STOCK MARKET UPDATE: 21.12.2012

STOCKS

Karachi Stocks Up 45.95 Points:
KARACHI, Dec 20: At the close of trading, the KSE-100 index was at 16915.78, up 45.95 points.

(Today Market is 37.83 Up@ 11.26am)

December 20, 2012

 5 TOP GAINERS  &  LOOSERS:

Colgate Palmolive	Rs 49.98	Siemens Pak	Rs (8.00)
Unilever	Rs 24.47	Murree Brewery	Rs (6.99)
Mithchells Fruit	Rs 17.70	Al-Ghazi Tractors	Rs (6.23)
Bata Pak	Rs 15.00	Sitara Chemical	Rs (3.05)
Khyber Tobacco	Rs 5.39	Grays of Cambridge	Rs (3.00)

 KSE 100-index closes above 16,900

KARACHI, Dec 20: The bulls were in charge at the Karachi Stock Exchange on Thursday, with the KSE-100 index closing for the first time above the 16,900 points level. The index added another 38.19 points on Thursday with heavy volumes of 185 million shares.
The significant feature of the day’s trading, however, was the participation of second and third tier stocks in the lead of TRG Pakistan and Byco Oil Pakistan.
Together the two scrips contributed 30 per cent to the day’s aggregate turnover.
An early morning notice by TRG Pakistan stated that the company would apply to the London Stock Exchange for shares of its subsidiary, DG Services to be admitted for trading on AIM. Directors said they believed the proposed listing would provide the TRG with growth opportunity.
Byco Oil Pakistan announced the completion of the country’s largest oil refinery with an installed refining capacity of 120,000 barrels per day. Combined with existing operative refinery, the cumulative capacity would be 155,000 barrels per day. It will enhance overall crude oil refining capacity in the country from existing 12.25 to 18 million tons per year.
Both TRG and Byco closed at their ‘upper circuit’, gaining Re1.
Other than that, the market was greeted with a raft of positive news. Equity Dealer Samar Iqbal at Topline Securities said that on the main board activity remained confined towards fertiliser stocks, cement sector and Hub Power Company.
Ahsan Mehanti at Arif Habib Corp stated that the stocks closed higher led by telecom stocks on speculations ahead of auction on 3G licences; TRG, Byco news and hopes for release of $600 million US Coalition Support Fund were positive.
News reports of ECC approval for gas allocation to fertiliser sector was generally ignored, though it caused slight stir in selective scrips.
Analyst Hasnain Asghar Ali referred to the news flow and observed that cement stocks on growth stories and debt rescheduling maintained representation of the sector in the volume leader list. Stock swapping stayed prominent in fertilizer sector.
On Thursday, the KSE-100 index ended at 16,908.02 points and the KSE-30 market capitalisation based index gained 27.76 points to 13,737.08. There was only a slight gap between the winning and losing scrips with minus signs at 173, ahead of the plus at 167. Another 28 stocks stayed unchanged in total of 368 shares traded.
Turnover at 185 million shares showed sharp rise from 114 million shares traded the previous day. However, trading value slipped to Rs3.738 billion, from Rs4.267 billion, signifying investor interests in low-priced stocks. Market capitalisation stood at Rs4.238 trillion.
The gaining stocks were led by Colgate Palmolive which rose by Rs49.98 to Rs1399.98, followed by UniLever Pak up by Rs24.47 to Rs10,100. The two biggest losers were Siemens Pakistan down by Rs8 to Rs764 and Murree Brewery easy by Rs6.99 to Rs132.96.On the ten-volume leaders’ list, TRG stood at the top with 35m shares, up by Re1 to Rs5.03. Byco Petroleum also hit the ‘upper circuit’ with a gain of Re1 to Rs12.34 on 21m shares.
Maple Leaf Cement added 43 paisa to Rs15.29 on 15m shares; Lotte PakPTA was up 18 paisa to Rs7.54 on 9m shares; Fauji Cement edged higher by 3 paisa to Rs6.44 on 4m shares; Descon Oxychem rose by 65 paisa to Rs6.53 on 4m shares; NIB Bank was up by 12 paisa to Rs2.47 on 4m shares; Fauji Fertiliser steadier by 13 paisa to Rs114.44 on 4m shares.
Nishat (Chunian) conceded Rs1.64 to Rs35.76 on 4m shares and Engro Corporation stood down by Rs1.49 to Rs91.69 on 4m shares.
KSE 100-index gains 11 points : KARACHI: The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,869.83, 0.07 percent higher or 11.15 points.
Stocks closed slightly higher Wednesday, mainly supported by oil stocks.
Investors also booked profit in the Engro Corp as no major decision was taken to overcome gas shortages in the fertilizer sector, said dealer at Topline Securities.
Financial services company Jahangir Siddiqui rose 1.85 percent, or 0.30 rupee, to 16.52 per share while Fauji Fertilizer was up 0.37 percent, or 0.42 rupees, to114.45 per share.
Stocks that fell included Hub Power Co, down 0.41percent to 43.80 per share, and D.G. Khan Cement, which fell 0.51 percent to 54.65 per share.
In the currency market, the rupee strengthened, closing at 97.69/97.73 against the dollar, compared to Tuesday's close of 97.88/97.94.
The rally was a brief interlude in a mainly downward slide. The rupee is under pressure due to import and oil payments and may fall further due to a strong demand for the dollar from importers.
Overnight rates in the money market ended at 9.50 percent compared to Tuesday's close of 9.40 percent. (REUTERS)

