Re-launching of 18 scrips takes KSE 19.39 points up
Monday, 27 July 2009
KARACHI, July 26: Bull reigned the Karachi stock market during the week on support from buying activities as Securities and Exchange Commission of Pakistan (SECP) approved the re-launching of deliverable futures contract in 18 scrips.
The Karachi Stock Exchange (KSE) 100-share index gained 19.39 points or 0.2 per cent to close at 7,783.40 points as compared to 7,764.01 points of the previous week.
Other major factors that supported the market included approval of dividends for Letter of Comfort (LoC) unit holders of National Investment Trust (NIT), rise in international oil prices and renewed interest of foreign investors. The turnover was recorded at 193.04 million shares as compared with 183.81 million shares of the previous week, reflecting an increase of 5.02 per cent.
"The SECP's approval of 18 future securities and monetary policy statement prospects elated investors' mood at the start of the week," said analyst at JS Research Mustafa Bilwani. "SBP's announcement of a delay in the monetary policy till August 15 dragged the market into the red on the last trading session of the week.
Foreigners continued to be the net buyers for the sixth week in a row. They bought shares worth $19.6 million and sold shares worth $14.7 million, resulting in net buying of $4.9 million. Hence, during the last 6-weeks, foreigners were net buyers of $36.9 million worth of shares.
Regional markets were in the positive zone on account of better than expected US economic data, where Dow Jones crossed the 9,000 points barrier for the first time since the start of the year. SSEA, PSI, Sensex, KOSPI and JKSE were up by 5.7 per cent, 4.8 per cent, 4.3 per cent, 4.3 per cent and 3.8 per cent respectively.
Currently, the local market is trading at 48 per cent discount to region on one-year forward earnings multiple. Interestingly, with 4.3 per cent rise in Indian market this week, the KSE 100-share index is now trading at 54 per cent discount to Bombay Stock Exchange on earnings multiple.
FFBL and EPCL were among the major companies who announced their results this week. FFBL posted an earning per share of 53 paisas down 31 per cent on yearly basis. UBL, Engro and FFC are the major companies, which will be announcing their financials in the coming week. Any positive earning surprises can be expected to lead to short-term rallies in these scrips.
"Investors remained optimistic for significant rate cut in the monetary policy," said analyst at Shahzad Chamdia Sec Ahsan Mehanti. "Positions were taken in blue chips in oil, fertilizer and cement scrips on expectations of record payouts in the result announcement session, which also helped the market to stabilise."
ISLAMABAD: Investors preferred to off-load their holdings at the Islamabad stock market during the week, analysts said on Saturday. The Islamabad Stock Exchange (ISE) 10-share index decreased by 5.38 points to close at 1,849.85 points as against previous week's close of 1,855.23 points.
The index remained negative for two days (July 20 and 24) and was positive for three days (July 21, 22 and 23). Total volume of transactions stood at 6.79 million shares as compared to 6.87 million shares last week, showing a net decrease of 0.08 million shares or 1 per cent.
Minimum transaction in the outgoing week was recorded on July 21 when the market reached 0.872 million shares and the index increased by 24.02 points to close at 1,860.41 points from the previous level of 1,836.39 points.
The maximum transaction in the outgoing week was 1.785 million shares while last week it was 1.705 million shares. The maximum decrease in the share price of a company was observed in Siemens Engineering, the price of which decreased by Rs 46.05 on July 20 when the index fell 18.84 points.
The maximum share price increase of a company was also observed in Siemens Engineering, which surged Rs 46 on July21 when the index went up by 24.02 points.
LAHORE: The Lahore Stock Exchange (LSE) remained bullish during the week with an attractive turnover on the last trading day as compared to previous Friday. The LSE 25-share index closed at 2,379.02 points as against previous week's closing at 2,352.90 points, reflecting a rise of 26.12 points.
The volume of the market remained at 20.74 million shares, which was around three million shares more than previous Friday's turnover of 17.25 million shares. The cement sector remained active during the week.
The Karachi Stock Exchange (KSE) 100-share index gained 19.39 points or 0.2 per cent to close at 7,783.40 points as compared to 7,764.01 points of the previous week.
Other major factors that supported the market included approval of dividends for Letter of Comfort (LoC) unit holders of National Investment Trust (NIT), rise in international oil prices and renewed interest of foreign investors. The turnover was recorded at 193.04 million shares as compared with 183.81 million shares of the previous week, reflecting an increase of 5.02 per cent.
"The SECP's approval of 18 future securities and monetary policy statement prospects elated investors' mood at the start of the week," said analyst at JS Research Mustafa Bilwani. "SBP's announcement of a delay in the monetary policy till August 15 dragged the market into the red on the last trading session of the week.
Foreigners continued to be the net buyers for the sixth week in a row. They bought shares worth $19.6 million and sold shares worth $14.7 million, resulting in net buying of $4.9 million. Hence, during the last 6-weeks, foreigners were net buyers of $36.9 million worth of shares.
Regional markets were in the positive zone on account of better than expected US economic data, where Dow Jones crossed the 9,000 points barrier for the first time since the start of the year. SSEA, PSI, Sensex, KOSPI and JKSE were up by 5.7 per cent, 4.8 per cent, 4.3 per cent, 4.3 per cent and 3.8 per cent respectively.
Currently, the local market is trading at 48 per cent discount to region on one-year forward earnings multiple. Interestingly, with 4.3 per cent rise in Indian market this week, the KSE 100-share index is now trading at 54 per cent discount to Bombay Stock Exchange on earnings multiple.
FFBL and EPCL were among the major companies who announced their results this week. FFBL posted an earning per share of 53 paisas down 31 per cent on yearly basis. UBL, Engro and FFC are the major companies, which will be announcing their financials in the coming week. Any positive earning surprises can be expected to lead to short-term rallies in these scrips.
"Investors remained optimistic for significant rate cut in the monetary policy," said analyst at Shahzad Chamdia Sec Ahsan Mehanti. "Positions were taken in blue chips in oil, fertilizer and cement scrips on expectations of record payouts in the result announcement session, which also helped the market to stabilise."
ISLAMABAD: Investors preferred to off-load their holdings at the Islamabad stock market during the week, analysts said on Saturday. The Islamabad Stock Exchange (ISE) 10-share index decreased by 5.38 points to close at 1,849.85 points as against previous week's close of 1,855.23 points.
The index remained negative for two days (July 20 and 24) and was positive for three days (July 21, 22 and 23). Total volume of transactions stood at 6.79 million shares as compared to 6.87 million shares last week, showing a net decrease of 0.08 million shares or 1 per cent.
Minimum transaction in the outgoing week was recorded on July 21 when the market reached 0.872 million shares and the index increased by 24.02 points to close at 1,860.41 points from the previous level of 1,836.39 points.
The maximum transaction in the outgoing week was 1.785 million shares while last week it was 1.705 million shares. The maximum decrease in the share price of a company was observed in Siemens Engineering, the price of which decreased by Rs 46.05 on July 20 when the index fell 18.84 points.
The maximum share price increase of a company was also observed in Siemens Engineering, which surged Rs 46 on July21 when the index went up by 24.02 points.
LAHORE: The Lahore Stock Exchange (LSE) remained bullish during the week with an attractive turnover on the last trading day as compared to previous Friday. The LSE 25-share index closed at 2,379.02 points as against previous week's closing at 2,352.90 points, reflecting a rise of 26.12 points.
The volume of the market remained at 20.74 million shares, which was around three million shares more than previous Friday's turnover of 17.25 million shares. The cement sector remained active during the week.