Karachi Stock Exchange Weekly Analysis 29 June, 2013

The Karachi Stock Exchange (KSE) benchmark had experienced an extremely bearish sentiment with profit-taking witnessed for a second consecutive week. KSE – 100 index closed at 21,005.69 points by losing 692.66 points or -3.2 percent.

Average trading volumes, however, declined by 36 percent on week-on-week basis to 207 million shares against 322 million shares last week. Foreign portfolio investment remained at $3.69 million.

Following news have played vital role in Karachi Stock Market index movement:

  • Prime Minister Statement in National Assembly regarding Pervez Musharraf trial under Article‐6 and talk of the re-opening of Swiss cases against President Zardari dampened the market sentiment
  • Investors have serious concerns on foreign selling, post the rout in international markets
  • Investors have also some serious concerns on wealth tax and declining international markets, while according to experts new investment is expected from July 1
  • The results will also start coming from July, which will result positively in the market
  • The energy chain remained in the limelight on the back of Pakistan Petroleum Limited’s announcement of another discovery and approval of a plan to settle Rs503 billion circular debt in two phases by August 10
  • Selloff in the index heavyweight MCB Bank and the Oil and Gas Development Company Limited also forced the index to fall
  • Dismal cement sales data for June 2013 and uncertainty over the release of International Monetary Fund’s (IMF) $5.0 billion bailout package also contributed to the decline
  • Details on circular debt resolution with a total plan of PRs 320bn plan, of which PRs 165bn would be a direct cash injection
  • PPL’s discovery at Hala Block yielding 14.3mmcfd of gas and 125bbl/day of oil
  • Finance Minister in response to queries from the opposition regarding plans to erase PRs503bn in circular debt over 60 days categorically rejected the notion of printing currency notes to clear the liability 
  • The National Assembly approved Finance Bill 2013 through a majority vote. The bill was designed to give effect to the Sales Tax, Federal Excise Duty (FED) and Customs Duties measures from June 13, 2013 with an increase in GST from 16 to 17%, imposition of 17% FED on financial services and 1% 'further tax' on supplies to unregistered persons to mobilize an additional PRs207bn taxes 
  • Reduction in discount rate by 50bps was unable to fuel the market sentiment either, which was anticipated by investors
  • Pakistan could attract investment up to USD10bn for setting up a modernized nationwide network and license fees over the next five to eight years
  • To meet the revenue target of PKR2.475tn for FY13 tax relief announced in the budget windup speech has been adjusted through increase in WHT rate on mobile phone users from 10% to 15%. Mentioned that in consultation with stakeholders it has been decided that the present rate of WHT on cellular users be increased from 10% to 15%, which is adjustable at the time of final assessment 
  • Fatima Group has made all the arrangements to set up one 118.8MW co‐generation power plant in Muzaffargarh at an estimated cost of USD234.72mn
  • Cement also stayed in the green zone, buoyed by post budget cement price hike (Rs30-35/bag) and reeling international energy prices
  • Fertilizer was an underperformer, as latest reports suggest a >60% surge in feedstock gas prices could be on the cards for the sector when the government unveils its latest gas pricing mechanism

Top ten gainers of last week were: IGI Insurance, Pak.Int.Con, Pak Suzuki Motor, Pakistan Telecommunication, Lucky Cement, GlaxoSmithKline, Pak Reinsurance, Nishat Chunian Power, National Refinery and Stand.Chart.Bank.

Top ten losers of last week were: MCB Bank, Pakistan Cables, Jah.Sidd. Co., Allied Rental Mod, B.O.Punjab, Netsol Technologie, Bank AL‐Habib, Engro Corporation, Grays Of Combridge and Attock Refinery.

Top ten volume leaders were: FCCL, PTC, JSCL, BOP, BAFL, TRG, DGKC, LPCL, PSO and ENGRO.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Karachi Stock Exchange Weekly Analysis 22 June, 2013

The Karachi Stock Exchange (KSE) benchmark was jittery as post budget excitement fizzles out. KSE – 100 index closed at 21,698 points by losing 807 points or -3.7 percent. While KSE – 30 index has reached on 16,838.19. Average volumes traded in the market plunged by 13%WoW to 322mn Shares.

