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Monday, 22 August 2011

DAILY STOCK MARKET REPORT: 23RD AUGUST,2011


Stock
Karachi Stocks Up 14.33 Points:
KARACHI, Aug 22: At close of trading, the KSE-100 index was at 10894.15, up 14.33 points.

August 22, 2011
5 TOP SCRIPTS GAINERS  AND LOOSERS
Attock Petroleum
Rs 9.36
Colgate Pakistan
Rs (28.17)
Service Industries
Rs 8.15
Millat Tractors
Rs (21.97)
Pak Oilfields
Rs 5.20
Nestle Pakistan
Rs (10.83)
National Refinery
Rs 5.10
Sanfo Aventis
Rs (5.50)
Clover Pakistan
Rs 3.20
Packages
Rs (3.51)


KSE 30 – Shares Index
Previous 10,351.41, Monday’s 10,391.08, plus 39.67 points
KSE 100 – Shares Index
Previous 10,879.82,Monday’s 10,894.15, plus 14.33 points
MARKET CAPITALIZATION
Previous Rs.2,899.475bn, Monday’s 2,901.807bn, plus 2.332bn
VOLUME LEADERS
National Bank 5.148m, Nimir Chemicals 2.502m, Engro Corporation 2.192m, Arif Habib Corpn 1.973m, Azgard Nine 1.951m.
TOTAL VOLUME
35.727m shares
TOTAL
TONE:mixed, total listed 638, actives 274, inactives 364, plus 96, minus 99, unchanged 79



SECP moves court against brokerage houses
ISLAMABAD, Aug 22: The Securities and Exchange Commission of Pakistan (SECP) has filed criminal complaints in a court against brokerage houses for committing fraudulent acts.

According to details, the SECP has filed complaints against M.K.A. Securities (Private) Limited and Prudential Securities Limited, former members of the Karachi Stock Exchange for not transferring shares/funds and for their unauthorized pledges of clients’ shares and other prohibited activities under the Section 24 (2) of Central Depositories Act, 1997 as well as offences under relevant provisions of the Pakistan Penal Code.
“The arrests warrants have been issued for all the 12 accused”, said a statement issued here on Monday.
The SECP had received many complaints against them. They failed to comply with the SECP directions to resolve complaints and to transfer shares into respective Central Depository Company accounts.
Consequently, on June 26, 2009, the SECP suspended their registration along with three other brokerage houses.
The SECP appointed committees comprising officers from the SECP, KSE and CDC to enquire into the matters relating to unresolved complaints against the five brokers.
The records revealed that they, without clients’ consent, transferred shares and pledged them with the bank to obtain financing.
The finances so obtained were mostly used to liquidate liabilities of brokerage houses or its directors, their relatives and friends.
They and their bigwigs also misused the powers given to them under CDC sub-account opening form in moving or pledging the shares of their clients from their respective sub-accounts, resulting in a total loss to the clients.
The Prudential Securities Limited, in addition to above, also transferred clients’ shares to its associated/group companies.
Earlier, SECP had also filed similar criminal complaints against Capital One Equities Limited, Cliktrade Limited and Eastern Capital Limited.
The copies of five enquiry reports and respective criminal complaints are available on the SECP website.—APP
Stocks manage modest gains
KARACHI, Aug 22: The share market on Monday resisted fresh decline as some of the leading shares, notably in the oil sector came in for active short-covering at the lower levels and ended higher amid light activity.

The KSE 100-share index after early having hit the session’s high at 10,970.91 points failed to sustain the peak on late-selling but ended with a modest rise of 14.33 points at 10,894.15.
Analysts said demand of calling of the Army from both the top business and some political parties to restore normalcy in the city was also viewed by investors a positive development as the market mostly perform well in the protected environment.
“But we don’t hear the sound of the boot even at the farthest end of political spectrum,” they said and added “the idea, however, reinforced investor confidence and many rode the bandwagon”.
No one could deny the fact that the market is in a terrible mess, said analyst Samar Iqbal, adding even semblance of good news could boost investor morale and pull it out from the current impasse.
“The perception of return of peace to the city after some serious official efforts to check violence generated a good bit of covering purchases on selected counters,” analyst Ahsan Mehanti said.
The credible performance turned in by Engro Corporation after several weeks of battering on various counts was one of the chief positive developments in the market parlance, he said.
But much will depend on the return of the foreign investors, some of which had liquidated long positions in the oil sector during the last couple of weeks.
Top gainers were led by Attock Petroleum and Service Industries, up by Rs9.39 and Rs8.15, while prominent losers included Colgate Pakistan and Millat Tractors, off Rs28.17 and Rs21.97.
The notable feature was that both the top gainers and losers belong to the group of most liquid shares and was for the first time that the list of actives was topped by them rather than Unilever Pakistan, Nestle Pakistan and Rafhan Maize and some other illiquid high-profile shares.
Trading volume fell to 35.727m shares from the previous 41m shares as losers held a slight edge over gainers at 99 to 96, with 79 shares holding on to the last levels.
The active list was led by National Bank, lower 92 paisa at Rs40.48 on 5m shares followed by Nimir Chemicals, steady by 10 paisa at Rs2.90 on 3m shares, Engro Corporation, higher by Rs2.44 at Rs114.30 on 2m shares, Arif Habib Corporation, firm by 25 paisa at Rs23.54, Azgard Nine, up 30 paisa at Rs4.73 on 2m shares, Lotte Pakistan, unchanged at Rs10.72 on 1.315m shares and Fatima Fertiliser, up 52 paisa at Rs16.47 on 1.311m shares.
They were followed by J.S. & Co, steady by 18 paisa at Rs5.59 on 1.290m shares, D.G. Khan Cement, steady by 17 paisa at Rs20.25 on 1.211m shares and PTCL, up 41 paisa at Rs11.24 on 1.206m shares.
FUTURE CONTRACTS: National Bank remained under pressure and was marked down by 92 paisa at Rs40.54 on a large volume of 1.430m shares followed by Engro Corporation, higher by Rs1.33 at Rs114.42 also on heavy turnover of 1.014m shares, while its September delivery rose by Rs3.78 at Rs113.97 on 0.453m shares.
September delivery of National Bank was off 44 paisa at Rs41.02 on 0.621m shares, while Pakistan Oilfields rose by Rs4.99 at Rs342.17 on 0.591m shares.
DEFAULTER COMPANIES: The trading activity on this counter was also slow and was confined to a dozen shares under the lead of Ravi Textiles, up six paisa at Rs0.87 on 41,865 shares.
Dadabhoy Cement followed them, steady by five paisa at Rs2.05 on 7.504m shares and Japan Power unchanged at Re1 on 7,100 shares.

Mohammed Saleem Mansoori

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