STOCK MARKET UPDATE:01.03.2013

STOCKS

Karachi Stocks Up 107.63 Points:
KARACHI, Feb 28: At the close of trading, the KSE-100 index was at 18188.54, up 107.63 points.

 (Today Market is 119.32 Up@ 10.50 am)

February 28, 2013

 5 TOP GAINERS  &  LOOSERS:

Rafhan Maize Pro	Rs 179.95	UniLever Pak	Rs (350.00)
Sanofi-Aventis	Rs 17.00	Fazal Textile	Rs (14.89)
Bhanero Tex.	Rs 13.95	Indus Dyeing	Rs (11.85)
National Refinery	Rs 10.24	PICT	Rs (7.81)
Philip Morris	Rs 8.61	Blessed Textile	Rs (5.84)

Stocks add 93 points to overnight record

KARACHI, Feb 28: Share prices amassed gains on Thursday, the last trading day of the month, as the KSE-100 index galloped 0.51 per cent or by 92.76 points to close at its new all-time high at 18,173.67 points.
The market capitalisation based KSE-100 index added 0.28 per cent or 41.02 points to settle at 14,874.17 points. Strong gains in high valued stocks where refineries; the two heaviest weighted stocks OGDC and MCB Bank and the gains for the third consecutive day in for the fertiliser stock, Engro, caused market to remain bullish for yet another day on Thursday.
Foreign investors played a major role in lifting sentiments. The figures released in the evening showed net foreign inflow at a huge $5.72 million. It was supported by the stock purchases of the value of $5.72 million by ‘companies’.
Although major selling of $6.99 million and Mutual Funds amounting to $5.75 million did impact the market; the bulls were clearly in command till the end. The index oscillated between the highest at 18,214.99 points and lowest at 18,080.91 points.
Ahsan Mehanti at Arif Habib Corporation commented that the strong momentum was led by selected blue-chip stocks across the board on
strong earnings.
Together with it, the rising global stocks and commodities on healthy US housing data, ECC approval for Rs49bn guarantees to PIA, expected hike in Oil Marketing Companies margins and strong textile sector exports data played a catalyst role in bullish sentiments at KSE.
Turnover increased to 318 million shares worth a high Rs9.5 billion on Thursday, from 270 million shares with trading value at Rs7.3 billion the previous year. Market capitalisation rose to Rs4.515 trillion, from Rs4.495 trillion.
In all 369 stocks came in for trading on Thursday, representing 155 stocks closing in the positive against a larger number of 192 stocks in the negative. It evidenced gains in fewer but high index-weighted stocks.
The two top gainers for the day were Rafhan Maize Products, up by Rs179.95 to Rs3,929.95, followed by increase of Rs17 in price of Sanofi-Aventis to Rs357. The biggest losers were UniLever Pakistan, down by Rs350 to Rs10,450 and Fazal Textile lower by Rs14.89 to Rs283.10.
On the top-ten active list, Telecard recorded the highest volume of 56m shares, up by a paisa to Rs 7.41. It was followed by PIA, which closed at upper circuit gaining Re1 to close at Rs6.32 on 42m shares, PTC, after flexing muscles earlier in the session, stood down by 9 paisa to Rs23.4 on 29m shares.
Engro Corporation was again a major gainer of Rs4.29 to Rs121.19 on 17m shares, Azgard Nine was up 31 paisa to Rs8.76 on 14m shares, Fauji Cement was firmer by 8 paisa to Rs7.92 on 9m shares, Maple Leaf Cement, another speculative stocks for day traders and punters went against the market trend shedding 40 paisa to Rs17.88 on 8m shares, D.G. Khan Cement added 56 paisa to Rs63.01 on 8m shares, Byco Petroleum was up by 21 paisa to Rs13.25 on 8m shares and Lafarge Pakistan, the side board cement stock lost 9 paisa to Rs5.74 on7m shares.
Banks buy Karachi Stock Exchange up: KARACHI: Pakistan's stock market closed higher on Thursday, supported by Muslim Commercial Bank and Engro Corporation, traders said.

The Karachi Stock Exchange's (KSE) benchmark 100-share index ended 0.51 percent, or 92.77 points, higher at 18,173.67.

Food and fertilizer company Engro Corporation rose 3.51 percent to 121 rupees, while Muslim Commercial Bank was up 5 percent to 235.41 rupees.

In the currency market, the rupee ended weaker, at 98.14/98.19 against the dollar, compared to Wednesday's close of 98.09/98.14.

Overnight rates in the money market remained flat at 9.40 percent.