MOHAMMED SALEEM MANSOORI

STOCK MARKET UPDATE: 20.12.2012

STOCKS

Karachi Stocks Up 14.16 Points:
KARACHI, Dec 19: At the close of trading, the KSE-100 index was at 16872.84, up 14.16 points. 

 (Today Market is 19.68 Up@ 11.13am)

December 19, 2012

 5 TOP GAINERS  &  LOOSERS:

Mithchells Fruit	Rs 16.86	Bata Pak	Rs (65.00)
Exide Pak	Rs 9.85	Colgate Palmolive	Rs (50.00)
PICT	Rs 8.17	Al-Ghazi Tractors	Rs (4.77)
Pak Oilfields	Rs 7.42	Premier Sugar	Rs (4.00)
Khyber Tobacco	Rs 5.13	Packages Ltd	Rs (3.84)

Stocks end up in lacklustre trade

KARACHI, Dec 19: Stocks ended marginally higher on Wednesday in cautious trade as investors remained on the sidelines amid concerns about the economy but bargain hunters accumulated fertiliser and energy stocks at lower levels, dealers said.The KSE 100-share index ended 0.07 per cent, or 11.15 points, higher to 16,869.83 points. The index traded in the range of 16,853.13 points to 16,914.44 points. Turnover decreased to 113.95 million shares compared with 118.64m shares traded on Tuesday.
However, trading value rose by Rs600m to Rs4.3 billion from the previous value of Rs3.7bn whereas market capitalisation stood flat at Rs4.22 trillion.
“The equity market gave a deserted look as the benchmark traded in a narrow range with relatively low volumes,” said Hasnain Asghar Ali from Escorts Capital.
“Despite negativity, high volumetric activity in Hubco on dips along with some re-shuffling in cement stocks, yield attraction led buying in selected fertilizer and banking, E&P front liners mainly PPL and POL.”
The market was supported by buying in Pakistan Petroleum Ltd and Pakistan Oilfields which closed up Rs2.72 to Rs177.86 and Rs7.42 to Rs430.24 respectively.
However concerns remained on the macroeconomic front as the country’s current account turned negative, with a deficit of $365m, for the first time during first five months of this fiscal year due to a wide trade gap.
Foreign investors continued to cautiously buy shares this week as they bought shares worth a net $447,808 on Wednesday, compared with a net of $1.42m the previous trading session. However for the month, they remain net sellers of $379,859.
Banks were the major buyers in the market as they bought equities worth $3.78m. The biggest gainer was Mitchell’s Fruit which rose Rs16.86 to Rs354.11, followed by Exide Pakistan which ended Rs9.85 higher at Rs300. Bata Pakistan witnessed the biggest loss for the second consecutive day as it shed Rs65.50 to Rs1,350, followed by Colgate Palmolive, which shed Rs50 to close at Rs1,350. The KSE-30 index ended 0.21pc, or 28.47 points, higher at 13,709.32.
Out of the 372 companies traded, the value of 165 increased, 182 decreased while 25 remained unchanged. Even though the share value of more companies declined than increased, it was the buying in heavyweights that resulted in a positive closing for the market.
The cement and fertilizer sector once again dominated the 10 most active traded stocks: Jahangir Siddiqui Co Ltd rose 22 paisa to Rs16.44 on 7.91m shares, Hub Power Co Ltd fell 18 paisa to Rs43.80 on 7.63m shares, and DG Khan Cement shed 19 paisa to Rs54.74 on 5.65m shares.
Maple Leaf Cement witnessed some buying as it closed 13 paisa higher at Rs14.86 on 5.39m shares, Fauji Fertiliser ended 28 paisa higher at Rs114.31 on 5.35m shares but Fauji Cement closed lower by 9 paisa to Rs6.41 on 4.14m shares.Engro Corporation shed 89 paisa to Rs93.18 on 3.24m shares, Byco Petroleum gained 18 paisa to Rs11.34 on 2.88m shares and Saritow Spinning ended 94 paisa higher at Rs10.88 on 2.81m shares.
Pakgen Power closed 89 paisa lower at Rs21.10 on turnover of 2.69m shares.

