STOCK MARKET UPDATE: 01.10.2012

STOCK:
Karachi Stocks Up 61.17Points:
KARACHI, Sept 28: At the close of trading, the KSE-100 index was at 15418.76, up 61.17 points.
 (Today Market is 16.85 Down @ 11.13 am)

September 27, 2012

5 TOP GAINERS  &  LOOSERS:

Unilever Pak	Rs 300.00	Rafhan Maize Pak	Rs (219.85)
Unilever Food	Rs 50.00	Wyeth Pak Ltd	Rs (21.00)
Colgate Palmolive	Rs 50.00	Island Textile	Rs (14.85)
Attock Petroleum	Rs 13.99	National Foods	Rs (7.65)
Abbot Lab	Rs 10.07	Siemens Pakistan	Rs (7.50)

Oil explorers give KSE a needed boost

KARACHI: The local stocks ended higher on Friday, driven by investors' interest in oil exploration and production companies, traders said.
The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.40 percent, or 61.17 points, higher at 15,418.76, on total volume of 113.92 million shares.
"Activity was primarily driven by exploration and production companies as well as fast moving consumer goods companies, where OGDCL itself contributed 47 points to the index. The index was up," said a dealer.
The Oil and Gas Development Company Limited gained 1.96 percent to close at 178.06 rupees. (Reuters)
MOHAMMED SALEEM MANSOORI

STOCK MARKET UPDATE: 28.09.2012

STOCK:
Karachi Stocks Down 30.21 Points:
KARACHI, Sept 27: At the close of trading, the KSE-100 index was at 15369.21, down 30.21 points.
(Today Market is 92.45 Up @ 10.42 am)

September 27, 2012

5 TOP GAINERS  &  LOOSERS:

Indus Dyeing	Rs 20.95	Siemens Pak	Rs (42.50)
Mithchells Fruit	Rs 14.99	Wyeth Pak	Rs (42.00)
Attock Petroleum	Rs 14.82	Pak Gum & Chem	Rs (10.05)
Shezan int’l	Rs 12.98	Pak Services	Rs (8.60)
National Foods	Rs 12.23	Philip Morris	Rs (6.81)

KSE:Selling in blue chips drags market lower
KARACHI, Sept 27: Selling by institutions to book profits, especially in blue chips, dragged the Karachi Stock Exchange to close nearly 42 points lower on Thursday but buying in cement stocks restricted losses, dealers said.
The KSE 100-share index ended 0.27 per cent lower at 15,357.59 points. Trading activity however remained dull as only 86.63 million shares were traded. Trading value increased to Rs2.73 billion, compared with Rs2.25 billion on Wednesday but market capitalisation decreased to Rs3.87 trillion from Rs3.88 trillion the previous day.
“Stocks closed bearish on institutional profit-taking and investors booked profits as consolidation continued in blue chip companies,” said Ahsan Mehanti from Arif Habib Corp.
Cement sector remained in the limelight and many of the companies were in the top 10 traded companies in the market on Thursday as investors are anticipating improved dispatched for the coming months.
“Cherry picking was seen in cement stocks amid improved dispatches for the month,” said Samar Iqbal, a dealer at Topline Securities Ltd.
This helped the KSE-index to recover from its intra-day low of 15,323.63 points. The intra-day high was at 15,448.22 points.
Dealers said volume was thin as investors were cautious on the outcome of a NRO case hearing which is scheduled to resume on Oct 5 and also on ongoing meeting with the IMF.
Pakistan and IMF authorities are meeting in Dubai for technical level talks, while policy level talks are scheduled to be held in Islamabad next week.
Officials have however denied that the Post Programme Monitoring consultation is to discuss any fresh loan programme with the donor agency.
But investors remained skeptical.
The next trigger for the market could be the monetary policy announcement which is due to be unveiled also on Oct 5 and most analysts are expecting another rate cut as inflation has managed to remain in single digit.
Foreign investors sold shares worth a net $147,853, compared to a net inflow of $4.09 million on Wednesday.
Banks were the major sellers of equity with $6.55 million.
The market capitalisation based KSE 30-index shed 0.23 per cent, or 29.24 points, to close at 12,929.19 points. Out of the 330 companies traded, the value of 139 increased, 170 decreased, while 21 remained unchanged.
Indus Dyeing witnessed the highest increase in share value as it rose Rs20.95 to Rs439.95 followed by Mitchell’s Fruit which was up Rs14.99 to Rs359.99.
Siemens Pakistan saw the largest fall as it shed Rs42.50 to Rs807.50 followed by Wyeth Pakistan Ltd which decreased by Rs42 to Rs871.
The top 10 most active companies were led by Lafarge Pakistan which gained 30 paisa to close at Rs5.63 on 9.66 million shares followed by PTCLA, shed 30 paisa to Rs19.37 on 6.23 million shares, DG K Cement shed by 22 paisa to Rs49.16 on 4.8 million shares and Fauji Fertiliser Bin gained 43 paisa to end at Rs35.83.
Colony Mills Ltd increased by 27 paisa to Rs2.77 on 3.58 million shares and Fauji Cement ended 17 paisa higher at Rs6.27 on 3.29 million shares.
Engro Corp rose 87 paisa to Rs107.22 on 3.16 million shares and Nishat Chunian gained 95 paisa to close at Rs21.64 on 3.1 million shares.
Maple Leaf Cement gained 9 paisa to Rs9.11 on 2.39 million shares and Nishat Chunian Power ended 42 paisa higher at Rs16.81 on 1.8 million shares.
KSE: MARKET TREND

