DAILY STOCK MARKET REPORT: 9th AUGUST,2011

Stock
Karachi Stocks Down 309.23 Points:
KARACHI, Aug 09: The KSE-100 index was at 11094.94, down 309.23 points.
August 8, 2011
5 TOP SCRIPTS GAINERS AND LOOSERS
Uni Lever Pak Rs 282.96 Siemens Pak Rs (25.21)
Nestle Pakistan Rs 29.38 Indus Dyeing Rs (17.02)
Colgate Palmolive Rs 12.03 Sapphire Fiber Rs (5.90)
Bhanero Tex Rs 11.74 Al-Ghazi Tractor Rs (5.71)
Tri-Pack Films Rs 7.86 Hino Pak Motor Rs (5.56)

KSE 30 – Shares Index Previous 10,769.40, Monday’s 10,815.22,plus 45.82
KSE 100 – Shares Index Previous 11,375.09, Monday’s 11,404.17, plus 29.08 points
MARKET CAPITALIZATION Previous Rs.3,007.485bn,Monday’s 3,015.528bn,plus 8.043bn
VOLUME LEADERS PTCL 7.309m, Lotte Pakistan 7.146m, National Bank 6.978m, Azgard Nine 6.315m, Nishat Mills 5.639m shares.
TOTAL VOLUME 106.740m shares
TOTAL TONE:steady, total listed 637, actives 324, inactives 313, plus133, minus 128, unchanged 63

Stocks resist fresh fall
KARACHI, Aug 8: The share market on Monday recovered from the massive weekend battering on active short-covering triggered by some positive developments on the political front after amicable settlement of some of the issues between the major contenders of power.
“The market escaped another global turmoil linked to US rating downgrade amid reports of further lowering of the rating as investors followed the positive local news and ignored the negative ones”, said a leading analyst Ahsan Mehanti.
He said most of the blue chips in the oil and fertiliser sectors were in the firing range ensuring higher capital gains and leading investors and institutional traders led the recovery move and put the market back on the rails but failed to build up a strong base on the last Friday`s debris.
Analyst Samar Iqbal said early across-the-board buying at cheap prices allowed the market to recover 300 points out of the Friday fall under the lead of banking and Attock Group of Companies` shares in anticipation of higher payouts.
But the perception of peace in the city still appears to be an elusive goal in the backdrop of a loud voice of dissent by some of the minor political parties on the mode to run the system, fears another analyst Salman Naqvi.
However, there was no trace of the weekend sell-off sparked by global turmoil on the financial and commodity markets and investors welcomed the swift change in the market psychology.
The recovery also reflected the market`s inherent strength and investor scramble for the blue chips, reached lower levels owing to last Friday`s massive decline.
The benchmark index recovered a modest part of the Friday`s massive loss and was quoted higher by 29.08 points at 11,404.17 as leading base shares in the oil sector barring the index heavy weight OGDC, came in for active short-covering.
Prominent gainers were led by Unilever Pakistan and Nestle Pakistan, up by Rs282.96 and 29.38 respectively, while losers included Siemens Pakistan, and Indus Dyeing, off by Rs25.21 and 17.02 respectively.
Traded volume was again maintained on the higher side, a healthy sign about the market recovery and amounted to 106.740m shares as compared to last weekend`s 113m shares as gainers topped losers by 133 to 128, with 63 shares holding on to the last levels.
The active list was topped by PTCL, unchanged at Rs10.57 on 7m shares followed by Lotte Pakistan, steady by four paisa at 10.73 also on 7m shares, National Bank, lower 45 paisa at Rs46.31 on 7m shares, Azgard Nine, unchanged at Rs4.58 on 6m shares, Nishat Mills, off 98 paisa at 40.10 also on 6m shares, J.S. & Co, up 23 paisa at 5.74 on 5m shares, and Fauji Fertiliser Bin Qasim, up 94 paisa at Rs46.08 on 4m shares.
They were followed by Arif Habib Corporation, lower by three paisa at Rs23.98 on 3m shares, Nishat Chunian, up Rs1.4 at Rs15.72 on 3m shares and Engro Corporation, higher by 79 paisa at Rs130.09 also on 3m shares.
FUTUTRE CONTRACTS: Pakistan Oilfields came in for active short-covering and led the list of actives, higher by Rs9.17 at Rs348.05 on 0.928m shares, followed by Engro Corporation, up 22 paisa at Rs130.58 on 0.837 shares and National Bank, lower 47 paisa at 0.791m shares.
They were followed by Nishat Mills, off Rs1.15 at Rs40.32 on 0.698m shares and Fauji Fertiliser Bin Qasim, up 86 paisa at Rs46.26 on 0.688m shares.

Mohammed Saleem Mansoori