Market delegation calls on president

KARACHI, Dec 19: A delegation of the representatives of the country’s capital market called on President Asif Ali Zardari at Chief Minister House on Wednesday. The Federal Finance Minister, Dr Abdul Hafeez Shaikh was also present on the occasion.
The market delegation was led by Securities and Exchange Commission of Pakistan Chairman Muhammad Ali. He was accompanied by the chairmen and MDs of all three stock exchanges; chairmen of demutualisation committees and five senior brokers, Bashir Jan Mohammad, Amin Tai, Arif Habib and Aqeel Karim Dhedhi.
Haji Ghani Haji Usman, who is chairman demutualisation Committee Karachi, said that the talks revolved around various issues, including the process of demutualisation. While it was heartening to note that the Demutualisation Act was passed by the parliament, the capital market representatives said that they were now looking forward to the party that would hold 40 per cent strategic shares of the demutalised exchanges.
The importance of the stock market for the economy was given a serious thought and the official side was said to have recommended convincing sponsors to launch new projects with 100 per cent equity mobilised through the exchanges.
Market development issues and products were also discussed.
Haji Ghani said that the market representatives recommended that profit-making companies be asked to distribute 40 per cent of their earnings in dividends to shareholders so as to encourage greater investor participation.
The KSE or the SECP did not issue a statement regarding the talks with the president and the finance minister. But several representatives present at the meeting said that everyone was in good cheer over the stock exchange index crossing well over its all-time best.
“Enthusiastic market participants even suggested the KSE-100 index to reach as high as 20,000 points level, from current 16,900,” he said.
KSE 100-index gains 11 points: KARACHI: The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,869.83, 0.07 percent higher or 11.15 points.

Stocks closed slightly higher Wednesday, mainly supported by oil stocks.

Investors also booked profit in the Engro Corp as no major decision was taken to overcome gas shortages in the fertilizer sector, said dealer at Topline Securities.

Financial services company Jahangir Siddiqui rose 1.85 percent, or 0.30 rupee, to 16.52 per share while Fauji Fertilizer was up 0.37 percent, or 0.42 rupees, to114.45 per share.

Stocks that fell included Hub Power Co, down 0.41percent to 43.80 per share, and D.G. Khan Cement, which fell 0.51 percent to 54.65 per share.

In the currency market, the rupee strengthened, closing at 97.69/97.73 against the dollar, compared to Tuesday's close of 97.88/97.94.

The rally was a brief interlude in a mainly downward slide. The rupee is under pressure due to import and oil payments and may fall further due to a strong demand for the dollar from importers.

Overnight rates in the money market ended at 9.50 percent compared to Tuesday's close of 9.40 percent. (REUTERS).