The index recorded an unprecedented rally in the last one and a half months and climbed 3,910 points (21%) since the start of May and hit levels never witnessed before on its way to shattering the 22,000-point barrier. According to experts, the correction was bound to happen, and now the stock market’s stunning rally finally came to an end as it experienced a correction.

Following news have played vital role in Karachi Stock Market index movement:

  • SBP did unveil its Monetary Policy Statement for the next two months on Friday (after market hours) where it cut the discount rate by 50bps to 9%
  • Banks earnings will get squeezed due to lower discount rate
  • Investors were seem to be confused on the imposition of GST, and remain cautious during last week because of uncertainty of upcoming monetary policy
  • PPL’s discovery at Gambat Block yielding 16.8mmcfd and 144bbl’s of oil and completion of Lalpir Power’s book building portion (over subscription of 6.0x) with a final strike price of PRs22/sh were the significant developments
  • Federal Board of Revenue clarified that 2% additional tax did not apply to petrol, diesel
  • The government had worked out a multi‐pronged strategy to tackle circular debt and clear PRs503bn of dues within two months to bring back 1,500MW into the system before commencement of Ramzan 
  • Pakistan is expected to get a $5 billion loan from the International Monetary Fund by the first week of Sep‐13
  • May 2013 current account deficit clocking in at US$356mn
  • Cumulative textile exports witnessed a growth of 5.3%YoY and 5.5%MoM to US$1.2bn in May. Resultantly, 11MFY13 exports amounted to US$11.9bn, up 6.0%YoY. The key reasons behind the steady growth were higher demand for yarn from China and higher exports to the European market following the preferential market access for 75 products 
  • Pakistan is losing out approximately PKR1.5bn by failing to exploit Japan’s mango market due to the non‐availability of a VHT plant
  • Urea prices are likely to be increased by PKR35 to PKR1,705/ 50 kgs bag due to changes in GST rate and collection mechanism
  • Cellular mobile companies have expanded their networks to every nook and corner of the country and after two years of relatively slow network growth, cellular industry has shown a growth of 8.4%. Mobile subscribers at the end of March 2013 were 121.13mn, as compared to 118.32mn 
  • IHC declared the amnesty scheme for smuggled vehicles illegal
  • PPL has announced a gas and condensate discovery over its exploration well Wafiq X‐1 located in District Sanghar, Sindh
  • Heavy selling in the index heavyweight oil and MCB shares also kept pressure on the index
  • Decline in coal prices and increase in cement bag prices kept investors interest alive in cement stocks
  • News flowof withdrawal of gas subsidy for fertiliser plants affected the sector stocks
  • A shutter-down strike was observed in Karachi on Thursday, causing a tentative trade loss of almost Rs2 billion due to closure of business and trading activities till 4pm

Top ten gainers of last week were: Pak Tobacco Co, Pakistan Cables, Clariant Pakistan, Netsol Technologie, Bank Of Khyber, GlaxoSmithKline Pak., Kohinoor Energy, Abbot Laboatories, Tri‐Pack Films and Grays Of Combridge.

Top ten losers of last week were: Pace (Pak), TRG Pakistan Ltd, IGI Insurance, JS Bank, Shell Pakistan, MCB Bank, Jah.Sidd. Co., Pakistan Telecommunication, Arif Habib Corp and National Refinery.

Top ten volume leaders were: FCCL, LPCL, BOP, TRG, BAFL, PTC, JSCL, DGKC, PSO and PACE

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Companies Results May - June 2013

Profit/Loss (million): (0.018)
EPS: 1.09
Bouns/Dividend: NIL

Profit/Loss (million): 83.620
EPS: (4.91)
Bouns/Dividend: NIL

Abdullah Shah Ghazi Sugar Mill(Al-Asif Sugar mil)(AGSML)
Profit/Loss (million): (4.805)
EPS: 0.05
Bouns/Dividend: NIL

