Follow by Email

Tuesday, 16 April 2013


Karachi Stocks Up 15.44 Points:
KARACHI, Apr 16: At the close of trading, the KSE-100 index was at 18539.94, up 15.44 points. 

 (Today 17th April- Market is 51.02 Down@ 10.38 am)

April 16, 2013


Murree Brewery
Rs 10.50
Unilever Food
Rs (213.41)
Colgate Palmolive
Rs 10.00
Wyeth Pak Ltd
Rs (33.06)
Gillette Pak
Rs 9.75
Indus Dyeing
Rs (20.00)
Shield Corporation
Rs 7.30
Mithchells Fruit
Rs (17.95)
Abbott Lab.
Rs 5.59
Bhanero Tex.
Rs (16.65)

KSE 100-index tumbles by 162 points
KARACHI, April 16: The stock prices took a dip on the stock market on Tuesday with the KSE-100 index down 162.63 points or 0.88 per cent to 18,361.87 points. The losses on Tuesday were extended over the earlier day’s decline, which most market analysts attributed to the same reasons.
The status quo on policy rates, the concerns over economic indicators and the political uncertainty, the overall lower than expected nine-month results from the Attock group companies added to the gloom. The heavy net buy of $4.32 million worth equity by foreign investors and helped by purchases of net $2.23 million stocks by individuals could not compensate for the across the board institutional profit-taking. Banks sold shares worth $3.15 million; mutual funds offloaded equity valued at $3.49 million and companies also slashed portfolio by $0.09 million.
Analysts at KASB Securities observed that corrective tremor jolted the market on Tuesday. The jolts were felt across the board where oil and gas sector was the worst-hit. Banks however remained relatively less impacted.
Ahsan Mehanti at Arif Habib Corp stated that stocks closed lower amid concerns for fall in global commodities. Institutional profit-taking was witnessed in stocks across the board after the SBP maintained status quo in policy statement on Friday due to dismal economic data.
Dismal quarter-end earning announcements, economic uncertainty on falling foreign exchange reserves after IMF repayments and circular debt issues in Pakistan energy sector played a catalyst role in bearish sentiments.
Analyst Mujtaba Barakzai at JS Global stated that investors offloaded positions on political uncertainty and sudden removal of SECP chairman by the Supreme Court. Banking heavy-weights MCB Bank was up by 1.9 per cent and UBL higher by 1.7pc were favored by foreign investors with volumes of 0.5mn and 1.3mn shares.
Attock group stocks witnessed massive battering due to lower than consensus result announcements. POL announced 9MFY13 EPS of Rs36.46 and closed down 3.4%. ATRL with 9MFY13 EPS Rs37.94 closed down 5pc. That said, the Cement sector witnessed some activity in the first half with rumors of foreign buying.
The market capitalisation based KSE-30 index dropped by 139 points to 14,295.86 points. Turnover, however, rose to 184 million shares on Tuesday, from 153 million shares traded the day earlier.
Trading value also increased to Rs 6.457 billion, from Rs5.127 billion on Monday. Market capitalisation slipped by Rs47 billion to Rs4.499 trillion, from Rs4.546 trillion.
In all 350 stock came up for trading with a huge number of 236 pushed in the red, compared to only 91 shares in the green. Another 23 stocks closed at their previous rates. Among the top gainers, Murree Brewery was up by Rs10.50 to Rs220.51 and Colgate Palmolive added Rs10 to Rs1,960. The biggest losers were Unilever Food which plunged by Rs213.41 to Rs4,800 and Wyeth Pak Ltd down by Rs33.06 to R1154.
The 10-top volume leaders were TRG Pakistan with turnover of 24m shares, closing up by 31 paisa to Rs8.32, Pak Elektron declined by 44 paisa to Rs11.60 on 19m shares, Maple Leaf Cement lower by 19 paisa to Rs17.39 on 16m shares and Engro Corporation suffered another heavy fall on Tuesday of Rs3.46 to Rs130.54 on 8m shares.
PIA was up by 54 paisa to Rs6.66 on 7m shares, D.G. Khan Cement eased by Rs1.24 to Rs70.03 on 6m shares, Lafarge Pakistan decreased by 30 paisa to Rs5.97 on 5m shares, Fauji Cement down 17 paisa to Rs8.31 on 4m shares, Lotte PakPTA down by 4 paisa to Rs7.06 on 4m shares and Pakistan Telecommunication Company hitting another ‘lower lock’ with a fall of Re1 to Rs19.17 on 4m shares.
KSE opens downbeat for the second day: KARACHI: Karachi Stock Exchange (KSE) Tuesday morning was seen carrying over yesterday’s profit-taking attitude across the board and concerns over economic and political uncertainty, Geo News reported.
As the trading started, the investors remained lukewarm, while the profit-takers preferred to continue selling shares. The market at one point was seen shed by 100 points plummeting the KSE-100 index to 18419 marks.
Company News:
PTCL AGM held: KARACHI, April 16: Pakistan Telecommunication Company Limited (PTCL) held its 18th Annual General Meeting (AGM) to apprise the company shareholders about various ongoing activities, results and achievements of the past financial year as well as discussing areas of improvement for future growth of the company.
In his opening remarks Chairman PTCL Board Shahid Rashid informed the shareholders that the company has taken significant steps to synergise PTCL’s group resources and initiatedvarious processes to enhance profitability which has resulted in strong financial performance during the period of past six months as compared to the same period of last year.
“The company has expanded its broadband market share and its revenues have witnessed a remarkable growth during the last six months. The subscriber base of wireless broadband product range ‘EVO’ has increased as well as the revenue from corporate services,” said Rashid.
President and CEO PTCL, Walid Irshaid while assuring the shareholders stated PTCL was putting conscientious efforts to drive diverse business avenues and maximize shareholders’ value in the long term by innovation and superior customer experience.
The shareholders were informed that during the period under review, PTCL won the prestigious ‘3rd Global HR Excellence Award 2012’ for its outstanding achievements and organisational performance in HR. PTCL was also recognised by the South Asian Federation of Accountants (SAFA) for Transparency, Accountability & Governance in its Annual Report.


No comments:

Post a Comment