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Wednesday, 6 February 2013

STOCK MARKET UPDATE:07.02.2013



STOCKS
Karachi Stocks Up 120.45 Points:
KARACHI, Feb 06: At the close of trading, the KSE-100 index was at 17408.52, up 120.45 points. 
(Today Market is 25.55 Up@ 10.47 am)

February 6, 2013
5 TOP GAINERS  &  LOOSERS:

UniLever Pak
Rs 75.00
Nestle Pak
Rs (210.50)
Rafhan Maize
Rs 50.00
Indus Dyeing
Rs (29.87)
Bata Pak
Rs 45.00
Gatron Industries
Rs (9.62)
Unilever Food
Rs 20.00
Sunrays Textile
Rs (7.00)
Fazal Textile
Rs 14.19
Atlas Battery
Rs (5.99)

Bulls push KSE to a record closing
KARACHI: Stocks ended on yet another record closing on Wednesday and volume rose to a 10-month high, led by foreigners accumulating shares of the energy and telecom sector on hopes of healthy profits due to be announced in the coming days, dealers said.
The KSE 100-share index ended 0.70 per cent, or 120.45 points, higher at a record closing of 17,408.52 points. It made a fresh all-time high at 17,439.07 points and an intra day low at 17.288.07 points.
Turnover rose to 335.62 million shares, compared with 251.75 million shares traded on Monday and trading value increased by 2.6 billion to Rs7.46 billion from Rs4.86bn in the previous trading session.
Market capitalisation stood at Rs4.35 trillion from Monday’s Rs4.33 trillion.
“The local equity market registered yet another record session led by E&P (Exploration and Production) stocks that poured in sufficient gains for the benchmark to stand strong at historic high,” said Hasnain Asghar Ali from Escorts Capital Ltd.
The heaviest weight company on the exchange, Oil and Gas Development Co Ltd gained 80 paisa to Rs194.54 and Pakistan Oilfields ended Rs11.80 higher at Rs466.69.
Samar Iqbal, a dealer from Topline Securities said that the telecom sector remained in the limelight as the shares of World Call, Wateen Telecom and Telecard totaled 24 per cent of the total volume. All five of the telecom companies listed on the KSE-index were the top five volume leaders on Wednesday.
However, dealers said investors might be cautious in the days ahead as they wait for the monetary policy announcement, which is due on Feb 8. Most analysts expect the State Bank to keep the policy rate unchanged at 9.5 per cent for the subsequent two months.
Foreigners turned into net buyers as they bought shares worth a net $3.92 million on Wednesday, compared with a net selling of $201,407 on Monday, bringing the total net selling for the month at $291,827.10. The total for January stood at net buying of $15.42m. Mutual Funds were the biggest sellers with equity worth $2.73 million.
The biggest gainer was UniLever Pakistan which ended Rs75 higher at Rs10,075, followed by Rafhan Maize Prod which closed Rs50 higher at Rs3,600. Nestle Pakistan Ltd witnessed the biggest loss as it shed Rs210.50 to Rs4,701, followed by Indus Dyeing, which ended Rs29.87 lower at Rs567.63.
The KSE-30 index ended 0.77pc, or 109.15 points, higher at 14,232.38.
Out of the 356 companies traded, the value of 202 increased, 130 decreased while 24 remained unchanged.
The telecom sector along with second and third tier companies dominated the 10 most active traded stocks: WorldCall Telecom topped the list as it gained 63 paisa to Rs3.49 on turnover of 53.42 million shares, TRG Pakistan Ltd rose Re1 to Rs8.28 on 33.86m shares and Wateen Telecom Ltd ended 35 paisa higher at Rs3.34 on 24.51m shares.
Pakistan Telecommunication Co Ltd increased by 92 paisa to close at Rs20.31 on 22.91m shares, Telecard Ltd rose 13 paisa to Rs4.56 on 20.27m shares and Lotte PakPTA gained 10 paisa to Rs7.82 on 18.38m shares.
KESC Corp ended 31 paisa higher at Rs6.37 on 12.48m shares, Engro Corp closed up Rs1.11 at Rs95.87 on 10.20m shares and Pace (Pak) Ltd marginally gained one paisa to Rs3.49 on 9.53m shares.
Jahangir Siddiqui Co rose 27 paisa to close at Rs16.66 on volume of 9.1m shares.
Company News:
MCB Bank, WorldCall results today: KARACHI, Feb 6: Two major corporate results to be unveiled on Thursday include MCB Bank Limited and WorldCall Telecom.
Another upcoming result on the last day of the week (Friday) would be Engro Fertilizers Ltd. The results are awaited by investors as those would give a sense of performance by two leading sectors, banking and Telecom.
Wednesday was dry in regard to the flow of financial figures. (Colony) Thal Textile Mills revealed a loss of Rs125 million on sales of Rs553 million for the year ended June 30, 2012. Comparative numbers for the previous year were loss Rs0.168 million and sales Rs704 million. Metropolitan Steel, another lame duck, produced loss of Rs0.54 million on sales valued at Rs1 million, compared to loss of Rs0.66 million on sales worth Rs1.4 million.
SUSPENSION: KSE extended suspension in trading of shares of the following companies for another 60 days from Feb 7, stating that the companies “have not so far removed the cause of suspension of trading in their shares”:
Pakistan Industrial and Commercial Leasing; Dadabhoy Sack; Nina Industries; Nazir Cotton Mills; Dominion Stock Fund; Investec Mutual Fund; Regal Ceramics; Azmat Textile Mills and Kaiser Arts and Krafts Limited. The bourse was stated to have suspended trading “in the interest of trade and public and in exercise of the powers vested (in the KSE) under Listing Regulation No.5 (2) (iii) read with Section 9(7) of the Securities & Exchange Ordinance, 1969″.
Another notice stated that the KSE had decided to suspend trading in shares of Business and Industrial Insurance Company under sub-section (7) of Section 9 of the Securities & Exchange Ordinance, 1969 and Listing Regulation No 30 for further period of 60 days effective Feb 8, 2013.

MOHAMMED SALEEM MANSOORI

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