Profit/Loss (million): 23.736
EPS: (1.11)
Bouns/Dividend: NIL

Profit/Loss (million): (137.384)
EPS: (8.21)
Bouns/Dividend: NIL

Crescent Cotton Mills Ltd (Formely CSMD)(CCM)
Profit/Loss (million): 219.535
EPS: 12.94
Bouns/Dividend: NIL

Profit/Loss (million): 251.419
EPS: 15.51
Bouns/Dividend: NIL

Profit/Loss (million): 84.034
EPS: 1.17
Bouns/Dividend: NIL

Profit/Loss (million): 190.250)
EPS: (13.34)
Bouns/Dividend: NIL

Profit/Loss (million): N/A
Bouns/Dividend: 30.00%

Profit/Loss (million): 2.255
EPS: (2.77)
Bouns/Dividend: NIL

Profit/Loss (million): 160.346
EPS: 0.43
Bouns/Dividend: NIL

Profit/Loss (million): (24.713)
EPS: (2.31)
Bouns/Dividend: NIL

Profit/Loss (million): 345.762
EPS: 6.22
Bouns/Dividend: NIL

Profit/Loss (million): 275.163
EPS: 10.41
Bouns/Dividend: NIL

Profit/Loss (million): (18.368)
EPS: (4.38)
Bouns/Dividend: NIL

Profit/Loss (million): 25.477
EPS: 1.74
Bouns/Dividend: NIL

Profit/Loss (million): (61.786)
EPS: 14.08)
Bouns/Dividend: NIL

Profit/Loss (million): (0.394)
EPS: 2.28
Bouns/Dividend: NIL

Profit/Loss (million): N/A
Bouns/Dividend: Specie Divd.

Profit/Loss (million): 17.090)
EPS: 1.14
Bouns/Dividend: NIL

Profit/Loss (million): (70.379)
EPS: (12.24)
Bouns/Dividend: NIL

Profit/Loss (million): 41.166
EPS: 10.47
Bouns/Dividend: NIL

Profit/Loss (million): 738.936
EPS: 13.40
Bouns/Dividend: NIL

Profit/Loss (million): 88.535
EPS: 7.77
Bouns/Dividend: NIL

Profit/Loss (million): (286.597)
EPS: (36.91)
Bouns/Dividend: NIL

Profit/Loss (million): 6.696
EPS: 2.18
Bouns/Dividend: NIL

Profit/Loss (million): 43.310)
EPS: (7.32)
Bouns/Dividend: NIL

Profit/Loss (million): 173.089
EPS: 11.67
Bouns/Dividend: 7.5% , 10% B

Profit/Loss (million): 83.787
EPS: 16.12
Bouns/Dividend: NIL

Profit/Loss (million): 93.126
EPS: 5.87
Bouns/Dividend: NIL

Profit/Loss (million): 15.089)
EPS: 0.53
Bouns/Dividend: NIL

Profit/Loss (million): 355.514
EPS: 2.73
Bouns/Dividend: NIL

Profit/Loss (million): 172.513
EPS: 15.74
Bouns/Dividend: NIL

Profit/Loss (million): (42.944)
EPS: (5.65)
Bouns/Dividend: NIL

Profit/Loss (million): 234.192
EPS: 1.71
Bouns/Dividend: 2.50%

Profit/Loss (million): 173.626)
EPS: (3.81)
Bouns/Dividend: NIL

Profit/Loss (million): (2.183)
EPS: (0.30)
Bouns/Dividend: NIL

Hum Network Ltd (Formally Eye Television Net. Ltd)(HUMNL)
Profit/Loss (million): 79.341
EPS: 3.96
Bouns/Dividend: NIL

Profit/Loss (million): 13.940
Bouns/Dividend: NIL

Profit/Loss (million): (0.135)
EPS: (0.012)
Bouns/Dividend: NIL

Profit/Loss (million): 28.407)
EPS: (24.42)
Bouns/Dividend: NIL

کراچی اسٹاک مارکیٹ - تجزیہ 19 جون 2013

کراچی اسٹاک مارکیٹ میں یہ ہفتہ عجیب جا رہا ہے ، اس ہفتے کے آگاز میں مارکیٹ میں منفی ردعمل دیکھا گیا اور پیر ،منگل کو مارکیٹ میں 500 سے زیاد پوائنٹس کی کمی ہی . مگر بدھ کے دن مارکیٹ میں مثبت رجحان رہا اور مارکیٹ 100 انڈکس میں 216 پوائنٹس کا اضافہ ہوا . 

