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Tuesday, 9 August 2011

DAILY STOCK MARKET REPORT: 10th AUGUST,2011


Stock
Karachi Stocks Down 371.97 Points:
KARACHI, Aug 09: At close of trading, the KSE-100 index was at 11032.20, down 371.97 points.
August 9, 2011

5 TOP SCRIPTS GAINERS AND LOOSERS
UniLever Pak Rs 62.07 Nestle Pakistan Rs (80.84)
Nadeem Textile Rs 2.82 Siemens Pak Rs (36.09)
Al-Abbas Sugar Rs 2.30 Millat Tractors Rs (18.44)
General Tyre Rs 1.06 Pak Oilfields Rs (16.98)
Ansari Sugar Rs 1.00 Attock Petroleum Rs (12.29)

KSE 30 – Shares Index Previous 10,815.22, Tuesday’s 10,407.25, minus 407.97 points.
KSE 100 – Shares Index Previous 11,404.17, Tuesday’s 11,034.92, minus 369.25 points.
MARKET CAPITALIZATION Previous Rs.3,015.528bn, Tuesday’s 2,922.222bn, minus 93.306bn.
VOLUME LEADERS Lotte Pakistan 5.980m, PTCL 5.065m, Bank AlFalah 3.990m, National Bank 3.983m, Pakistan Oilfields 2.859m share.
TOTAL VOLUME 69.143m shares
TOTAL TONE:bearish,total listed 637,actives 327,inactives 310,plus 54,minus 195,unchanged 78


Karachi stock market down by 369.25 points
KARACHI – The Karachi Stock Exchange (KSE)’s 100-share index shed 369.25 points and closed at a nine-month low of 11,034.92 August 9.
The KSE index has lost 8.2% in 2011.

The market drop resulted from fears that foreign investors would sell their shares because of the decline in regional markets, media reported.

Meanwhile, gold prices in local markets have broken records, with 10g selling for Rs. 48,800 (US $563), Samaa TV reported.

The Sindh Jewellers Association announced August 9 that the price went up Rs. 1870 (US $22) in a single day, Samaa reported. According to the report, a tola (a local unit equivalent to about 12.5g) reached a record of Rs. 57,000 (US $658).

KSE 100-index plunges by 369 points
KARACHI, Aug 9: The share market took another massive plunge on Tuesday in sympathy with falling regional bourses amid fears that foreign investors may indulge in panic-selling if the financial turmoil continued.
The benchmark KSE 100-index, which suffered sharp decline of 3.24 per cent or 369.25 points at 11,034.92 points was at one stage close to breach through the barrier of 11,000 points but late buying on selected counters allowed it to close above it.
Leading oil shares fell despite higher earnings reported by the oil giant PSO owing to hasty selling which pushed the entire market in the minus column. PSO itself was down by Rs9.59 at Rs205.67 on 0.953m shares.
Others including Attock Petroleum, National Refinery, Pakistan Oilfields, Shell Pakistan, including the index heavy-weight OGDC, also fell like ninepins.
Analysts said downgrading of the US sovereign credit rating by the Standard & Poor’s and fears of global recession continued to cause turmoil on the world commodity and oil markets and the consequent sell-off.
They said the fear that foreign investors may enter any time and liquidate long positions, notably in the oil sector if the current turmoil continued on the regional markets kept investors on the sidelines most of the time.
The near-term outlook appeared to be a bit bearish as investors were not inclined to make bigger commitments even at the falling prices and awaited the return of the normalcy to the world markets, they added.
Minus signs again dominated the list under the lead of Nestle Pakistan and Siemens Pakistan, off Rs80.84 and Rs36.09, while Unilever Pakistan and Nadeem Textiles, which among the top gainers.
Traded activity fell to 69.143m shares from the previous 107m shares as losers held a strong lead over the gainers at 195 to 54, with 78 shares holding on to the last levels.
The active list was topped by Lotte Pakistan, lower 72 paisa at Rs10.01 on 6m shares followed by PTCL, easy by one paisa at 10.56 on 5m shares, Bank Alfalah, lower 12 paisa at Rs10.06 on 4m shares, National Bank, off Rs2.31 at Rs44.00 also on 4m shares, Pakistan Oilfields, sharply lower by Rs17.98 at Rs329.80 on 3m shares, Fauji Fertiliser off Rs4.98 at Rs151.87 also on 3m shares and Fauji Fertiliser Bin Qasim, off 81 paisa at Rs45.27 on 3m shares.
They were followed by Engro Corporation, off Rs6.50 at Rs123.59 on 3m shares, Arif Habib Corporation, off Rs1.21 at Rs22.79 also on 3m shares and JS & Co, lower 25 paisa at Rs5.39 on 2m shares.
FUTURE CONTRACTS: Pakistan Oilfields led the list of actives, off Rs17.15 at Rs330.90 on a large volume of 1.135m shares followed by National Bank, easy by Rs2.33 at Rs44.43 on 0.761m shares and Fauji Fertiliser, down 66 paisa at Rs45.60 on 0.457m shares.
They were followed by Engro Corporation, off Rs6.52 at Rs124.06 on 0.437m shares and Nishat Mills, lower Rs1.90 at Rs38.42 on 0.401m shares.
DEFAULTER COMPANIES: The activity on this counter was relatively slow for want of buying support. However, Ravi Textiles came in for stray support and was marked up by five paisa at Rs0.82 on 0.117m shares followed by Invest Bank, easy six paisa at Rs0.24 on 29,074 shares and Shakarganj Foods, up 19 paisa at Rs5.84 on 20,500 shares.

Mohammed Saleem Mansoori

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