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Monday, 16 July 2012

STOCK MARKET UPDATE: 17.07.2012


STOCK:


Karachi Stocks Up 52.29 Points:
KARACHI, July 16: At the close of trading, the KSE-100 Index was at 14384.58, up 52.29 points.

July 16, 2012
5 TOP GAINERS  &  LOOSERS:

Rafhan Maiz Pro
Rs 147.27
Colgate Palmolive
Rs (44.95)
Unilever Food
Rs 57.40
Siemens Pakistan
Rs (21.57)
UniLever Pak
Rs 11.48
Bata (Pak)
Rs (18.88)
ICI Pakistan
Rs 6.88
Nestle Pakistan
Rs (18.00)
Abbott Labs
Rs 6.33
Akzo Nobel Pak
Rs (6.22)

KSE 100-index gains 52 points
KARACHI, July 16: The KSE-100 gained 52.29 points and settled at 14,384.58 points on the first trading session on Monday.
The rally was altogether driven by expectations about quarterly corporate results, with investors picking up stocks in sectors and scrips that they believe could benefit from the financial results and provide investors with hefty dividends. After a disappointing earnings and nil dividend announcement by Fauji Fertiliser Bin Qasim last week, investor were now waiting to see what comes out of the Fauji Fertiliser Company corporate bag.
Results of Hubco and UBL were also awaited. A market participant pointed out that the volume had slumped to 74 million shares on Monday, from 112 shares traded on Friday, which showed that investors were not in the market in large numbers, particularly the retail investors who had recently dabbled so extensively in the second and third tier scrips that generated bigger volumes.
Most analysts offered the consensus view that economic and political events going forward, were sitting heavily on investors’ mind. The Moody’s downgrade of the government bonds last week, was thought to be a strong reason for the foreign investors to flee.
Yet, the figures released by National Clearing Company on Monday evening showed foreign investors as the major buyers of stocks amounting to net $1.78 million. It was noted that local companies who had offloaded equity last week, gathered courage to purchase net $1.81 million worth equity on Monday.
Banks were big sellers, disposing of $1.73 million worth shares. The upcoming political events also cast a long shadow on market as investors were anxious about the outcome of NRO case.
The news flow was mixed. A Russian investor of repute was said to have shown interest in investing a substantial sum in the Thar coal fields. Oil and Gas Regulatory Authority (Ogra) announced increase in prices of petrol by Rs1.41 per litre and CNG by Rs1.29 per kg, from Monday.
Meanwhile, the local auto industry was said to have rejected, what it calls the ‘unrealistic’ Auto Industry Development Plan (AIDP) forward by the Engineering Development Board (EDB).
Ahsan Mehanti at Arif Habib Corp observed that institutional support was witnessed in blue chip stocks in oil, banking and cement sector on improvement in Pak-US relations. The investors were hopeful of release of US Coalition Support Fund of $1.5 billion despite concerns over Moody’s bond downgrade.
Hasnain Asghar Ali, COO at Escorts Capital, said that the benchmark remained in the positive zone for most part of the session.
Although the volumes stayed on lower side, brisk trading in D.G. Khan Cement besides allowing the turnover to keep ticking, kept the short term participants active.

Wider stocks struggled in inviting turnover, though dips were checked by the sideliners. Implementation of proposals forwarded during SECP-KSE meeting was expected to be a short term trigger.
The KSE-30 index was up by 42.93 points to 12,445.24 points. Trading value dipped to Rs2.922 billion from Rs4.426 billion on Friday. Market capitalisation increased by Rs17 billion to Rs3.671 trillion, from Rs3.654 trillion.
Among the 357 stocks that came up for trading on Monday, 145 were up, 113 down and 99 remained unchanged.
On the active list, D.G. Khan Cement again was the volume leader with 18m shares traded, up by Rs1.15 to Rs44.64. NIB Bank edged higher by 6 paisa to Rs2.38 on 7m shares, Engro Foods added 32 paisa to Rs69.82 on 5m shares and Cherat Cement lost Rs1.54 to Rs33.09 on 4m shares.
Jah Sidd Co rose by 24 paisa to Rs14.03 on 3m shares, Lucky Cement was up by 75 paisa to Rs126.63 on 2m shares, Lafarge Pakistan slipped one paisa to Rs4.61 on 2m shares, Fauji Fertiliser Bin Qasim slid 3 paisa to Rs38.69 on 2m shares, Hubco rose by 41 paisa to Rs43.41 on 1m shares and Bank of Punjab shed 9 paisa to Rs8.06 on 1m shares.

SECP grants licences to 9 NGOs
ISLAMABAD, July 16: The Securities and Exchange Commission of Pakistan (SECP) on Monday granted licences to nine non-profit associations under Section 42 of the Companies Ordinance, 1984, from April to June, 2012.
Out of these nine licences, four associations were granted licences in the healthcare sector, three in social services sector, and one each in media and education sector.
In the healthcare sector, Pakistan Life Saving Foundation has been formed to promote and undertake lifesaving activities while the Cancer Foundation has been set up to establish hospitals and healthcare centres for diagnosis, prevention and treatment of cancer. Amirunnisa Rashida Khanum Charitable Medical Foundation has been formed to work towards provision of medical facilities for the poor and under-privileged members of society.
The Sleep Research Foundation has been formed to promote, assist and finance research related to sleep and its disorders.
In the social services sector, Indus Crafts Foundation intends to revitalize the traditional hand-made crafts of Pakistan, while Dabistan-e-Iqbal has been established to promote understanding about Allama Iqbal’s works, philosophy and message.
Developmental Initiative and Empowerment Axis has been formed to provide a platform for social, cultural, health and education, and economic empowerment.
In the education sector, the HKS Foundation has been formed to establish and promote educational institutions.
In media, Power 99 Foundation has been set up to work for the promotion of the electronic and print media.
Company news:
1) KARACHI: JCR-VIS Credit Rating Company Limited has once again re-affirmed the entity rating of ‘A/A-2’ for HBFCL: The ratings incorporate the shareholding structure of HBFCL jointly held 62.5 per cent by the government of Pakistan and indirect stake of 37.5 per cent by the State Bank of Pakistan. SBP is both shareholder and major lender of HBFC, says a press release.
MOHAMMED SALEEM MANSOORI

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