اگر ہم اس صورت حال کا جایزہ لیں تو مارکیٹ کی آیندہ پوزیشن کا اندازہ لگانا ذرا مشکل ہے ، تا ہم مندرج ذیل امور اہمیت کے حامل ہیں :-
1) آی .ام .ایف کی ٹیم پاکستان آ گئی ہے اور پاکستان تو 5 - 3 ارب ڈالر قرض مل سکتا ہے .
2 ) اسٹاک ایکسچینج کے بڑے کھلاڑی منافع کمانے کے لیے اپنا پیسہ نکال سکتے ہیں ، اس عمل سے چھوٹے سرمایا دار متاثر ہوں گے .
3 ) اسٹیٹ بینک کی آیندہ متوقع پالیسی میں شرح سود 50 بیسس پوائنٹس کم ہو سکتی ہے ، یہ مارکیٹ پر مثبت اثر انداز ہو گی .
اس ہفتے کے ابھی تک زیادہ ٹریڈ ہونے والے شیئرز میں PSO ،BOP ، FCCL ،POCI ، MLCF شامل ہیں .

Karachi Stock Exchange Weekly Analysis 15 June, 2013

The Karachi Stock Exchange (KSE) benchmark showed a mixed trend during the outgoing week but managed to close on green zone, on budgetary news flow. KSE-100 danced the tune of pro-business budget and gained 433 points or 1.9% in the very next session of FY14 budget. KSE – 100 index closed at 22,541.64 points by gaining 182.68 points or 0.82 percent. While KSE – 30 index has reached on 17,586.37 by gaining 164.5 points or 0.94 percent.

Average trading volumes; however, declined by 28 percent on week-on-week basis to 371 million shares against 517 million shares last week. This week foreign portfolio investment remained at $11.89 million. Events which will be important next week are news flows from meeting with IMF delegation visiting from Wednesday and monetary policy announcement which is scheduled for Friday.

Following news have played vital role in Karachi Stock Market index movement:

  • Policy decisions like settling of circular debt in 60 days,  reduction of 1ppt in corporate tax rate to 34% (not including banks & E&P) and scaling up of PSDP by 32%YoY provided further impetus to performance of the local bourse
  • Investors were in a celebratory mood as none of the pre-budget fears (such as imposition of GST on milk and sugar, hike in cement FED and hike in tax rate on inter-corporate dividends) of the market were realized  
  • The luster of KSE‐100 seems to have faded as net foreign investors turned negligibly negative for the outgoing week
  • Germany is prepared to stand by Pakistan and announced an assistance of €93.5mn for FY14 to support Pakistan’s new democratic government
  • Announcement by MSCI to upgrade Qatar and UAE to MSCI EM Index from MSCI FM Index, which could result in a possible increase of Pakistan’s weight in MSCI FM Index
  • Overseas Pakistanis remitted US$12.762bn in 11MFY13 showing a growth of 5.74% compared to US$12.069bn received during the same period of last year
  • Announcement in the Annual Plan FY14 to complete the IP gas pipeline by Dec’14 and plans to pursue TAPI gas pipeline
  • Monetary Policy is scheduled to be announced on 21st of June, where there is growing consensus for a rate cut
  • Government has increased the GST by 1% to 17%
  • Applicable slab on income chargeable to tax have been increased from 5 to 12, underlining progressive tax regime
  • Turnover tax has been increased from 0.5% to 1%
  • 0.5% withholding tax on net movable assets
  • Income support levy will be imposed at 0.5% on net movable wealth exceeding PKR1.0mn
  • Auto sales in May 2013 surged by 11% MoM to 13,302 units, with PSMC volumes rising by 11% MoM while INDU sales dipping by 4% MoM
  • Cement manufactures immediately passed on the impact of higher GST by hiking cement prices by Rs30-35/bag to Rs485-490/bag. As a consequence the cement stocks rallied upwards with LUCK breaching the PKR200Lshare level along with DGKC reaching PKR88 plus level
  • Reduction in corporate tax rate by 1% to 34% and possible reduction in future to 30% provided the required energy to investors
  • Intention of current regime in resolving the circular debt via PKR503mn pushed the oil and energy stocks
  • Low‐cap stocks continued to generate hefty volumes with BOP, FCCL, TRG and LPCL were among the volume leaders
  • Oil & Gas sector stocks performed exceptionally well in the recent past with PSO, OGDC and MARI leading the market
  • Now the investors would be eyeing at the fiscal year corporate results along with calendar year half yearly announcement
  • Pakistan will likely go to IMF for a bailout package of around USD5bn to USD6bn in order to help and support falling economic condition of the country
  • $1.2 billion anticipated from 3G license auction
  • $800 million expected from Etisilat on account of PTCL privatization

