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Wednesday, 3 August 2011

DAILY STOCK MARKET REPORT: 4th AUGUST,2011


Stock
Karachi Stocks Down 308.25 Points:
KARACHI, Aug 03: At close of trading, the KSE-100 index was at 11918.08, down 308.25 points.
August 3, 2011
5 TOP SCRIPTS GAINERS AND LOOSERS
Bata (Pak) Ltd Rs 10.00 Siemens Pakistan Rs (51.07)
EFU Life Assur Rs 3.24 Uni Lever Pak Rs(32.76)
Faisal Spinning Rs 2.50 Colgate Pakistan Rs(24.27)
Nadeem Textiles Rs 2.32 PSO Rs (9,40)
Haseeb Waqas Sugar Rs 2.32 Exide Pakistan Rs (8.74)

KSE 30 – Shares Index Previous 11,589.64,Wednesday’s 11,289.44,minus 300.20 points
KSE 100 – Shares Index Previous 12,226.33, Wednesday’s 11,941.72, minus 284.61 points.
MARKET CAPITALIZATION Previous Rs.3,230.340bn, Wednesday’s 3,156.829bn, minus 72.511bn
VOLUME LEADERS J.S.& Co 3m, Lotte Pakistan 2.778m, National Bank 2.389m,Fauji Fertiliser Bin Qasim 2.316m,TRG Pakistan 2.260m shares.
TOTAL VOLUME 46.108m shares
TOTAL TONE:easy, total listed 638, actives 312, inactives 326, plus 32, minus 207, unchanged 73

Stocks plunge 285 points on panic-selling
KARACHI, Aug 3: The Karachi Stock Exchange 100-share index on Wednesday plunged 2.33 per cent or 285 points at 11,941.72 on panic selling triggered by fears of further deterioration in the city’s law and order situation after a strong statement by the leader of MQM on the prevailing tension.
The warning, analysts said, was viewed in the context of on-going wave of bloody violence in the commercial and financial hub of Pakistan.
The market already under serious strains on various counts caved in as investors hastened to liquidate in part their long positions even on the blue chip counters, leading to a widespread fall across the board, which eroded Rs72.511 billion from the market capital at Rs3,157 billion.
“In the developing situation on the city’s law and order front, investors will think twice before putting money into the shares business even at the current attractively lower levels and prefers to await the return to normalcy,” said a leading analyst.
The near-term outlook appears to be quite bearish and the market may face liquidity crunch in the sessions to come in the absence of both local leading and foreign investors, he added.
Floor brokers said unlike the previous sessions when the bulk of activity was confined to undervalued shares, amid fractional price changes, the massive fall was led by the blue chip counters under the lead of fertiliser and oil sectors.
Blue chips, such as Fauji Fertiliser, Engro Corporation, Pakistan Oilfields, National Bank, Attock Refinery, Attock Petroleum, PSO, Pakistan Petroleum and National Refinery ended with massive losses, they said and added “index heavy-weight was also down by Rs5.99 at 148.85 and caused a major decline (119 points) in the benchmark owing to its massive weightage in it.”
Minus signs again dominated the list under the lead of Siemens Pakistan and Unilever Pakistan, off Rs51.07 and 32.76, while Bata Pakistan and EFU Life managed to put on modest gains, ranging from Rs3.24 to 10.00.
Owing to panic selling, the volume figure rose to 46.106m shares from the previous 15m shares as losers maintained a strong lead over the gainers at 207 to 32, with 73 shares holding on to their previous levels.
The active list was topped by JS & Co, easy by two paisa at Rs6.71 on 3m shares followed by Lotte Pakistan, lower by 35 paisa at 11.76 also on 3m shares, National Bank, off Rs2.56 at 50.89 on 2m shares, Fauji Fertiliser Bin Qasim, lower 71 paisa at 46.10 also on 2m shares, TRG Pakistan, easy by one paisa at 2.24 on 2m shares, PTCL, lower by 39 paisa at 11.91 also on 2m shares and Hub-Power, off 59 paisa at 39.04 on 2m shares.
Byco Petroleum followed them, lower by 32 paisa at 8.35 on 2m shares, Fauji Fertiliser, sharply down by Rs3.28 at 159.57 on 1.640m shares and Engro Corporation, off Rs3.76 at 138.02 on 1.612m shares.
FUTURE COs: National Bank led the list of actives, off Rs2.61 at 51.33 on 0.445m shares followed by Engro Corporation, lower by Rs3.92 at 139.15 on 0.371m shares and Pakistan Oilfields, sharply lower by Rs8.71 at 355.25 on 0.312m shares.
They were followed by D G Khan Cement, lower 65 paisa at 22.08 on 0.289m shares and Attock Refinery, off Rs5.75 at 120.79 on 0.205m shares.
DEFAULTER COs: Ravi Textiles came in for modest support and was quoted higher by one paisa at Rs0.90 on 59,816 shares followed by Shahpur Textiles, unchanged at 0.35 on 30,000 shares, Dadabhoy Cement, lower by nine paisa at 2.11 on 27,004 shares and Quice Foods, higher by 99 paisa at 6.01 on 17,504 shares.

Mohammed Saleem Mansoori

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