KARACHI: The local capital market ended lower on Thursday, in line with market heavyweight Oil and Gas Development Company Limited (OGDCL), traders said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.27 percent, or 41.83 points, lower at 15,357.59, on total volume of 86.62 million shares.

The Oil and Gas Development Company Limited lost 0.74 percent to close at 176.00 rupees.

"With low volumes, activity remained confined in mid cap stocks particularly in cement sector. Although the index closed in negative primarily on account of decline in index heavyweight OGDC, cherry picking was seen in cement stocks amid improved dispatches for the month," said a dealer.(Reuters)

Monetary policy on Oct 5
KARACHI, Sept 27: The State Bank said on Thursday the Monetary Policy for next two months (Oct-Nov) would be announced on October 5.
Expectations are high in the market that policy rate could see a further cut since the inflation is in single digit.
The main inflation, Consumer Price Index (CPI) for August on year-on-year basis was 9.1 per cent which was lowest in three years.
During FY11 the CPI fell to single digit only for December when it was 9.7 per cent.
Low inflation encourages central banks to allow more liquidity for the system that may spur economic growth.
The State Bank has slashed the policy interest rate by 350 basis points since July 2011 in the wake of gradually declining inflation and a better performance at external front. The current account was surplus in FY11.
Further slash in the policy interest would depend largely on government borrowing policy as it needs huge support from banking money including the central bank.
If the borrowing from State Bank crosses a limit, the inflation would see upward trajectory. It will make more difficult for
SBP to introduce a cut in its policy rate.
MOHAMMED SALEEM MANSOORI

STOCK MARKET UPDATE: 27.09.2012

STOCK:
Karachi Stocks up 20.04 Points:
KARACHI, Sept 26: At the close of trading, the KSE-100 index was at 15393.50, up 20.04 points. 
 (Today Market is 28.34 Up @ 11.17 am)

September 25, 2012

5 TOP GAINERS  &  LOOSERS:

Nestle Pak	Rs 50.00	Wyeth Pak	Rs (47.71)
Bata Pak	Rs 35.72	Siemens Pak	Rs (12.00)
Indus Dyeing	Rs 14.75	Pak Gum & Chem	Rs (10.79)
Mithchells Fruit	Rs 13.00	National Foods	Rs (6.25)
Service Ind	Rs 6.52	Indus Motor Co	Rs (4.74)