Top ten gainers of last week were: Lafarge Pakistan, TPL Trakker Ltd, Hum Network, Pakistan Cables, International Steels, Fauji Cement Company, National Refinery, P.S.O., Nestle Pakistan and D. G. Khan Cement.

Top ten losers of last week were: Muree Brewery Co, Pak Services, Feroz 1888 Mills, Pak Suzuki Motor, Bank Of Khyber, Lotte Chemical Pakistan Ltd, Faysal Bank, Stand.Chart.Bank, Indus Motor and Dawood Hercules Corp.

Top ten volume leaders were: FCCL, LPCL, PTC, BOP, JSCL, TRG, BIPL, BAFL, DGKC, and SNGP.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

Karachi Stock Exchange Weekly Analysis 10 June, 2013

The Karachi Stock Exchange (KSE) benchmark witnessed a bullish trend. KSE – 100 index closed at 22,358.96 points by gaining 535.91 points or 2.46 percent. While KSE – 30 index has reached on 17,421.87 by gaining 541.71 points or 3.21 percent.

Following news have played vital role in Karachi Stock Market index movement:

  • Positive sentiment was once again driven by the smooth political transition as the week was marked by oath taking of the Prime Minister and induction of the new Federal Cabinet
  • LUCK’s plan to start construction of a cement plant in Congo next month
  • MARI is likely to add 22mmcfd
  • PPL’s acquisition of a new block in Karachi also prompted a positive sentiment
  • Key event of the week was the energy conference convened by the newly elected PM where expectations of hefty liquidity injection followed by structural reforms in the power sector continued to lure participants
  • Key upcoming events include the ‘Federal Budget FY14’ and the upcoming MPS where the low CPI reading for May’13 (5.13%YoY) could provide a basis for a rate cut
  • As per media reports, FBR has decided to rescind the SRO which offers zero-rated general sales tax (GST) facility on dairy products in or before the upcoming FY14 Federal Budget. Potential withdrawal of GST exemption carries huge importance for companies like Engro Foods (EFOODS), where greater than 90% of the company’s revenue is generated from zero rated segment. 
  • On the macro front, inflation figures were released for May 2013, where CPI clocked in at 5.1% i.e. a 9 year low
  • Cement sales figures released for May showing a decline of 1%YoY and 8%MoM
  • National Electric Power Regulatory Authority (NEPRA) approved upfront tariff for coal based power plants
  • Budgetary proposal to tax inter-corporate dividend at 35%
  • The market strongly supported by foreign inflows clocking in at US$ 29 million
  • OGRA announced an increase in petrol price while reducing High Speed Diesel (HSD) price
  • The World Bank (WB) approved a US$100 million loan to finance reforms in the health sector of Punjab
  • Media reports suggested that the FBR proposed to the govt to raise tax rate on inter‐company dividends from the current level of 10% to the normal corporate income tax rate of 35% in the upcoming FY14 budget 
  • With the recent announcement of stopping the gas supply to SNGPL based urea plants, ENGRO, DAWH and AGTL came under selling pressure
  • TCP awarded tender for 50k tons of urea imports
  • The banking stock came into limelight with MCB outpacing the benchmark as well as its pears. HBL and ABL also performed exceptionally well despite NIM attrition issues
  • FBR has proposed enhancement in the sales tax rate from 16 to 20% on supply of electricity and natural gas to all industrial and commercial consumers to encourage voluntary registration and documentation
  • The proposed 5% WHT on purchase of new motor cars and jeeps would not be applicable to Federal Government, Provincial Governments, local Governments and foreign diplomats

