Research & Marketing

                                                                                                                                                                                                                                                                                                   
                                                                                                                                                                                                                                                                                                                                           

SUNRISE CAPITAL “BUSINESS NEWS”
National & International
Friday, December 21,2012

KSE hits 16,900 mark as TRG, Byco shine

Karachi Stock Exchange( KSE) achieved hat-trick of hitting fresh historic all-time highs on Thursday as the main index ended above the never-seen 16,900 levels with market participation improving considerably after investors took keen interest in the TRG Pakistan and Byco Petroleum. The benchmark KSE 100-Index gained 0.23 percent or 38.19 points to close at 16,908.02 levels on Thursday as against close of 16, 869.83 levels reported on Wednesday as both the TRG Pakistan and Byco Petroleum finished the day at their upper circuit-breakers. The KSE 100-Index completed the hat-trick of striking an all- time high, a feat very rare in the global stock markets, as it hit 16,858.68 levels on Monday, 16,869.83 levels on Wednesday, and 16, 908.02 levels on Thursday.

Consultants for 3G/4G in violation of PPRA: NAB

The National Accountability Bureau (NAB) decreed the process for hiring of 3G and 4G consultants a violation of Public Procurement Regulatory Authority (PPRA) rules. The Bureau advised Pakistan Telecommunication Authority (PTA) to ensure compliance with PPRA Rules and summoned a report on December 26. NAB Chairman in a letter to Secretary Ministry of Information Technology (MoIT) summoned the secretary to give detailed presentations on tax evasion, SMS GST evasion, Universal Services Fund (USF) and E-Governance and Auction of Broadband frequency.

Pakistan Stocks Best as Violence Ignored: Riskless Return

Pakistan is handing equity investors the world’s best risk-adjusted returns as terrorist attacks, power blackouts and a war with Taliban insurgents fail to curb gains in consumer spending that sent profits to a record high. The KSE 100 Index, the benchmark for Pakistan’s $43 billion equity market, rose 8.3 percent in the past three years when adjusted for price swings, the top gain among 72 markets worldwide.

Crude prices up in Asia on US inventory forecasts

SINGAPORE: Oil prices rose in thin Asian trade Wednesday, supported by a forecasted fall in US crude supplies, analysts said, while US lawmakers appear to be making progress in fiscal cliff talks.New York s main contract, light sweet crude for delivery in January rose one cent to $87.94 a barrel and Brent North Sea crude for February delivery advanced a cent to $108.85.Traders were heartened by data released by the American Petroleum Institute (API) late Tuesday showing a sharper-than-expected fall in US stockpiles, said Nick Trevethan, senior commodities strategist at ANZ Research.'API crude stocks dropped over four million barrels, which should support oil prices,' he told. The fall was far steeper than the 1.7 million to 2.3 million barrel drawdown projected by various analysts.

Bank Islami Seeks 50% Profit Jump in 2013 after Doubling Branches

Bank Islami Pakistan Ltd. (BIPL), the nation’s second-biggest Islamic bank, is targeting a 50 percent profit increase next year as it doubles its branches to meet demand for Shariah-compliant services. Bank Islami will expand its network of outlets to about 200 in as many as 90 locations by the end of 2013, Chief Executive Officer Hasan Aziz Bilgrami said in an interview. The lender as of December last year operated 102 branches in 49 cities.

ISE-10 stays bullish

 Islamabad Stock Exchange (ISE-10) here on Thursday witnessed bullish trend as the index was up by 7.01 points to close at 3258.55 as compared to the previous day's trading.   The major punters were seen in the intra-day trading leading the market to the positive trend, said the Stock Analyst, Ibrahim while talking to APP.

SBP helps propel rupee

The State Bank of Pakistan’s efforts aimed at arresting the slide of Pak rupee bore fruit on Wednesday when Pak rupee showed some recovery against the US dollar as the parity remained range-bound between Rs97.75 and 97.80 to a dollar.   The rupee also gained strength on the kerb where it was available at Rs98.60 for purchase and at Rs98.80 for sale to a dollar as it improved its parity on the inter-bank market.

TOP TRADES:

Symbol	Price	Change	Volume
TRG	5.03	1.00	35,260,500
BYCO	12.34	1.00	21,014,500
MLCF	15.29	0.43	14,604,000
LOTPTA	7.54	0.18	9,454,500
FCCL	6.44	0.03	4,377,500

Foreign Exchange Rates

US Dollar (USD)                     97.45
UK Pound Sterling (GBP)   158.31
Canadian Dollar (CAD)         98.47
Euro (EUR)                            128.61
Saudi Riyal (SAR)                  25.98
U.A.E Dirham (AED)             26.53
Australian Dollar (AUD)      101.85

Thanks & Regards

Research & Marketing Department

Sunrise Capital (Pvt.) Ltd

www.sunrisecapital.com.pk | 111-786-772 | research@sunrisecapital.com.pk

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