BMA Today for January 27, 2012 
 
     FRIDAY 27 January 2012 
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At a Glance

Previous Market Session
Local Market    
 KSE 100 11,883.92

▼

 65.83
 KSE T. Value PKRbn 4.02

▼

 0.47
 10YR PIB 12.27

▼

 0.01
 6M KIBOR 11.82

▼

 0.03
 PKR/USD 90.25

►

 0
Asia Pacific    
 BSE SENSEX 30 17,077.18

►

 0
 NIKKEI 225 8,849.47

▼

 34.22
 STRAITS TIMES INDEX 2,894.43

▲

 2.79
 KUALA LUMPUR 1,523.86

▲

 4.1
 JAKARTA COMP. 3,983.43

▲

 19.83
 THAI SET 50 1,068.54

▲

 12.53
Middle East    
 DFM GENERAL 1,405.82

▲

 9.78
 TADAWUL ALL SHARE 6,476.86

►

 0
 MSM30 INDEX 5,595.97

▲

 9.53
 KUWAIT SE WEIGHTED 405.09

▲

 3.11
 DSM 20 INDEX 8,434.70

▲

 14.17
Global Markets    
 OIL (NYMEX) 99.7

▲

 0.3
 US 10YrBOND 1.97

►

 0
 LIBOR6MTH 0.79

▲

 0.05
 FTSE 100 5,795.20

▲

 72.2
 DOWJONES 12,734.63

▼

 22.33
 S&P 500 1,318.43

▼

 7.63
       
 
In Focus
Cement: Life after CCP Raid and LUCK 1HFY12 Preview

   Based on our recent discussion with the cement industry we downplay the risk of any sudden fall in local cement prices due to major factors including persistent increase in cost pressures of local components

   Resultantly, we believe that despite no major uptick in dispatches, local cement prices would continue to remain at current levels of PKR410-425 per bag in 2HFY12 as well, thus contributing into double digit growth for cement sector in FY12

   We expect Lucky’s bottom line to remain in tune of PKR3.05bn (EPS PKR9.50) compared to PKR1.46bn (EPS PKR4.52) in the same period last year

   Moreover, 2QFY12 is expected to conclude in more optimistic note as we expect the company to post profit of PKR1.55bn (EPS PKR4.80) up 112% compared to PKR734mn (EPS PKR2.27) in the corresponding period last year

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Media Watch

Equity: SECP to promote capital markets abroad \ The News
Economy: Fiscal deficit to soar beyond 7pc \ Business Recorder
National: Sanctions not to affect plan for Iran gas: FO \ Dawn
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Trailblazer
KSE100: Now testing critical support


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   Previous Session
Equity Round Up
KSE100 Index further loses 66 points

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Forex Round Up
PKR is expected to trade between 90.00 - 90.40

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Fixed Income Round Up
Rates are expected to slightly move today

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 Important Info  
 
 
 
   
 BMA CAPITAL - Pakistan's Premier Investment Group
  Capital Markets | Corporate Finance | Asset Management | Research | Retail Brokerage | Funds Distribution 		   www.bmacapital.com    

DISCLAIMER
This memorandum is produced by BMA Capital Management Limited and is only for the use of their clients. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and should not be relied upon as such. Opinions expressed may be revised at any time. This memorandum is for information only and is not an offer to buy or sell, or solicitation of any offer to buy or sell the securities mentioned.