Top ten gainers of last week were: GlaxoSmithKline Pak., MCB Bank, Netsol Technologie, Pace (Pak), Abbot Laboatories, International Industries, Fatima Fert.Co., Lotte Chemical Pakistan, Stand.Chart.Bank and Habib Bank.

Top ten losers of last week were: Mari Petroleum, NIB Bank, Bankislami Pakistan, EFU Life Assur Ltd., Pak Services, Nestle Pakistan, Hum Network, EFU General Insurance, JS Bank and Dawood Hercules Corp.

Top ten volume leaders were: BOP, FCCL, PACE, JSCL, PTC, TRG, LOTCHEM, NIB, NBP, and KESC.

Thank you very much for reading this article.

NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram

کراچی اسٹاک مارکیٹ تجزیہ - 2 جون 2013

کراچی اسٹاک مارکیٹ میں پچھلا بہت تیز رہا اور انڈکس 540 پوائنٹس اضافے کے بعد 21823 پر بند ہوا.مارکیٹ میں  ٹوٹل 463 ملین شیئرز کا کاروبار ہوا  یہ اضافہ اس سے پچھلے ہفتے کے مقابلے میں  %5 زیادہ رہا. بیرونی سرمایاکاری کا حجم  89 .11 ملین ڈالر رہا.

تجزیہ کاروں کے مطابق، اس ہفتے میں بھی مارکیٹ میں ملا جلا رجحان رہے گا کیونکے اقتصادی میدان میں کوئی نی پیشرفت نہیں ہی . تا ہم سرمایا دار پاکستان مسلم لیگ (ن ) پر اعتماد کر رہے ہیں اور امید کی جا رہی ہے کہ آیندہ حکومت توانائی کے بحران کو حل کرنے کی طرف توجہ دے گی اور ملک میں کاروباری سرگرمیاں عمل میں آے گی .

مندرج ذیل سرگرمیاں اہمیت کی حامل ہیں :-
  • پاکستان مسلم لیگ (ن ) 5 ارب روپے کے نے بانڈز متراف کرانے کا ارادہ رکھتی ہی ، یہ رقم توانانی بحران کو حل کرنے مے خرچ کی جانے گی .
  • بیرونی سرمایا کار کی توجہ زیادہ تر PSO ،PPL ،POL، OGDC  اور MCB پر رہی، جبکے اندرونی سرمایا کار زیاد تر BOP ، FCCL ، NIB اور داود سیمنٹ میں متحرک نظر آے .
  • فیڈرل بورڈ آف ریونیو (ایف بی آر) نے ڈیری اور دیگر مصنوعات پر صفر ریٹیڈ کی سہولت واپس لے لی لیکن یہ خبر اسٹاک ایکسچینج میں مثبت رفتار کو نہیں توڑ سکا .
  • اسٹیٹ بینک کی جانب سے ڈسکاؤنٹ ریٹ میں 50 بیسس پوائنٹس کی کمی متوقع ہے ، اس وجہ سے بینکنگ سیکٹر میں گراوٹ دیکھی گئی 
  • سر تاج عزیز نے کہا ہے کہ حکومت GST کی شرح %17 کر سکتی ہے 
  • جہانگیر صددیقی گروپ نے اس بات کی تردید کی ہے کہ JSBL پر کسی قسم کی کوئی تفتیش نہیں ہو رہی.
گزشتہ ہفتے کے سب سے اوپر دس شیئرز میں تھے: BO Punjab، این آئی بی بینک (NIT )، پاک سروسز، ہم نیٹ ورک، TRG پاکستان لمیٹڈ، گلیکسو اسمتھ کلائن پاک، Jah.Sidd. کمپنی، ماری پٹرولیم، انڈس موٹر اور Bankislami پاکستان.  