Stocks manage modest gains on selective buying
KARACHI, Sept 26: Buying in cement scrips helped the stock market to end on a positive note on Wednesday but trading activity was slightly dull as investors were cautious about the outcome of a NRO case hearing and the ongoing meeting with the IMF.
The Karachi Stock Exchange (KSE) 100-share index rose 0.17 per cent, or 25.96 points, to 15,399.42. Turnover fell to 82.69 million shares from 105.35 million shares traded on Tuesday.
Trading value totalled Rs2.25 billion, compared with Tuesday’s value of Rs2.46 billion while market capitalisation was unchanged at Rs3.89 trillion.
“After Tuesday’s handsome result announcement continued buying interest in Maple Leaf Cement kept the stock in limelight,” said Samar Iqbal, a dealer at Topline Securities Ltd. It ended 24 paisa higher at Rs9.02 on 5.49 million shares, the second highest in terms of volume on Wednesday.
Cement companies in FY12 posted a cumulative net profit of Rs16 billion, seven times higher than last year.
However many investors hesitated from taking fresh positions due to political uncertainty.
The Supreme Court, while hearing NRO verdict implementation case on Wednesday, warned the government with contempt proceedings after rejecting a draft letter to Swiss prosecutors.
The apex court said the draft letter prepared by Law Minister Farooq Naek was unsatisfactory and gave him until October 5 to make changes.
Dealers said investors were also cautious due to the ongoing meetings with Pakistan and IMF authorities in Dubai on the technical level, while policy level talks are scheduled to be held in Islamabad next week.
Officials have however denied that the Post Programme Monitoring consultation is to discuss any fresh loan programme with the donor agency. But investors remained skeptical.
However “catalysts such as the upcoming monetary policy will give the market a direction and bring back much needed volume,” said Ahfaz Mustafa, director at Ismail Iqbal Securities.
The monetary policy is due to be announced end of next month and there are expectations of a further cut in the discount rate as inflation has managed to remain in single digit.
However foreign investors were active in the market on Wednesday as they bought shares worth a net $4.09 million, compared to a net outflow of $1.08 million. Companies were the major sellers of equity with $1.89 million.
The market capitalisation based KSE 30-index shed 0.07 per cent, or 8.52 points, to close at 12,958.43 points.
Out of the 326 companies traded, the value of 135 increased, 170 decreased, while 21 remained unchanged.
Nestle Pakistan witnessed the largest increase of Rs50 to Rs4,200 followed by Bata (Pakistan) Ltd gained Rs35.72 to Rs999.25.
The largest decline of Rs47.71 was witnessed in Wyeth Pak Ltd to Rs913 followed by Siemens Pakistan which fell by Rs12 to Rs850.
The 10 most active companies were as follows: PTCL gained 31 paisa to Rs19.67 on 9.39 million shares, DG Khan Cement rose 52 paisa to Rs48.38 on 4.25 million shares, Fauji Cement increased 11 paisa to Rs6.10 on 3.89 million shares.
Tariq Glass rose 98 paisa to Rs19.97 on 2.89 million shares and NIB Bank Ltd gained 4 paisa to Rs2.65 on 2.85 million shares.
Pak Elektron lost 12 paisa to Rs7.99 on 2.34 million shares and KESC decreased by 20 paisa to Rs6.37 on 2.28 million shares.
Jahangir Siddique gained 3 paisa to Rs13.61 on 2.25 million shares and Hub Power ended 76 paisa higher at Rs46.56 on 2.18 million shares.

Company news:
PSO to set up storage facitlity: KARACHI, Sept 26: Pakistan State Oil (PSO) has initiated various long-term projects notably a joint venture with an international oil conglomerate for setting up an oil offloading and sto age facility at Hub, Balochistan.
Speaking at the 36th Annual General Meeting here on Wednesday CEO and Managing Director Naeem Yahya Mir said projects were underway to transform PSO into an integrated oil company.
He said a petroleum refinery was also being established in Khyber Pakhtunkhwa.
He also gave brief details regarding an agreement with Pakistan National Shipping Corporation (PNSC) to utilise their vessels for transporting imported POL products to Pakistan’s shores resulting in substantial savings of foreign exchange.
PSO Board of Management Chairman Sohail Wajahat Siddiqui stressed that the board was an extension of the shareholders and acts in a supervisory role to ensure maximum returns for the stakeholders.
PSO shareholders concerned over low dividend payout:
KARACHI: Pakistan State Oil (PSO) shareholders have expressed concern over the financial charges being borne by the company due to circular debt and its impact on dividend pay-out. The shareholders at the 36th Annual General Meeting (AGM) advocated immediate recovery of outstanding debt and implementation of stringent quality and cost control measures.
PSO’s board of management assured the shareholders that they were working closely with all relevant stakeholders to devise strategies to overcome these concerns.
Naeem Yahya Mir, CEO and managing director of PSO, outlined his plan for developing a secure energy supply chain for Pakistan in the meeting. He envisioned transforming PSO into an integrated oil company and establishing it among the league of international oil giants.
He spoke of various long term projects initiated by the company including the upcoming establishment of a petroleum refinery in Khyber Pakhtunkhwa and a joint venture with an international oil conglomerate for setting up an oil off-loading and storage facility at Hub, Balochistan.
Mir also discussed an agreement with Pakistan National Shipping Corporation (PNSC) to utilise their vessels for transporting imported POL products to Pakistan’s shores. This agreement would result in substantial foreign exchange savings.
The event was chaired by Chairman board of management Sohail Wajahat Siddiqui who congratulated the shareholders on being the proud owners of the nation’s first trillion rupee company.
Speaking on corporate governance and oversight mechanisms in place at PSO, Siddiqui stressed that the board was an extension of the shareholders and acted in a supervisory role to ensure maximum returns for them. He also thanked the employees for their hard work and dedication.

MOHAMMED SALEEM MANSOORI