KSE-100 index gains 931 points in February

KARACHI, Feb 28: The benchmark KSE-100 index took a giant leap of 5.4pc or 931 points in February 2013, marking ninth consecutive month (from June 2012 to Feb 13) of an incessant bull-run.
In the nine months, market rallied 32pc with market capitalisation soaring to $46bn.
“This continuous positive monthly gain for nine months has happened for the first time since inception of KSE-100 Index in 1991 and surpasses previous best eight consecutive months witnessed during August 2005 to March 2006, where the market cumulatively gained 60pc,” says Nauman Khan, analyst at Topline Securities. The investor confidence had received a big boost by a significant reduction in the policy rate of 450bps since July, 2011 and active foreign buying ahead of elections.
During February, average traded volumes improved to Rs7.3bn ($74m) up 79pc from January and were better than the previous 12-month average of Rs4.8bn ($51m).
The analyst noted that the market posted average daily turnover at 285m shares in February, up 78pc from 160m shares recorded in January.
The turnover was the highest since April 2012. The individual investors’ participation improved to 51pc in February, better than 12-month average, as larger number of investors flock back to the market.
Another key factor that helped the Pakistan market to maintain its positive momentum was continuous foreign inflows which amounted to $29 million in February.

Company News:

Corporate results: KARACHI, Feb 28: Several companies announced financial results on Thursday, which happens to be the fag end of the announcement season. Some of the figures unveiled were:
SSGC: The company  posted profit after tax (PAT) at Rs1.0 billion and earnings per share (eps) at Rs1.19 for the six months ended Dec 31, 2012, compared with PAT at Rs 1.5 billion and eps at Rs1.75 for the same period in 2011.
Bestway Cement: The company announced profit after tax (PAT) at Rs2.19 billion, translating into earnings per share (eps) at Rs3.79 for the six months ended Dec 31, 2012, from PAT at Rs725 million and eps at Rs1.25 in the corresponding period the year earlier.
Atlas Insurance: PAT was up to Rs363 million and eps at Rs6.81 for the year ended Dec 31, 2012, from Rs302 million and eps at Rs5.67 the previous year.
The Board distributed handsome cash dividend at Rs4 (40 pc) per share, along with bonus issue at 20 pc (one-for-five shares)
JS Global Capital: The company reported PAT at Rs290 million and eps at Rs 6.81 for the 18-months ending Dec 31, 2012 taking a huge jump from Rs89 million (eps: Rs 1.78) earned in the previous similar period. The board distributed final cash dividend at Rs3 per share, in addition to interim dividends already paid at Rs3.50 per share.

MOHAMMED SALEEM MANSOORI

STOCK MARKET UPDATE:28.02.2013

STOCKS

Karachi Stocks Up 175.35 Points:
KARACHI, Feb 27: At the close of trading, the KSE-100 index was at 18070.25, up 175.35 points.

(Today Market is 64.66 Up@ 11.40 am)

February 27, 2013

 5 TOP GAINERS  &  LOOSERS:

Mithchells Fruit	Rs 13.40	Nestle Pakistan	Rs (131.82)
Sunrays Textile	Rs 9.70	UniLever Pak	Rs (50.00)
Ismail Industry	Rs 6.66	Sunrays Textile	Rs (9.15)
Engro Corporation	Rs 5.31	Millat Tractors	Rs (6.84)
Packages Limited	Rs 5.08	National Foods	Rs (5.34)