گزشتہ ہفتے کے سب سے اوپر دس نقصان اٹھانے والے تھے: غنی گلاس، مری Brewery شریک، Javedan کارپوریشن، باٹا (پاکستان) لمیٹڈ، جے ایس گروتھ فنڈ، Shifa انٹرنیشنل ہسپتال، الائیڈ بینک، TPL Trakker لمیٹڈ، تال لمیٹڈ اور داؤد ہرکیولس کارپوریشن.

 سب سے زیادہ حجم رہا : بینک آف پنجاب، TRG، PTC، نب، JSCL، FCCL، رفتار، کے ای ایس سی، LOTCHEM، اور LPCL.

Karachi Stock Exchange Weekly Analysis 2 June, 2013

The Karachi Stock Exchange (KSE) benchmark witnessed a mixed trend but still managed an accumulative gain of 540 points and maintained its record-breaking streak. KSE – 100 index closed at 21,823.05 points by gaining 540 points or 2.5 percent. Average trading volumes also improved by 5.2 percent week on week to 462 million shares against 439 million shares last week. This week foreign portfolio investment remained at $11.89 million.

According to analysts, market will witness mixed trend in next week as well, because there was no new development at the economic front. The market will move according to the policy announcements of new government. Investors maintained their confidence level on the back of PML-N’s pro-business stance and hopes on the resolution of the energy crisis in the country. Investors will focus on announcement regarding consumer price index, upcoming monetary policy, and budget related developments.

Following news have played vital role in Karachi Stock Market index movement:

  • PML-N was planning to issue five billion rupees treasury bills in order to clear the circular debts
  • Nawaz Sharif gave statement to prioritise energy sector in his tenure, which invited interest of investors in energy sector
  • Though foreign fund investment decreased in the week, it still continued in energy and other blue-chip stocks. Foreign buyers diverted their investment from Unilever Pakistan after its buyback from the stock exchanges in the country
  • Pakistan State Oil, Pakistan Petroleum Limited, Oil and Gas Development Company and MCB Bank Ltd saw more foreign buying this week. While local investors were also seen highly active in mid-cap stocks like Fauji Cement, Dawood Cement, NIB and BOP
  • Federal Board of Revenue (FBR) withdrew the zero-rated facility on dairy and other products but this news could not break positive momentum at the stock exchange
  • The banking sector remained under pressure since it pushed down the market by 0.5 percent mainly on the grounds of risk of further shrinkage in spreads in case of further cut in discount rate in the monetary policy
  • Sentiment in Bank of Punjab is associated with the PML-N government and likelihood of improvement in financial health
  • Sartaj Aziz said, GST could be raised to 17% by new government
  • Analysts predict CPI inflation between 4.79% to 5.07% in May, as food and energy prices remained stable during the month
  • Jehangir Siddiqui Group denied that the JSBL was under any investigation by the SECP in relation to shares of ANL. This was in reference to the story published on May 28, 2013, which cited letters written by the NAB, chairman SECP, NBP and others 
  • Pakistan can get a massive blow to its remittances as KSA has declared 30,000 Pakistani expatriates illegal immigrants following new employment law Nitaqat

Top ten gainers of last week were: B.O.Punjab, NIB Bank, Pak Services, Hum Network, TRG Pakistan Ltd, GlaxoSmithKline Pak., Jah.Sidd. Co., Mari Petroleum, Indus Motor and Bankislami Pakistan.

Top ten losers of last week were: Ghani Glass, Muree Brewery Co, Javedan Corporation, Bata (Pak) Ltd., JS Growth Fund, Shifa International Hospitals, Allied Bank, TPL Trakker Ltd, Thal Ltd and Dawood Hercules Corp.

Top ten volume leaders were: BOP, TRG, PTC, NIB, JSCL, FCCL, PACE, KESC, LOTCHEM, and LPCL.

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NOTE: The information posted in this blog (forum) is based on current affairs & investors point of view. There may be discrepancy in the ground realities.

Written by: Rana Khurram