11m shares; Maple Leaf Cement dipped by 52 paisa to Rs16.68 on 10m shares; TRG Pakistan slipped 15 paisa to Rs7.45 on 8m shares; Telecard Limited edged higher by 9 paisa to Rs5.53 on 7m shares; D.G. Khan Cement lost 90 paisa to Rs68.16 on 7m shares; Wateen Telecom added
13 paisa to Rs3.61 on 6m shares; Fauji Cement declined by 9  paisa to Rs8.33 and Jah.Sidd.Co. was up by 21 paisa to Rs14.01 on 4m shares.

Karachi Stock Exchange cuts a sorry figure: KARACHI: Pakistan’s apex bourse, Karachi Stock Exchange, (KSE) went down by 0.50 percent Tuesday, Geo News reported.
Benchmark KSE-100 Index settled down at 17,872.15 mark after losing 89.76 points.
The index heavyweight Oil & Gas Development Company Ltd shed 1.55 percent to close at Rs200.99, whereas banking giant, Muslim Commercial Bank Ltd, lost 0.67 percent to reach Rs190.47.

Company News:
UniLever buyback fixed at Rs15,000: KARACHI, March 27: The Karachi Stock Exchange has fixed the buyback price of shares held by the public in UniLever Pakistan at Rs15,000 per share.
Unilever Pakistan, the biggest fast moving consumer goods company on the stock exchange, had announced on Nov 27 last year that the UK parent intended to buy-back all shares in order to take its stake to 100 per cent.
UniLever is to seek (voluntary) de-listing from the stock exchanges. The company had put the offer price at Rs9,700 per share.
A notice released by the KSE on Wednesday stated that the Committee constituted by the board of directors of the KSE to consider the buy-back “had detailed discussions with the representatives of the sponsors.”
It stated: “After deliberating the relevant aspects under the relevant listing regulations (the committee) recommended to fix the minimum purchase price at Rs15,000 per share against the offer of the sponsors of Rs9,700 per share.”
The notice went on to say: “Under the Listing Regulation No.30-D (IV), the Sponsors of UniLever Pakistan Limited will be required to convey their acceptance/refusal to the purchase price approved by the exchange within seven days of the date of this notice”.
A very thinly traded share, UniLever Pakistan was listed at the stock exchanges in 1980. At the face value of Rs50, UniLever currently quoted at Rs11,100, is the most expensive stock on the country’s exchanges. With paid-up shares at 13.29m, Unilever Pakistan is valued at around Rs148bn, based on latest stock price.
The parent Unilever Overseas Holdings Limited is already in possession of 75.07pc of the total issued shares in Unilever Pakistan. If and when the buy-back deal goes through, the parent would mop up 3.31m shares held by the public (in case all shareholders exercise their option).
At the buy-back price anywhere between the sponsor’s offer and the minimum price fixed by the exchange, UniLever would have to pay a cool sum of somewhere between Rs32 billion and Rs47bn to the public. That would clearly mark UniLever Pakistan’s buy-back as the biggest share repurchase transaction in the corporate history of Pakistan.


MOHAMMED SALEEM MANSOORI

Tuesday, 26 March 2013

STOCK MARKET UPDATE: 27.03.2013



STOCKS
Karachi Stocks Down 81.39 Points:
KARACHI, Mar 26: At the close of trading, the KSE-100 index was at 17880.52, down 81.39 points. 
 (Today Market is 77.24 Up@ 10.27 am)
March 26, 2013
 5 TOP GAINERS  &  LOOSERS:

Unilever Pak
Rs 190.00
Bata Pak
Rs (66.00)
Sanofi Aventis
Rs 16.00
Fazal Textile
Rs (12.13)
Philip Morris
Rs 14.46
Gatron Inds
Rs (9.50)
Mithchells Fruit
Rs 11.50
Clariant Pak
Rs (7.36)
Service Industries
Rs 4.85
Indus Dyeing
Rs (7.01)

KSE 100-index sheds 90 points
KARACHI, March 26: Share prices dropped on the stock market on Tuesday where the KSE-100 index plunged 89.76 points or 0.50 per cent to 17,872.15 points.
Dealers said that the declining volumes showed investors’ disinterest towards equity trading in the current murky political situation. The market was looking for triggers. Fearing a further fall, short term investors resorted to profit-taking in stocks which had outperformed the market in the recent weeks.
The oil and gas and fertliser sectors took the brunt of the blow with all major scrips showing a considerable decline. The heavy-weight OGDC fell by Rs3.36, which alone contributed more than 60 points to the day’s index decline.
Mutual funds offloaded equities worth $2.80 million, though banks bought $1.55 million worth equity. Individuals generally remained sidelined. The foreign portfolio inflow on Tuesday was recorded at $0.28 million. Banks suffered further
pruning.

