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Wednesday, 12 December 2012

STOCK MARKET UPDATE:13.12.2012



STOCKS
Karachi Stocks Up 49.28 Points:
KARACHI, Dec 12: At the close of trading, the KSE-100 index was at 16750.97, up 49.28 points.

 (Today Market is 46.93Up@ 10.55am)

December 12, 2012
 5 TOP GAINERS  &  LOOSERS:

Nestle Pakistan
Rs 100.00
Pak Services
Rs (9.35)
Unilever Food
Rs 62.00
Exide (Pak)
Rs (8.67)
PICT
Rs 11.84
Blessed Tex.
Rs (5.25)
Al-Ghazi Tractor
Rs 6.97
Attock Petroleum
Rs (5.04)
National Foods
Rs 6.66
IGI Insurance
Rs (4.82)
Stocks recover 42 points
KARACHI, Dec 12: Shares at the stock market began the climb again after taking a breather for a day. The KSE-100 index on Wednesday regained 42.91 points, which was about half of the loss posted the day earlier.
Most equity traders thought that the bulls were still in control and a correction, if any, would be pushed back at least until the announcement of the SBP monetary policy on Friday.
The index closed at 16,744.60 points, representing 0.26 per cent gain over the earlier day. Turnover was down to 113 million shares on Wednesday, from 127 million shares on Tuesday and the trading value also stood depressed to Rs3.242 billion, from Rs3.484 billion the previous day. Market capitalisation, however, rose to Rs4.204 trillion from Rs4.196 trillion the earlier day.
Out of the 359 active issues, gainers were 178, followed closely by 161 while 20 stocks remaining unchanged. The significant feature of the day’s trading was the investors’ interest in second and third tier stocks, which contributed heavily to the day’s turnover. Gain of Rs1.69 in the price of heavy-weight OGDC also helped index close higher.
Foreign portfolio inflow was in the net sum of $1.68 million against outflow on Tuesday. Among the local participants companies were major sellers at $1.15 million worth stocks.
Ahsan Mehanti at Arif Habib Corp commented that stocks closed higher with investor interest across leading sectors on hopes for rate cut in SBP policy announcement.
Expectations for release of $600m Coalition Support Fund, higher global commodities, higher cement sales data, rising Urea and DAP off take and improved textile sector valuations on EU export relaxations played a catalyst role in bullish sentiments despite concerns for falling rupee dollar parity affecting foreign inflows at KSE.
Equity Dealer, Samar Iqbal at Topline Securities said that the market recovered on expectations that interest rate would be reduced in the upcoming monetary policy review.
Heavy-weight OGDC increased after ECC approved new pricing of Qadirpur gas field. Large cement companies like DGKC and Lucky also witnessed some buying, LOTPTA again remained in the limelight in anticipation that the government may provide them duty protection.
The news flow was generally depressing. The banking sector’s cash recovery against Non-Performing Loans (NPLs) posted a fall of 40 per cent during the third quarter of 2012 as compared to second quarter mainly due to economic slowdown.
Monetary expansion during the five months of 2012-13 fiscal year rose 200 per cent over the same period last year, which analysts said could change the current declining inflation scenario.
Also reports said that the gas supplies to four urea plants operating on the Sui Northern Gas Pipeline Limited network was curtailed by 45 per cent in the first 11 months of this year to Nov, compared to same time last year and Punjab’s textile industry was said to be fearing huge export losses due to ongoing strike of goods carriers.
During the day’s trading at the KSE, Nestle Pakistan stood out as the biggest gainer of Rs100 to Rs4,900, while Pakistan Services lost Rs9.35 to Rs177.65.
On the 10-top volume leaders list, Lotte PakPTA showed turnover in 11m shares, up by 20 paisa to Rs7.85. Jah Sidd Co followed but with a loss of 17 paisa to Rs 17.09 on 6m shares.
Byco Petroleum added 15 paisa to Rs10.92 on 5m shares; Maple Leaf Cement edged higher by 5 paisa to Rs13.84 on 4m shares; Colony Sugar Mills saw price rise of 71 paisa to Rs6.79 on 4m shares; PTCL was up 25 paisa to Rs17.08 on 4m shares; Dewan Sugar gained 44 paisa to Rs3.89 on 4m shares; Fauji Cement was up by 6 paisa to Rs6.51 on 3m shares; Fauji Fertiliser was stronger by 72 paisa to Rs112.98 on 3m shares and SNGPL rose by 43 paisa to Rs23.84 on 3m shares.
Karachi Stock: KARACHI: Local stocks eased lower on Tuesday, pressured by a drop in shares of cement and gas companies, dealers said.
The Karachi Stock Exchange's (KSE) benchmark 100-index closed at 16,701.69 points, down 0.51 percent or 85.85 points from the previous session. The market hit a record high of 16,903.46 on Friday.
Trading has been subdued ahead of the central bank's decision on interest rates on Friday. Analysts expect the State Bank of Pakistan to further cut its discount rate.
Fauji Cement fell 2.28 percent, or 0.15 rupee, to 6.43 per share, while Sui Northern Gas dropped 3.51 percent, or 0.85 rupees, to 23.40 per share.
Stocks that rose included Maple Leaf Cement, up 0.65 percent to 14.00 per share, and Engro Foods, which gained 1.33 percent to 93.80 per share. (Reuters)
 SECP asks non-listed firms to maintain websites
ISLAMABAD, Dec 12: After listed companies, the Securities Exchange and Commission of Pakistan (SECP) has directed non-listed companies, having paid-up capital of Rs200 million and above to maintain a functional website from Jan 1.
“It will eventually help streamline business environment in country and introduce best practices in the business sector by enhancing transparency,” said an official of the SECP.
The requirement is in line with the current global technological development, to give investors, shareholders and the public an easy access to information.
The directive issued by the SECP said that the website with up-to-date information would serve as a valuable tool for current and potential investors for making informed decisions as the updated website would be mutually beneficial for companies, providing them with an effective platform to disseminate relevant information to stakeholders and seek their feedback wherever required.
The companies have been directed that the websites are required to disclose information about the companies’ profile, contact information of board of directors and financial and regulatory details.
This also includes financial reports as well as important announcements to be prominently disclosed on the proposed websites.
The SECP said that companies can also effectively market their products and inform their prospective clients about their achievements, their affiliations with trade bodies and also issue any clarification through their websites.
Company News:
KARACHI, Dec 12: Shazad G Dada has been elected as the new chairman of the Board of Pakistan Mercantile Exchange (PMEX). In its meeting held on December 5, the Board unanimously elected Shazad G Dada. The SECP has appointed Shazad Dada, Muhammad Hanif Jakhura and Syed Ali Sultan as independent directors to the Board of PMEX.
*****
KARACHI, Dec 12: The Acumen Fund announced the appointment of Farrukh H Khan as Country Director in Pakistan. As the Pakistan Country Director, Khan will also serve as the CEO and member of the Board of Directors of the non-profit local entity Acumen Fund Pakistan.
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KARACHI, Dec 12: The Pakistan Center for Philanthropy (PCP) presented the ‘Corporate Philanthropy Award’ to Fauji Fertilizer Company Limited (FFC) for their extensive work in the social, environmental and educational sectors of the country.
FFC was among the top-5 companies in Pakistan in terms of volume of donations and CSR activities.

MOHAMMED SALEEM MANSOORI

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