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Thursday, 12 July 2012

STOCK MARKET UPDATE:12.07.2012


STOCK:


Karachi Stocks Up 94.69 Points:

KARACHI, July 12: The KSE-100 index was at 14475.15, up 94.69 points.(today 12.13 pm)
July 11, 2012
5 TOP GAINERS  &  LOOSERS:

Colgate Palmolive
Rs 47.65
Nestle Pak
Rs (54.65)
Rafhan Maize
Rs 33.00
Island Textile
Rs (11.27)
UniLever Pak
Rs 25.28
Shezan Int’l
Rs (6.48)
Sapphire Textile
Rs 7.00
Blessed Textile
Rs (2.44)
Thal Limited
Rs 5.13
Pak Oilfields
Rs (2.01)
Karachi Stocks manage to post modest gains
KARACHI, July 11: Stocks closed almost flat with a minor gain of 6.12 points in the KSE-100 index which finished at 14,380.46 points on Wednesday.
The market witnessed great deal of volatility, the index high being 14,405 and low at 14,333.37 points. On the chart, the index trend line can be seen to have taken several turns up and down.
The volume was again low as investors remained on the sidelines. Those who came in to trade decided to take profit in stocks that had accumulated gains in the recent days. Among the group of participants, companies were net sellers of $1.51 million worth stocks, banks also sold shares of $0.51 million and Mutual Funds offloaded equity of $0.29 million.
Individuals bought $1.04 million worth of shares. Net portfolio inflow on Wednesday amounted to $0.87 million. The concerns over the outcome of court cases and the anxiety over outcome of the SECP-KSE meeting on Thursday kept investors on toes so that the realisation that corporates were about to put up encouraging results and perhaps distribute good dividends, took the back seat.
Hasnain Asghar Ali, a market expert said that the gainers from previous sessions came under profit-taking by the local participants, both retail and corporate thus keeping the
benchmark in the red zone for most part of the day. Renewed buying on dips, however, restricted larger fall.

Anticipation of improved earnings and payouts by the companies having cross holdings and even mutual funds likely to reflect portfolio gains in the upcoming yearly announcements invited higher turnover.
Thus besides providing short term trading opportunities it offered wider options for, the day traders. High profile judicial hearing has kept investors cautious due to mixed opinions.
The visit of SECP chairman to the stock exchange if able to addresses the concerns of market participants, can however, allow the local bourse to perform to its potential, both in terms of value and volumes.
However, timely release of committed funds by US and trade facilitation by EU could improve the market outlook Samar Iqbal, equity dealer at Topline Securities, stated that the investors remained cautious ahead of July 12 court hearing, which was the reason for volumes to remain low.
DGKC remained in the limelight as investors are eager to evaluate its profitability for the year ending June 2012. Engro Foods also posted some gains ahead of its June quarter results.
Ahsan Mehanti at Arif Habib Corp commented that profit-taking was witnessed in the corporate earning announcements session at KSE as global markets’ uncertainty persists.
Institutional support was witnessed in blue chip stocks on improvement in Pak-US relations and speculations ahead of SECP chairman visit to KSE.
The KSE-30 index was down 12.50 points to 12,486.84 points. Volume of business was further pushed back to 81 million shares on Wednesday, from 83 million shares the previous day.
Trading value showed sizeable decline to Rs2.372 billion, from Rs3.782 billion. Market capitalisation, however, increased by Rs2 billion to Rs3.663 trillion, from Rs3.661 trillion.
Total of 375 stocks were active with 132 ending in the plus columns, 121 in minus and 122 remaining unchanged.
Among the most briskly traded scrips, D.G.K. Cement again took the lead with 9m shares, but the stock conceded 66 paisa from the earlier gains to close at Rs42.94.
Jah Sidd Co added 21 paisa to Rs14.32 on 8m shares, Engro Foods was firmer by 10 paisa to Rs73.41 on 7m shares, JS Growth Fund steadier by 55 paisa to Rs8.09 on 5m shares, Azard Nine higher by 12 paisa to Rs6.56 on 5m shares and Nishat Chunian Power down 4 paisa to Rs15.25 on 5m shares.
Bank Alfalah rose by 25 paisa to Rs17.99 on 4m shares, KESC added 9 paisa to Rs3.92 on 4m shares, Askari Bank higher by 98 paisa to Rs14.80 and NIB Bank up by 4 paisa to Rs2.05 on 2m shares.
Company news:
1)Aisha Steel IPO oversubscribed: KARACHI, July 11: The offer for sale of shares of Aisha Steel Mills (ASML) has been oversubscribed by 2.7 times.
The KSE notified on Wednesday that according to the Central Depository Company, 1,633 applications were received for shares valued at Rs270 million. The figure includes employee applications. The IPO, first for the current fiscal year, was made on July 3 and 4.
With a paid-up share capital of Rs3.4 billion, the company had earlier received Rs234 million from pre-IPO investors. The public portion of ASML IPO comprised 10 million ordinary shares at a price of Rs10 per share, out of which 0.5 million shares were allocated to the employees of the company and the remaining 9.5 million shares were offered to the general public.
ASML is a joint venture of Arif Habib Corporation, Metal One Corporation Japan and Universal Metal Corporation. The green field project is aimed at producing Cold Rolled Coil (CRC) with an initial annual capacity of 220,000 tons. The project is currently in its trial phase.
Sponsors expect it to start manufacturing saleable products in the first quarter FY13.
JSIL payout: JS Investments Limited (JSIL) announced a total payout of Rs722.940 million in selected open-end funds managed by the company for financial Year 2012,
The final distribution of Rs2.50 was announced for JS Cash Fund, the money market fund. Including the earlier payout, the total for FY12 worked out Rs10.50 per unit, with an annualised return of 11.62 per cent.

For JS Income Fund a dividend of Rs2.25 per unit was announced, taking the total return for the year to Rs10.25 per unit, with an annualised return of 13.07pc.
A distribution of Rs20.25 per unit was announced for JS Fund of Funds, with an annualized return of 20 per cent while a distribution of Rs12.60 per unit was announced for Unit
Trust of Pakistan, taking its annualised return to 16.6 per cent.

A payout of Rs6.60 per unit, with an annualised return of 26.16 per cent was announced for JS Aggressive Income Fund, while for JS KSE-30 Index Fund, an annual return of 7.75 per cent with a dividend of Rs14.50 per unit was announced.
For JS Aggressive Asset Allocation Fund, a dividend of Rs14 per unit would be paid, taking the annualized return to 11.68 per cent.
2)KASB Group: KARACHI, July 11: The KASB Group continues its impressive run  at the CFA Excellence awards this year and honoured for the best brokerage house, best equity analyst, and best corporate finance house – equity and advisory (banks), says a press release
3) Lucky Cement: KARACHI, July 11: Lucky Cement has been assessed with a Level Check ‘A’ in its first ever Sustainability Report by the Global Reporting Initiative (GRI), making it the only company in Pakistan to receive such an honour in the year 2010-2011, says a press release.
MOHAMMED SALEEM MANSOORI

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