With elusive capital gains, investors turned to high dividend yielding stocks, such as Hub Power and Fauji Fertiliser, an equity dealer said.
Analyst Mujtaba Barakzai at JS Global stated that the KSE-100 index closed down 0.5 per cent on Tuesday, from an intra day high of 0.1 per cent, after profit taking was witnessed.
Appointment of the Punjab caretaker chief minister and selection of care taker finance minister were major issues of discussion among investors at the market.
Ahsan Mehanti at Arif Habib Corp commented that bearish activity was witnessed at KSE amid worries over the economic uncertainty in the interim government setup. Consolidation continued in blue chip stocks ahead of quarter end close.
Activity was led by second and third tier stocks amid concerns for security situation in the city, rising circular debt issues in energy sector and limited foreign interest ahead of IMF repayment due this week despite recovery in global stocks and commodities.
The market capitalisation based KSE-30 index lost 82 points to 14,165.31 points. Volume of business was recorded at 150 million shares, down from 154 million shares traded the earlier day.
Trading value plunged by 21 per cent to Rs3.829 billion on Tuesday, from a day ago trading value at Rs4.847 billion. Market capitalisation stood reduced by Rs25 billion to Rs4.361 trillion, from Rs4.386tr.
The biggest gainers for the day were UniLever Pak up by Rs190 to Rs11,100 and Sanofi-Aventis higher by Rs16 to Rs377. Steep fall of Rs66 to Rs1,259 was seen in Bata (Pak) followed by drop of Rs12.13 in Fazal Textile which closed at Rs230.61.
Other big gainers were Philip Morris, Mitchell’s Fruit Farms and Service Industries, while noticeable stocks on the loss side were Gatron Industries, Clariant Pak and Indus Dyeing.
A total of 314 stocks came up for trading on Tuesday, of which 116 were plus signs; 179 minus and 19 unchanged.
On the 10-top active scrips’ list, PIA came in for brisk trading with 39m shares, up by 58 paisa to Rs7.40. TRG Pakistan was down 21 paisa to Rs7.60 on 12m shares, Fauji Cement slipped 11 paisa to Rs8.42 on 11m shares and Lotte PakPTA added 31 paisa to Rs7.61 on 8m shares.
Maple Leaf Cement slid 34 paisa to Rs17.20 on 8m shares, Engro Corporation lost 85 paisa to Rs130.03 on 5m shares, D.G. Khan Cement conceded 83 paisa to Rs69.06 on 4m shares, Dewan Motors was up by 14 paisa to Rs3.77 on 4m shares, Nishat Mills was down by 22 paisa to Rs83.47 on 3m shares and Dewan Cement gained 13 paisa to Rs5.27 on 3m shares.
Karachi Stock Exchange cuts a sorry figure: KARACHI: Pakistan’s apex bourse, Karachi Stock Exchange, (KSE) went down by 0.50 percent Tuesday, Geo News reported.
Benchmark KSE-100 Index settled down at 17,872.15 mark after losing 89.76 points.
The index heavyweight Oil & Gas Development Company Ltd shed 1.55 percent to close at Rs200.99, whereas banking giant, Muslim Commercial Bank Ltd, lost 0.67 percent to reach Rs190.47.
Company News:
Bank Al Habib declares dividend: KARACHI, March 26: The Annual General Meeting of Bank Al Habib was held in Multan on Tuesday where shareholders approved the annual accounts for the year ended December 31, 2012. Payment of 30 per cent cash dividend (final) was also approved.
Deposits of the bank, as on December 31, 2012, stood at Rs340.393 billion, while profit after tax was Rs5.447bn.

MOHAMMED SALEEM MANSOORI