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Monday, 1 October 2012

STOCK MARKET UPDATE: 02.10.2012



STOCK:
Karachi Stocks Up 147.33 Points:
KARACHI, Oct 02: The KSE-100 Index was at 15707.27, up 147.33 points.

October 01, 2012
5 TOP GAINERS  &  LOOSERS:

UniLever Pak
Rs 300.00
Rafhan Maize Pro
Rs (208.85)
Nestle Pakistan
Rs 210.00
Siemens Pakistan
Rs (40.00)
Colgate palmolive
Rs 34.72
Mithchells Fruits
Rs (17.37)
Shezan international
Rs 13.38
Pak Gum & Chemical
Rs (9.15)
Wyeth Pak Limit
Rs 10.00
Pak Services
Rs (8.18)
Karachi Stocks rise by 115 points on rate cut hopes
KARACHI, Oct 1: Stocks ended higher on Monday following a lower than expected Consumer Price Index (CPI) which raised expectations of a further rate cut due to be announced in the upcoming monetary policy.
The monetary policy is scheduled to be unveiled on Friday and analysts expect a cut in the key policy rate of 50 to 100 basis points.
The Karachi Stock Exchange (KSE) 100-share index closed 0.75 per cent, or 115.12 points, higher at 15,559.94 points.
Turnover increased to 135.8 million shares, compared with 113.94 million shares traded on Friday.

Trading value rose to Rs4.73 billion from Rs3.82 billion from the previous trading session while market capitalisation increased to Rs3.93 trillion from Friday’s Rs3.90 trillion.
“Early pressure in the market was negated upon release of lower than expected CPI for Sept which improves prospects for continued monetary easing,” said Sheikh Zia-ur-Rehman, head of institutional sales at AKD Securities Ltd.
“The rally should continue across the rest of the week especially in leveraged stocks such as textiles, cements and Engro.”
Dealers said some investors are still cautious amid the ongoing meetings with IMF and Pakistani authorities in Islamabad and there might be some profit booking as the market is hovering close its all-time high of 15,676 points from April 2008.
Cement sector remained in the limelight on hopes of improved dispatches for September and as most companies announced a profit in 2011-12 such as Dewan Cement.
Dewan Cement which was the third volume leader, reported a net profit of Rs383 million in FY12, compared with a loss of Rs311 million in the previous fiscal year. It had remained in a loss for the past four years.
“Banking stocks fell as investors believe that decline in interest rate will hurt their margins,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Foreign investors sold shares worth a net $317,950 on Monday, compared with a net inflow of $1.35 million on Friday.
Companies were the major buyers of equity worth $11.37 million.

The market capitalisation based KSE 30-share index ended 0.74 per cent, or 96.85 points, higher at 13,126.29 points. Out of the 329 companies traded, the value of 170 advanced, 141 declined and 18 remained unchanged.
Unilever Pakistan witnessed the largest increase of Rs300 to Rs10,000 followed by Nestle Pakistan which rose Rs210 to Rs4,410.
The biggest decline was seen in Rafhan Maize Prod which shed Rs208.85 to Rs3,968.30 followed by Siemens Pakistan which fell Rs40 to Rs760.
Lafarge Pakistan was the top volume leader rose 16 paisa to Rs6.01 on turnover of 17.26 million shares, PTCL gained 46 paisa to Rs19.85 on 10.64 million shares and Dewan Cement ended 48 paisa higher at Rs5.38 on 10.64 million shares.
DG Khan Cement increased 72 paisa to Rs51.02 on 9.72 million shares, Engro Corp rose Rs1.54 to Rs108.31 on 4.22 million shares and Nishat Mills Ltd gained Rs1.8 to Rs58.46 on 3.87 million shares.
Telecard Ltd marginally rose 2 paisa to Rs3.29 on 3.69 million shares but NIB Bank Ltd fell 6 paisa to Rs2.51 on 3.04 million shares and JS Growth Fund shed 3 paisa to Rs7.56 on 3.04 million shares.
Engro Foods Ltd ended 92 paisa higher at Rs70.96 million shares on turnover of 3.04 million shares.

Karachi Stock Exchange-Free-float KSE index
KARACHI, Oct 1: The KSE 100-index will be based on free-float market capitalisation from Oct 15, compared with the previous total market capitalisation, Deputy Managing Director KSE Haroon Askari said in a statement on Monday.
The composition of companies in the KSE-100 index on the basis of free-float capitalisation had been carried out according to the closing price of shares as on August 31, 2012.
Company news:
PVMA Election:KARACHI: Oct 1: In the 325th Executive Committee meeting of Pakistan Vanaspati Manufacturers Association (PVMA), held here in Karachi, Khawaja Arif Qasim was elected unopposed as Chairman PVMA for 2012-13, while Mr Atif Akram Sheikh was elected as Senior Vice Chairman and Wazir Ali Pardhan was elected as Vice Chairman PVMA, says a press release.
MOHAMMED SALEEM MANSOORI

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