 Company News:

Byco Oil announces completion of refinery: KARACHI, Dec 19: Byco Oil Pakistan Limited on Wednesday announced the completion of country’s largest oil refinery at Mouza Kund, District Lasbella, Balochistan.
At present the refinery is in state of pre-commissioning and preparatory activities wherein different plants, equipment and instrumentation are being put to confirmatory checks and tests. Cold circulation of crude oil has already been established and sustained.
Also furnaces of different process units have been test fired and the refinery is ready for hot commissioning and start up, a press release said.
The newly commissioned petroleum refinery will have an installed refining capacity of 120,000 barrels per day. Combined with existing and fully operative smaller refinery, the cumulative capacity shall be over 155,000 barrels per day which is 55 per cent higher than the existing largest refinery in Pakistan.
Thus it will enhance overall crude oil refining capacity in the country from existing 12.25 to 18 million tons per year and will significantly contribute in reducing import of deficit refined petroleum products in the country. This Refinery can be further expanded up to 180,000 bpd.
Byco Oil Pakistan Limited CEO Qaiser Jamal said along with this new refinery, the country’s first Isomerisation Plant is being commissioned.
The introduction of isomerisation technology in Pakistan will not only enable this refinery to produce higher volumes of motor gasoline to meet country’s demand but this will be the first environment friendly motor gasoline, with almost nil content of benzene, he informed.
The first parcel of crude oil for this refinery will be brought to the country’s first single point mooring installed 10km into the Arabian Sea for direct discharge to the refinery storage tanks. This facility can discharge tankers carrying over 100,000 metric tons of crude oil, he said.
With an investment of significantly over $600m and rising, Byco also operates the fast growing petroleum marketing business network comprising of 222 retail outlets.

MOHAMMED SALEEM MANSOORI

STOCK MARKET UPDATE: 19.12.2012

STOCKS

Karachi Stocks Up 66.38 Points:
KARACHI, Dec 18: At the close of trading, the KSE-100 index was at 16867.40, up 66.38 points. 

(Today Market is 17.68 Up@ 11.28am)

December 18, 2012

 5 TOP GAINERS  &  LOOSERS:

Wyeth Pak Ltd	Rs 44.76	Bata (Pak)	Rs (74.50)
Khyber Tobacco	Rs 4.89	Colgate Palmolive	Rs (27.00)
MCB Bank Ltd	Rs 3.91	UniLever Pak	Rs (24.44)
Millat Tractors	Rs 3.49	Mitchell’s Fruit	Rs (17.75)
Liberty Mills	Rs 3.15	PICT	Rs (13.77)