Energy stocks lead KSE to new high

KARACHI, Feb 27: Stocks ended at a record high on Wednesday and settling above the technical level of 18,000 points as investors bought heavy weighted energy shares, coupled by buying in Hub Power Co Ltd after it announced strong earnings.
The KSE 100-share index ended 1.04 per cent, or 186.01 points, higher to close above the psychological level of 18,000 points at 18,080.91. It traded in a broad range as it made an intra-day high at 18,088.03 points and an intra day low at 17,876.56 points.
“Market recovered by one per cent after falling for last two trading sessions. Hub Power Company (Hubco) closed at its upper limit after announcing handsome payout for its December quarter. While renewed interest in Engro and oil stocks also supported the index,” said Samar Iqbal, a dealer at Topline Securities Ltd.
Turnover, however, fell further to 269.54 million shares, compared with 312.85m shares traded on Tuesday and trading value also decreased to Rs7.28 billion from Rs8.88bn in the previous trading session. But market capitalisation rose to Rs4.49 trillion from Tuesday’s 4.46tr.
Oil stocks added to the bull-run witnessed in the market on Wednesday as Oil and Gas Development Co Ltd ended Rs3.27 higher at Rs207.28, Pakistan Oilfields gained Rs4.40 to Rs485.78 and Pakistan Petroleum Ltd ended Rs3.29 higher at Rs183.63. Ahsan Mehanti from Arif Habib Corporation said that Pakistan International Airlines share also performed well at the KSE-index after the approval from Economic Coordination Committee for Rs49bn guarantees.
Foreign investors turned into net sellers as they sold shares worth a net $523,402 on Wednesday, compared with buying a net $509,444 on Tuesday, bringing the total net buying for the month at $23.19m.
Companies were the biggest sellers with equity worth $3.49m.
The biggest gainers were led by Mitchell’s Fruit which ended Rs13.40 higher to close at Rs326.9, followed by Sunrays Textile, which closed Rs9.7 higher at Rs204.7. Nestle Pakistan witnessed the biggest loss as it shed Rs131.82 to Rs5,000, followed by UniLever Pakistan, which ended Rs50 lower at Rs10,800.
The KSE-30 index ended 1.27pc, or 185.50 points, higher at 14,833.15.
Out of the 374 companies traded, the value of 197 increased, 153 decreased while 24 remained unchanged.
The telecom sector along with second and third tier shares once again dominated the 10 most active traded stocks: Lafarge Pakistan was the volume leader as it gained 48 paisa to Rs5.83 on turnover of 28.27m shares, Telecard Ltd fell marginally by 2 paisa at Rs7.40 on 25.43m shares and PIAC(A) rose Re1 to close at Rs5.32 on 15.37m shares.
Maple Leaf Cement shed 6 paisa to Rs18.28 on 14.23m shares, Engro Corp closed at its upper circuit after gaining Rs5.31 to Rs116.90 on 13.24m shares and Jahangir Siddiqui Co Ltd decreased by 45 paisa to Rs17.40 on 13.15m shares.
Pakistan Telecommunication Co Ltd rose 15 paisa to Rs23.53 on 12.51m shares, WorldCall Telecom ended flat at Rs3.44 on 10.34m shares and Pace (Pakistan) Ltd gained 16 paisa to close at Rs4.11 on 9.65m shares.
Azgard Nine also ended 16 paisa higher at Rs8.45 on 9.26m shares.
KSE benchmark 100-share index gains 186 points : KARACHI: The Karachi Stock Exchange's (KSE) benchmark100-share index ended 1.04 percent, or 186.01 points, higher at 18,080.90.

Stock market closed higher on Wednesday, supported by an interest in power and oil companies, traders said.

Hub Power, a private electricity generating company, closed at its upper limit after announcing earnings of 4.7 billion rupees and a better-than-expected payout of 4.1 rupees per share for its December quarter. The payout was up 58 percent from last year.

Hub Power Company Ltd rose 4.99 percent to 53.49 rupees, while food and fertilizer conglomerate Engro Corporation rose 4.85 percent to 117 rupees.

The Engro Corporation rose after an agreement with the state-run Oil and Gas Development Ltd that Engro would receive a reliable gas supply, said equity dealer at Topline Securities Ltd.

Pakistan caps stock movements at 5 percent up or down to limit volatility in the market.

In the currency market, the rupee strengthened, closing at 98.09/98.14 against the dollar, compared to Tuesday's close of 98.12/98.17.

Overnight rates in the money market rose to 9.40 percent from Tuesday close of 9 percent. (Reuters)

Company News:

Hubco profit up 58pc: KARACHI, Feb 27: The Hub Power Company Limited (Hubco) announced results for the first half financial year 2013 (1HFY13) on Wednesday, posting profit after tax (PAT) at Rs4.74bn, which translated into earnings per share (eps) at Rs4.10.
The company surprised the market by coming up with higher-than-expected growth of 58 per cent in PAT, which stood at Rs3.0bn and eps at Rs2.59 in the same period last year. The board also announced first interim cash dividend at Rs3.50 per share which also was thought to have belied market rumours a possible cut in payout.
The results were, thus, greeted warmly by the market, which saw the Hubco stock soar by Rs2.54, hitting the ‘upper circuit’ and closing at Rs53.49 on a turnover of 4.7 million shares.
Improved earnings for the half year were primarily attributable to revised Narowal project tariff. Other factors, highlighted by analysts, were U-shaped based return and indexation factor (on account of rupee depreciation and inflation).
The company could also have benefited from efficiency gains. Topline for the 1HFY13 amounted to Rs89.9bn, showing increase of 13 per cent, from Rs79.5 billion, same time a year ago, the improvement attributable mainly to the commissioning of Narowal Project.
Gross profit for the six months of the latest period to Dec 31 stood at Rs8.5bn, up by 23 per cent from Rs6.9bn for the same time last year. Finance costs decreased 5 per cent to Rs3.6bn, from Rs3.7bn in previous comparable half year.  On quarterly basis, the company posted earnings of Rs2.63bn (eps: Rs2.27) for second quarter FY13 representing healthy growth of 50 per cent over the previous similar quarter PAT at Rs1.76bn and eps at Rs1.52.
In line with the historical trend, the profitability of the company improves considerably during second quarter each year owing to recognition of generation bonus during the quarter resulting from high power generation.

MOHAMMED SALEEM MANSOORI