Karachi Stock Exchange Weekly Analysis 22 December, 2012

The Karachi Stock Exchange (KSE) index movement was very cautious and range bound same as per last week. KSE – 100 index closed at 16,865.34 points by gaining 20.25 points or 0.1 percent. Average volumes increasing by 2%WoW to 136 million shares, indicating that interest was still tilted towards speculative stocks.

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

  • Directorate of National Savings is reviewing a cut in profit rate on NSS instruments by 50‐100bp. This follows recent 50bp cut in discount rate by SBP
  • Forex reserves declined to US$ 13.21 billion
  • Telecommunication and Textile stocks were under the limelight on account of 3G auction process and International Clearing House (ICH) case and also for the textile numbers being released during the week
  • Cement stocks are also performing better backed by change in dynamics of the industry due the better selling prices and lower coal prices
  • Foreign flows more or less offset each other with a nominal net outflow of US$ 0.14 million
  • Ministry of Petroleum was considering to impose PRs15/mmbtu District Development Surcharge (DDS) across all gas consumer categories
  • Byco Oil Pakistan Limited announced the completion of Pakistan largest oil refinery with designed capacity of 120kbpd at District Lasbella, Balochistan. The cumulative capacity of the refinery will now increase to 155kpbd and can be further enhanced to 180kbpd
  • PSO started importing petroleum products through PNSC. PSO expected annual saving of US$ 25 million on freight for FO and additional US$ 10 million on Motor gasoline, where the company would start importing Motor gasoline through PNSC from Mar‐2013
  • LSM growth is recorded at a mere 1.9% between 13 says the PBS. Textiles, the mainstay of the economy, have recorded a fall of 0.3% as against a rise of 1.2% in the corresponding period of 4MFY13
  • The used car dealers have increased prices of 5‐year old imported used cars by up to 14% and are fleecing customers

TRG Pakistan, NIB Bank, Rafhan Maize, Nestle Pakistan Limited, Colgate Palmolive, Siemens Pak Engg, Indus Motors, Shel Pakistan, Pak Oilfields, and Fauji Fert BinXD were the major gainers while Soneri Bank, Grays Of Cambridge, Murree Brewery, J.D.W Sugar, Pak. Int. Cont. Ter. Ltd., Bata Pakistan, Sui South Gas, Bank of Khyber, Sui North Gas Pipe, and Arif Habib Corp. were major losers in the benchmark KSE-100 this week.

Top average daily turnover for the week are: TRG, BYCO, MLCF, JSCL and DCL

Top ten volume leaders were: TRG, JSCL, HUBC, FCCL, DGKC, KESC, FFC, NIB, NCL and PTC.

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

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