DAILY STOCK MARKET UPDATE: 29.09.2011

Stock

Karachi Stocks Up 94.45 Points:
KARACHI, Sept 28: At close of trading, the KSE-100 index was at 11625.69, up 94.45 points.

September 28, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

UniLever Pak Ltd	Rs 80.00	Fazal Textile	Rs (14.70)
Nestle Pakistan	Rs 79.44	Sapphire Fiber	Rs (3.50)
Siemens Pak	Rs 36.50	Clover Pakistan	Rs (2.88)
Wyeth Pak Limited	Rs 30.85	United Brands	Rs (1.77)
Colgate Palmoli	Rs 27.30	Mari Gas	Rs (1.44)

KSE 30 – Shares Index	Previous 11,036.47, Wednesday’s 11,139.45, plus 102.98 points
KSE 100 – Shares Index	Previous 11,531.24,Wednesday’s 11,625.69, plus 94.45 points
MARKET CAPITALIZATION	Previous Rs.3,040.577bn,Wednesday’s 3,068.534bn,plus 27.957bn
VOLUME LEADERS	Fatima Fertiliser 11.533m, Bank AlFalah 8.124m, Fauji Fertiliser Bin Qasim 6.246m, Arif Habib Corpn 6.012m, Fauji Fertiliser 5.700m shares.
TOTAL VOLUME	87.381m shares
TOTAL	TONE: steady, total listed 638, actives 360, inactives 578, plus 154, minus 108, unchanged 98

Stocks recover 94 points on follow-up support

KARACHI, Sept 28: The stock market on Wednesday extended the overnight recovery on active follow-up support in oil and fertilizer shares but the underlying sentiment remained a bit nervous amid concerns over the future Pak-US political relations.
The KSE 100-share index posted a fresh rise of 94.45 points at 11,625,69 as leading base shares came in for renewed buying and were marked up under the lead of National Refinery, Pakistan Oilfields, Fauji Fertilizer, Engro Corporation and National Bank.
However, selective support mostly in patches emerged strong on technical grounds but remained confined to a few leading base shares, which contributed a fresh modest increase in the benchmark.
But some leading analysts were still in two minds about the future market outlook in the backdrop of talk of cut in US aid and conflicting reports about the US action against the Haqqani network.
“If the market could hold on to the fort in the developing situation, notably future relations with the US, it will be credited with its credible performance in most trying conditions”, they added.
Another leading section of investors, who thinks that the US could afford to lose an ally like Pakistan, remained active buyers at the dips on those counters, which ensure quick gains, said a broker.
But he said light daily volumes reflects that no one is inclined to go beyond specified limits and safe havens and played safe fully aware of the snap reaction.
Prominent gainers were led by Unilever Pakistan and Nestle Pakistan, up by Rs80 and 79.44, while losers, included Fazal Textiles and Sapphire Fibres, off Rs14.70 and 3.50.
Trading volume showed a modest increase at 87.381m shares from the previous 72m shares as gainers held a lead over the losers at 154 to 108, with 98 shares holding on to the last levels.
The active list was topped by Fatima Fertilizer, up 86 paisa at Rs18.65 on 12m shares followed by Bank AlFalah, firm by 40 paisa at 11.02 on 8m shares, Fauji Fertilizer Bin Qasim, up 76 paisa at Rs57.72 on 6m shares, Arif Habib Corporation, higher by 85 paisa at Rs27.80 also on 6m shares, Fauji Fertilizer, sharply higher by Rs3.70 at 161.92 on 6m shares, Lotte Pakistan, steady by 11 paisa at 11.96 on 6m shares, and Engro Corporation, sharply higher by Rs4.49 at 139.68 on 4m shares.
They were followed by J.S. & Co, steady by 16 paisa at 5.87 on 4m shares, National Bank, firm by 18 paisa at 45.37 on 3m shares and Azgard Nine, up 19 paisa at 5.01 on 2m shares.
FUTURE CONTRACTS: Fauji Fertiliser Bin Qasim led the list of actives, up 87 paisa at Rs58.37 on 1.210m shares followed by its September delivery, higher by 79 paisa at Rs57.81 on 0.963m shares.
Both Settlements of Engro Corporation rose by Rs4.67 and 4.57 for both the October and September at Rs141.20 and 139.87 on 0.831m and 0.689m shares, while Azgard Nine was quoted higher by 18 paisa at 5.01 on 0.622m shares.
DEFAULTER COS: The activity on this counter was a bit slow but prices showed fractional gains amid light volumes. Invest Bank was leading among them, unchanged at 0.25 on 40,469 shares.
Other actives were led by Dadabhoy Cement, up 31 paisa at 1.90 on 10,227 shares and Ravi Textiles, easy by one paisa at 0.85 on 8,185 shares.

 

Mohammed Saleem Mansoori