News

Equities gain a foothold

A positive trend prevailed at the Karachi share market Thursday and the benchmark index KSE-100 closed above 30,000 points level. The index gained another 85 points to reach 30,025 points compared to 29,940 points Wednesday. During the intraday trading, the index fluctuated in red and green zones, touching 30,049 points highest and 29,938 points lowest levels. Following a positive trend, the volume moved upward as overall some 191 million shares were traded compared to 172 million in the previous session. Ahsan Mehanti of Arif Habib said the equity market closed higher in the quarter-end earnings announcement session as global equities recovered from sharp fall this week. Investor interest remained in select stocks across-the-board on easing political concerns and favourable government borrowing data Jul-Oct�14, he added. Hopes for major developments in China power projects funding and privatisation plan of SOEs played a catalytic role in the bullish activity at KSE," he added. Market capitalisation increased by Rs 24 billion to Rs 7.004 trillion up from Rs 6.980 trillion. Trading took place in 410 companies, of which 212 closed in green zone, 176 in the red, while 22 remained unchanged. Analysts said Engro Fertilizer +1.2 percent lifted investor spirit with an impressive 9M2014 EPS of Rs 4.19 vs Rs 2.77 (9M2013). The automobile sector saw profit-taking with GTYR sliding southwards to reach its lower circuit following disappointing earnings, whereas in the pharma sector SEARL reached its upper circuit following a promising EPS of Rs 4.37 in 1QFY15 (growth of 136 percent YoY), they added. Among top 10 volume leaders, nine companies recorded a positive trend. With 18.7 million shares volume, Pak Elektron (R) emerged the volume leader, gaining Re 0.63 to close at Rs 7.77. Pak Elektron stood second, up Re 0.64 to close at Rs 27.78 on 12 million shares. Engro Fertilizer ranked third with 6.6 million shares, gaining Re 0.66 to Rs 56.12. Maple Leaf Cement closed at Rs 29.32, up Re 0.31 on 5.7 million shares. Some 5.3 million shares of Faysal Bank were traded and the scrip moved up by Re 0.09 to Rs 18.92. Fauji Cement gained Re 0.33 to Rs 21.60 on 5.2 million shares. With 5.1 million shares volume, B.O.Punjab decreased by Re 0.11 to Rs 8.59. Lotte Chemical closed at Rs 6.99, gaining Re 0.16 on 5 million shares. Nishat (Chun) moved up by Re 0.93 to Rs 42.02 on 4.9 million shares. With some 4.9 million shares, Jah. Sidd. Co closed at Rs 10.08, up Re 0.26. Nestle Pak and Fazal Textile SPOT were the top gainers with Rs 275.00 and Rs 41.50 to close at Rs 8,990.00 and Rs 890.50, respectively. Rafhan Maize and Wyeth Pak Ltd were the top losers with Rs 304.99 and Rs 200.00 to close at Rs 11,395.00 and Rs 4,300.00, respectively.
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LSE index improves marginally

Equities on Thursday extended further gains amid decreased trading turnover on the Lahore Stock Exchange. The LSE-25 index was marginally improved by 3.21 points to close at 5292.66 against 5289.45 of Wednesday while transaction volume was squeezed to 1.315 million shares compared with day earlier volume of 2.208 million shares. The market was opened on a healthy note and stayed in green zone following buyer�s interest in Hascol Petroleum, Cherat Cement, Fecto Cement, D.G. Khan Cement, Gharibwal Cement, United Distributors, Allied Bank, Kohinoor Textile Mills and Nishat Chunian. However, the oil sector shares including Pakistan Oil Fields, PSO and Mari Petroleum remained under selling pressure while Akzo Nobel Pakistan, Dewan Farooq Motors, Adamjee Insurance, PICIC Investment, Descon Chemicals, Dewan Salman Fibre and PTCL also registered declines. The advancing stocks were ahead of the declining ones, as of 104 active companies, 27 posted gains, 18 suffered losses while 59 companies stayed unchanged at their previous closing. Highnoon Laboratories gained Rs 7.89, Hascol Petroleum was improved by Rs 3.15 Cherat Cement was appreciated by Rs 2.89 while United Distributors and Allied Bank were up by Rs 1.77 and Rs 1.72, respectively. Pakistan Oil Fields lost Rs 4.84, PSO was declined by Rs 4.20 while Akzo Nobel Pakistan shed Rs 4. Gharibwal Cement with trading of 325,000 shares topped the volume leaders followed by Fauji Cement with 184,000 shares.
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ISE index rises by 33.96 points

Bulls dominated the proceedings at the Islamabad Stock Exchange (ISE) on Wednesday, where equities continued to move in upward direction with positive trend at the ISE amid increase in index. ISE Ten Index showed an improvement of 33.96 points as the ISE Ten Index moved from 4,099.94 to 4,133.90 points. The overall turnover amounted to 2,000 shares as compared to previous volume of 100,700 shares. Total 154 companies participated in buying and selling activity. Majority of stocks (91) closed in positive territory, 63 closed in negative territory, whereas no company remained pegged to its overnight levels. The volume of Fauji Cement Limited was 1,000 shares. The volume of Silk Bank Ltd was 100 shares.
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BRIndex30 gains 68.02 points

On Thurs-day, BRIndex30 opened at 16,089.50 points. It touched an intraday high of 16,186.10 points and an intraday low of 16,078.34 points and closed at 16,157.52 points which was 68.02 points or 0.42 percent higher than previous close. Total volume was 82,737,000, which was 43.26 percent of KSE All share volume and 76.28 percent of KSE 100 volume. The KSE All Share volume was 191,242,880 and KSE 100 volume was 108,461,400. BR Commercial Banks Index closed at 7,353.14 points with a net positive change of 60.57 points or a percentage change of 0.83 and a total turnover of 23,979,500 shares. BR Cement Index closed at 3,409.14 points with a net positive change of 24.46 points or a percentage change of 0.72 and a total turnover of 24,922,700 shares. BR Oil and Gas Index closed at 3,824.56 points with a net negative change of -21.66 points or a percentage change of -0.56 and a total turnover of 3,856,000 shares. BR Tech & Comm Index closed at 883.74 points with a net positive change of 6.4 points or a percentage change of 0.73 and a total turnover of 11,979,800 shares. BR Power Generation and Distribution Index closed at 4,818.60 points with a net positive change of 65.79 points or a percentage change of 1.38 and a total turnover of 11,234,500 shares.
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Companies Announcements

FEROZSONS LABORATORIES

GHANDHARA INDUSTRIES LIMITED

IGI INSURANCE

FIRST HABIB MODARABA

GHANDHARA INDUSTRIES LIMITED

INDUS MOTOR COMPANY LIMITED

SOUTHERN ELECTRIC POWER

FIRST HABIB MODARABA

FAYSAL BANK LIMITED

NATIONAL FOODS LIMITED

HABIB METROPITLAN BANK

ABBOTT LABORATORIES

PICIC ISLAMIC STOCK FUND

PICIC ISLAMIC INCOME FUND

PICIC STOCK FUND

PICIC INCOME FUND

PICIC ENERGY FUND

PICIC INVESTMENT FUND

PAK-GULF LEASING COMPANY LIMITED

PICIC GROWTH FUND

JS GLOBAL LIMITED

SAZGAR ENGINEERING WORKS

PICIC CASH FUND