Stocks rally on strong corporate earnings

KARACHI, Dec 18: Stocks ended higher with the cement, fertiliser and banking sector in the limelight as investors accumulated these stocks on hopes of strong corporate profits and on expectations of Coalition Support Fund (CSF) likely to be released soon, dealers said.
The KSE 100-share index ended 0.34 per cent, or 57.66 points, higher to 16,858.68 points. Turnover increased to 118.64 million shares compared with 91.59m shares on Monday. Trading value also rose by Rs1.2 billion to Rs3.7 billion from the previous value of Rs2.58bn.
Market capitalisation stood at Rs4.22 trillion from Rs4.21tr on Monday.
“Likely release of $700m under CFS, improvement in rupee value, came as a confidence building measure, thereby allowing the benchmark to consolidate further, the benchmark index despite restricted activity managed yet another historic session registering ever highest closing at 16,858,” said Hasnain Asghar Ali from Escorts Capital Ltd.
According to reports, the Pentagon quietly notified Congress this month that it would reimburse Pakistan nearly $700 million for the cost of stationing 140,000 troops on the border with Afghanistan, an effort to normalise support for the Pakistani military after nearly two years.
This would also take off some pressure from the rupee which made a record low amid the country’s depleting foreign exchange reserves.
“Fertiliser stocks remained under limelight after news of better than expected sales during this month. Institutional buying was again seen in heavyweight MCB Bank while some profit-taking was seen in Hubco,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Amongst the top gainers in the banking sector, MCB Bank rose Rs3.91 to Rs214.60, while Habib Bank Ltd gained Rs1.05 to Rs118.01.
Energy stock and the heaviest weighted company on the index, Oil and Gas Development Co Ltd also supported the market as it ended Rs1.64 higher at Rs189.60.
Banks are due to announce their year-end results in the coming weeks.
Foreign investors continued to cautiously buy shares this week as they bought shares worth a net $1.42m on Tuesday, compared with a net of $734,417 the previous trading session. However for the month, they remain net sellers of $827,667.
Individuals were the major buyers in the market as they bought equities worth $2.37m.
The biggest gainer was Wyeth Pakistan Ltd which rose Rs44.76 to Rs944.76, followed by Khyber Tobacco which ended Rs4.89 higher at Rs102.71.
Bata Pakistan witnessed the biggest loss for the day as it shed Rs74.50 to Rs1,451.50, followed by Colgate Palmolive, which shed Rs27 to close at Rs1,400.00.
The KSE-30 index ended 0.52pc, or 70.79 points, higher at 13,680.85.
Out of the 362 companies traded, the value of 167 increased, 175 decreased while 20 remained unchanged. Even though the share value of more companies declined than increased, it was the buying in heavyweights that resulted in a positive closing for the market.The cement and fertilizer sector dominated the 10 most active traded stocks: Hub Power Co Ltd fell 52 paisa to Rs43.98 on 10.35m shares, Jahangir Siddiqui Co Ltd shed 48 paisa to Rs16.22 on 9.53m shares and Byco Petroleum rose 15 paisa to Rs11.16 on 8.4m shares.
DG Khan Cement ended 57 paisa higher at Rs54.93 on 5.95m shares but Maple Leaf Cement witnessed some profit taking as it closed 10 paisa lower at Rs14.73 on 5.69m shares.
KESC fell 28 paisa to Rs6.06 on 4.45m shares, Fauji cement ended marginally lower by 10 paisa to Rs6.50 on 4.14m shares but Fauji Fertiliser Bin Qasim gained 44 paisa to Rs38.30 on 3.44m shares.
Engro Corporation rose 93 paisa to Rs94.07 on 3.42m shares and Pakistan Telecommunication Co Ltd ended 2 paisa lower at Rs17 on 3.11m shares.
Karachi stocks rise in cautious trading: KARACHI: Stocks rose on Friday, but the market remained dull as investors waited for a monetary policy announcement.
There was trading in banking stocks amid expectations of expected payouts and activity in cement stocks as traders anticipated a cut in interest rates from the state bank of Pakistan, said dealer Nausheen Kiran at Al-Hoqain Securities.
Around 174 companies closed higher while 158 closed lower, said a trader.
The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,845.09, up 0.23 percent or 38.51 points from the previous session.
Maple Leaf Cement rose 6.59 percent, or 0.93 rupee, to 15.05 per share while D.G. Khan Cement was up 0.29 percent, or 0.16 rupees, to 54.40 per share.
Stocks that fell included Jahangir Siddiqui, down 2.07 percent to 16.99 per share, and Engro Corp, which dropped 1.2 percent to 94.00 per share. (REuters)
KSE broker fined: LAHORE, Dec 18: The Securities and Exchange Commission of Pakistan (SECP) has imposed a fine of Rs100,000 on Live Securities Limited, a broker of the Karachi Stock Exchange (KSE), for refusing to cooperate with its inspectors conducting inspection of the broker’s books of accounts and other documents.
The SECP order said the broker was being penalised for non-provision of required information to the inspection team in contravention of sub-section 3 of Section 6 of the Securities and Exchange Ordinance, 1969 and Rule 8 of the Brokers and Agents Registration Rules, 2001.
The order says the Live Securities did not cooperate with the inspectors by not providing information and documents as required by them. “The non-cooperation placed limitation over the inspectors’ ability to conclude their report in respect of the broker’s compliance status with applicable regulatory framework,” it added.
The broker had also not submitted any written statement in response to the show-cause notice from the commission. But its representatives during the course of hearing apologised for the delay in providing information and reiterated that the delay was not intentional and repeatedly explained the circumstances causing the delay.
The representatives committed to providing the required documents and information within short time and also assured the commission to fully cooperate in completing the inspection.
They also promised to provide any information and data as required by the commission in fulfilment of its regulatory obligations.

 Company News:

MCB Bank gets new CEO: KARACHI, Dec 18: The State Bank has granted, in principle, approval for the appointment of Imran Maqbool as President/CEO of MCB Bank Limited, with effect from December 22, 2012, says a press release.
Maqbool has been a part of MCB for the last eight years.
United Bank Limited (UBL): KARACHI: United Bank Limited (UBL) was awarded ‘Bank of the Year 2012 Pakistan’ by the international publication ‘The Banker’ in a ceremony held last month in London, says a press release.

MOHAMMED SALEEM MANSOORI