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Tuesday, 9 April 2013

STOCK MARKET UPDATE: 10.04.2013



STOCKS
Karachi Stocks Up 47.30 Points:
KARACHI, Apr 10: The KSE-100 index was at 18760.91, up 47.30 points. 

(Today 10th April- Market is 68.73 Up@ 11.28 am)

April 9, 2013

 5 TOP GAINERS  &  LOOSERS:

Unilever Food
Rs 232.40
Colgate Palmolive
Rs (51.00)
Rafhan Maize
Rs 198.97
Shezan Int’l
Rs (22.60)
Bata Pak
Rs 78.75
Sunrays Textile
Rs (10.75)
Wyeth Pak
Rs 51.59
Exide Pak
Rs (5.81)
Shield Corp
Rs 12.00
Clariant Pak
Rs (5.51)

Equities add 60 points on foreign buying
KARACHI, April 9: The proceedings at the stock market remained dull on Tuesday, though sprint in the price of Engro Corporation less than an hour before the close of trading, triggered some excitement.
The KSE-100 index managed to breach the 18,700-level and close at 18,713.61 points with a gain of 60.55 points for the day. Foreign portfolio inflow of a sizeable sum of $2.79 million on Tuesday appeared to be the driving force that pushed the index higher, though on comparatively low volumes.
Dealers at the Arif Habib Equity sales said that investors were waiting for the upcoming SBP Monetary policy where the rates were expected to remain unchanged. The lack of stimulus might be offset by the corporate results announcements which would begin on Wednesday with the results of Bawany Air Products, dealers pointed out.
Samar Iqbal, Manager Equity Sales at Topline Securities, stated that the market closed above 18,700-mark on optimism about healthy March quarter results. Renewed buying interest was seen in Engro Corporation amid hopes of additional gas supply. While cherry-picking was also witnessed in telecom and cement stocks.
Zulqarnain Khan at NEXT Capital observed that the Index remained in the consolidation phase to prepare for the momentum of its near-term peak of 19,000 points.
Investors took the political events in stride as the process towards the election on May 11 was thought to be on track.
There was not much in the news bag though the market was comforted by the potential increase of eight per cent year-on-year in the inward workers’ remittances, which were visualised to settle above the $14 billion for the fiscal year ending June 30, 2103.
The benchmark moved between the high at 18,732.79 points and low at 18,653.06 points.
The market capitalisation based KSE-30 index rose 53.72 points to 14,604.83 points.
In all, 372 stocks came up for trading on Tuesday with 192 gainers, 154 losers and 26 remaining unchanged.
Turnover was up by marginal three per cent to 128 million shares on Tuesday, from 124 million shares the previous day. Trading value, however, jumped by 52 per cent to Rs5.494 billion, from Rs3.623bn, as some heavy-weight stocks in the oil, banking and fertliser sectors attracted buyers.
Among the local participants, ‘individuals’ were the sole buyers in the small sum of $0.42 million. ‘Companies’ sold $0.56 million worth equity, ‘banks’ showed net sell at $0.34 million, ‘mutual funds’ $0.82 million and ‘other organisations’ offloaded equity worth $1.50 million.
Market capitalisation increased by Rs14bn on Tuesday to Rs4.608 trillion, from Rs4.594tr.
The two biggest gainers were Unilever Food up by Rs232.40 to Rs4,880.40 and Rafhan Maize higher by Rs198.97 to Rs4,178.47. The laggards were Colgate Palmolive down by Rs51 to Rs1,999.00 and Shezan International lower by Rs22.60 to Rs429.40.
On the 10-top active list, Engro Corporation saw brisk trading in 15m shares up by Rs5.76 to Rs142.06. Wateen Telecom gained 11 paisa to Rs4.46 on 11m shares, Maple Leaf Cement was firmer by 27 paisa to Rs19.32 on 8m shares, Pak Elektron closed at its previous value of Rs10.05 with trading seen in 6m shares.
Lafarge Pakistan was up 9 paisa to Rs6.99 on 6m shares; Jah Sidd Co, down by 51 paisa to Rs12.66 on 5m shares, PTCL saw addition of 10 paisa to Rs21.37 on 4m shares, Fauji Cement up 7 paisa to Rs8.69 on 3m shares, BankIslami Pakistan lower by 23 paisa to Rs6.16 on 3m shares and Engro Polymer gained 25 paisa to Rs11.41 on 3m shares.

Company News:
HBL: KARACHI, April 9: HBL has joined hands with Metro-Habib Cash & Carry to provide customised end-to-end technology driven banking solutions, a press release said. Head of Payment Services Group HBL Faiq Sadiq and Divisional Head of Finance Metro-Habib Cash & Carry Akkas-ul-Hussaini signed the agreement.

MOHAMMED SALEEM MANSOORI

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