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Thursday, 18 April 2013

STOCK MARKET UPDATE: 19.04.2013



STOCKS
Karachi Stocks Up 220.24 Points:
KARACHI, Apr 18: At the close of trading, the KSE-100 index was at 18614.36, up 220.24 points. 
 (Today 19th April- Market is 48.10 Up@ 10.41 am)

April 18, 2013

 5 TOP GAINERS  &  LOOSERS:

Wyeth Pak
Rs 56.50
Unilever Food
Rs (228.00)
National Foods
Rs 16.60
Rafhan Maize
Rs (183.00)
Mitcehlls Fruit
Rs 14.75
Sanofi Aventis
Rs (22.25)
Clariant Pak
Rs 12.56
Bhanero Textile
Rs (15.05)
Abbot Labs
Rs 11.60
Shell Pak
Rs (5.92)

Bulls stage spectacular rally of 220 points
KARACHI, April 18: Bulls made a strong comeback on Thursday with a giant leap in KSE-100 index by 220.24 points or 1.20 per cent to close at 18,614.36 points.
The consistent foreign inflows, which encouraged local institutions also to pick up fundamentally strong scrips, enabled the market to extend the previous day’s minor gains.
The market moved mostly to the north, which reduced volatility and resulted in decrease in volumes by 16 per cent to 147 million shares on Thursday, from 174 million shares the earlier day.
Trading value declined by 11 per cent to Rs6.148 billion, from Rs6.946bn. Foreign investors bought $3.25 million worth stocks on Thursday. ‘Banks’ also picked up scrips valued at $0.39m.
Other local participants decided to take profit at higher levels, which showed net sale of $1.12m by ‘companies’, sell of equities worth $1.5m by ‘mutual funds’ and ‘individuals’ offloading $1.72 million worth stock.
Analyst Zubair Ghulam Hussain of Foundation Securities pointed out that from January to date, the market had seen an upswing on the back of foreign inflows to the tune of $87m and net buy worth $22m by banks and DFIs.
Mutual funds, on the other hand have been the major sellers of equity to the tune of $60m.
On Thursday, the heavyweights MCB Bank, OGDC and NBP were in the forefront of the rally, contributing, 19.59 points; 18.33 points and 18.17 points, respectively to the index rise.
Analyst Khalil Usmani at JS Global commented that the banking sector resumed the climb after several days on Thursday under the lead of NBP with investors eyeing mid-year rise in interest rates as the government start to court the IMF for another possible programme.
Ogra raised the gas wellhead prices of various wells under its half yearly policy to review and adjust prices which would make a marginal positive impact on the bottom-line of E&P companies. Elections remain the key momentum driver.
The market capitalisation based KSE-30 index climbed 183.26 points or 1.28 per cent to 14,488.61 points with the high recorded at 14,514.33 points. Market capitalisation saw addition of Rs40bn to Rs4.547 trillion on Thursday, from Rs4.508tr the
day ago.

Among the 344 active scrips, gainers at 228 led the losers by a ratio of 2:1, with 100 scrips closing in the negative territory.
Another 16 stocks closed unchanged.

The two top gainers were Wyeth Pak Limited up by Rs56.50 to Rs1266.50, followed by National Foods higher by Rs16.60 to Rs348.60. Other leading gainers were Adamjee Insurance, Pak Suzuki Motor Company, Muree Brewery, Clariant Pakistan and IGI Insurance, all of which hit their ‘upper circuit’.
On the loss making side, Unilever Foods fell by Rs228 to Rs4,332.00, followed by Rafhan Maize down by Rs183 to Rs3,902.
On the top-10 traded list, Maple Leaf Cement saw the highest volume of 19m shares, ending higher by 79 paisa to Rs19.15.
Wateen Telecom was up 10 paisa to Rs4.24 on 14m shares, Engro Corporation leapt up by Rs3.75 to Rs138.33 on 12m shares, NBP gained Rs1.95 to Rs41.06 on 8m shares, Byco Petroleum shed 9 paisa to Rs10.47 on 7m shares, TRG Pakistan added 18 paisa to Rs8.14 on 6m shares, D.G. Khan Cement rose 61 paisa to Rs70.59 on 5m shares, Jah Sidd Co edged higher by 20 paisa to Rs11.87 on 4m shares, PTC was up 15 paisa to Rs18.61 on 4m shares and Engro Foods, which announced first quarter results on Thursday, slipped by 51 paisa to Rs138.48 on 4m shares.
Pakistan stocks close higher on oil, gas, food companies: KARACHI: Stoked by oil, gas, and food shares, Pakistan’s apex bourse, Karachi Stock Exchange (KSE) jumped on Thursday, gaining 220 points, Geo News reported.
According to closing stats the benchmark KSE-100 Index grew by 1.20 percent, or 220.24 points, to close at 18,614.36 points.
The index heavyweight Oil & Gas Development Co Ltd (OGDC) put on 0.75 percent to close at Rs204.
On the other hand Engro Corporation got a boost of 2.36 percent to close at Rs137.75 before the traders called it a day.
  
Company News:
Engro Foods earns Rs653m: KARACHI, April 18: Engro Foods Limited posted after tax profit (PAT) at Rs653 million for the first quarter of 2013 (1QFY13), translating into earning per share (eps) at Rs0.86.
The earnings were 34pc higher than in the similar quarter of previous year and in line with or slightly lower than analysts’ expectations.
Ayub Ansari, analyst at AKD Securities stated that the 1QCY13 earnings came below their forecast of PAT at Rs723m, largely due to lower than expected sales revenue which clocked in at Rs9.6bn against analysts’ expectation of Rs10bn.
The Efood stock, however, shed only 51 paisa in trading at the stock market on Thursday, to close at Rs138.48 as investors’ outlook on the company was positive.
On sequential basis, earnings were down by 33pc from Rs977m (eps: Rs1.28) in 4Q2012.
Decline in earnings as compared to 4Q2012 was mainly attributed to decrease of 11 per cent in Topline to Rs9.6bn in 1Q2013, which, analyst Zeeshan Afzal at Topline Securities believed was at least in part due to seasonal decline in volumes.
However, improved process efficiencies enabled gross margins to improve which restricted decline in gross profitability. As compared to 4Q2012, company’s gross margins rose by 150bps to 29.5pc while gross profits declined by 6pc to Rs2.8bn.
In addition, increase of 18pc in distribution costs also dampened the bottom-line. Higher cost was attributable to higher campaign runs during the quarter under review, which including ‘Thanda Meetha Pan’ and Olper’s re-launch.
Analyst Ansari stated that encouragingly, gross margins jumped to a record high of 29.5pc where the drop in contribution from the low margin ice cream segment (seasonally low sales) as well as margin improvement following UHT milk prices hikes in September 12 supported the margin expansion. Going forward, analysts expect sequential growth in revenues, particularly in 3QCY13 (Ramzan effect).

MOHAMMED SALEEM MANSOORI

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