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Monday, 25 February 2013

STOCK MARKET UPDATE: 26.02.2013



STOCKS
Karachi Stocks Down 53.77 Points:
KARACHI, Feb 25: At the close of trading, the KSE-100 index was at 18020.50, down 53.77 points.
(Today Market is 44.60 Down@ 11.22 am)



February 25, 2013
 5 TOP GAINERS  &  LOOSERS:

Unilever Food
Rs 130.00
Colgate Palmolive
Rs (80.00)
UniLever Pak
Rs 31.82
Clariant Pak
Rs (14.02)
National Foods
Rs 8.60
Mithchells Fruit
Rs (8.00)
Sunrays Textile
Rs 7.90
AL-Ghazi Tractors
Rs (4.65)
Shell Pakistan Ltd.
Rs 7.07
Fateh Textile
Rs (4.06)

Stocks undergo technical correction
KARACHI, Feb 25: Stocks ended lower on Monday due to profit-taking, but dealers said losses were curtailed towards the end of the trading session as investors bought shares of heavyweight, National Bank of Pakistan (NBP), after it announced a strong growth in earnings.
The KSE 100-share index ended 0.30 per cent, or 53.77 points, lower at 18,020.50 points. It traded in a broad range as it made a fresh all-time high at 18,175.77 points and an intra day low at 17,972.62 points.
“The new intra-day high however triggered technical correction on back of institutional offloading, wherein despite leading the volumes PTC stayed red through out the session, along the entire main board thus pushing the index below 18,000, the benchmark underwent an adjustment of almost 225 points from day’s high,” said Hasnain Asghar Ali from Escorts Capital Ltd.
Turnover fell to 322.3 million shares, compared with 369m shares traded on Friday and trading value decreased to Rs9.11 billion from Rs9.41bn in the previous trading session. Market capitalisation stood at Rs4.48 trillion from Friday’s Rs4.49tr.
Dealers said investors accumulated shares of NBP as it announced the highest ever cash dividend while unveiling its result for the 2012 and earned a profit after tax of Rs16.2 billion.
But selling in the telecom sector, especially Pakistan Telecommunication Co Ltd, led the index to close in the negative territory.Foreign investors turned into net sellers as they sold shares worth a net $1.15 million on Monday, compared with buying a net $1.91m on Friday, bringing the total net buying for the month at $23.21m.
Individuals were the biggest buyers with equity worth $7.17m but selling by mutual funds worth $6.36m offset the gains.
The biggest gainer was UniLever Food which ended Rs130 higher to close at Rs4,255 followed by UniLever Pakistan which closed Rs31.82 higher at Rs10,550. Colgate Palmolive witnessed the biggest loss as it shed Rs80 to Rs1,520, followed by Clariant Pakistan, which ended Rs14.02 lower at Rs266.39.
The KSE-30 index ended 0.30pc, or 43.97 points, lower at 14,770.09.
Out of the 377 companies traded, the value of 170 increased, 183 decreased while 24 remained unchanged.The telecom sector along with second and third tier shares once again dominated the 10 most active traded stocks: Telecard Limited was the volume leader as it gained 86 paisa to Rs7.96 on turnover of 35.05m shares, National Bank of Pakistan rose Rs1.35 to Rs54.74 on 31.38m shares but PTCL fell 33 paisa to Rs23.64 on turnover of 27.84 million shares.
Jahangir Siddiqui Co Ltd increased by 12 paisa to Rs18.74 on 21.07m shares, Azgard nine hit its upper circuit after gaining 90 paisa to Rs8.59 on 17.57m shares but WorldCall Telecom shed 17 paisa to Rs3.67 on 15.06m shares.
Wateen Telecom Ltd ended 8 paisa lower at Rs4.04 on 12.54m shares, Maple leaf Cement marginally rose 2 paisa to Rs18.96 and Fauji Cement closed 13 paisa lower at Rs7.85 on 8.95m shares.
Engro Foods Ltd also ended on its upper circuit as it gained Rs5.67 to Rs130.47 on 8.18m shares.
KSE sheds gains as companies claim profits; rupee weak: KARACHI: Pakistan's stock market closed lower on Monday after companies booked profits, traders said.
The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.30 percent, or 53.77 points, lower at 18,020.50.
"Profit taking was seen from selected counters above the key 18,000 points level," said a dealer.
Engro Corporation rose 5.0 percent to 113.83 rupees as news that the company had reached an agreement for gas supplies from the state-run Oil and Gas Development firm lifted the share price, dealers said.
D.G.Khan Cement fell 1.12 percent to 62.00 rupees and
In the currency market, the rupee ended weaker at 98.15/98.20 against the dollar, compared to Friday's close of 98.06/98.12.
Overnight rates in the money market fell to 8.75 percent from Thursday close of 9 percent.
Company News:
NBP earns Rs16.2bn profit: KARACHI, Feb 25: National Bank of Pakistan announced it’s highest ever cash dividend while unveiling its result for the 2012 and earned a profit after tax of Rs16.2 billion.
It also reported a payout of 15 per cent bonus shares along with a 70 per cent (Rs7.0 per share) cash dividend to the shareholder’s as final dividend for the year 2012, which translates into payout ratio of 97.2.
This year the cash dividend was Rs13 billion (1850m shares at the rate of Rs7), while last year the cash dividend was Rs12.6 billion (1680m
shares at the rate of Rs7.5).

Due to a fall in interest rates, the bank’s interest margin like all other banks remained under pressure, said the bank’s press release.
This reduction was partially offset through volume growth and improving deposit mix.
Total assets of the bank increased to Rs.1.31trillion at the year end, up by 14pc from 2011.
The bank’s total deposits increased by Rs110bn or 12pc. Despite the economic challenges the bank’s non performing loans (NPL) remained at the year 2011 level with NPL ratio improving to 12.2 per cent from 14.9pc last year.
Provision coverage stood at 82 per cent which improved from 76 per cent in 2011.
During 2012, several major I.T. initiatives were undertaken including conversion of almost all the branches to NBP’s online network, expansion of ATM networks, and establishment of a full fledge 24/7 call centre.
National Bank occupies an important position among the ‘Big Five’ commercial banks in the country.
The bank became the first ever financial institution of the country to cross one trillion rupees bench-mark with more than 16,500 employees and 1,285 branch banking network across the country, and 23 foreign branches and representative offices in four countries left unique footprints in South Asia, Central Asia and Middle East.

MOHAMMED SALEEM MANSOORI

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