DAILY STOCK MARKET UPDATE: 18TH OCTOBER,2011

Stock

Karachi Stocks Down 1.80 Points:
KARACHI, Oct 18: The KSE-100 index was at 11973.75, down 1.80 points.

October 17, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Rafhan Maize	Rs 110.19	Pakistan Petroleum	Rs (8.66)
UniLever Pak Ltd	Rs 77.59	Engro Corporation	Rs (6.47)
Nestle Pakistan	Rs 44.13	PSO	Rs (3.84)
Bata (Pak) Ltd	Rs 38.13	National Foods	Rs (2.85)
National Refinery	Rs 10.61	Indus Motors	Rs (2.00)

KSE 30 – Shares Index	Previous 11,503.37,Monday’s 11,464.69,minus 38.68
KSE 100 – Shares Index	Previous 11,988.09, Monday’s 11,975.55, minus 12.54 points
MARKET CAPITALIZATION	Previous Rs 3,146.287bn,Monday’s Rs 3,139.480bn,minus 6.807bn
VOLUME LEADERS	Fatima Fertiliser 7.586m, D.G. Khan Cement 5.710m, Fauji Fertiliser Bin Qasim 5.689m, Lotte Pakistan 4.891m, Fauj Fertiliser 4.757m shares.
TOTAL VOLUME	79.474m shares.
TOTAL	TONE:mixed. total listed 638, actives350, inactives 93, plus130, minus 127, unchanged 93

Stocks suffer modest fall in mixed trading

KARACHI, Oct 17: Trading on the share market resumed on a steady note on Monday but lack of follow-up support as higher reports of earnings by the leading Attock Group companies failed to enthuse investors amid mixed trend.
“Investors, notably foreign are keenly watching the current turmoil against the Capitalism in the western world, including the US and played safe even on the blue chip counters”, said a leading analyst Ahsan Mehanti and added that their reaction to the developing scenario will be known during the next couple of sessions.
The benchmark early managed to cross the barrier of 12,000 points at 12,039.89 but late selling in some of pivotals, including Engro Corporation again pushed it below and it ended with a modest fall of 12.54 points at 11,975.55 as compared to previous week’s 11,988.09.
Selective support on a number of counters, however, figured prominently under the lead of Fauji Fertiliser, Attock Refinery and National Refinery on reports of higher interim earnings and averted a major shakeout, floor brokers said.
The weakness of leading shares such as Engro Corporation on reports of problems of normal gas supplies and the consequent production losses had a negative impact on the broader market as was reflected by mostly fractional price changes.
“But the chief negative factor behind the perceptible slowdown in activity appears to be reports of signing of Hubco sale deal possibly by the next week,” said a leading analyst Samar Iqbal.” The fear that it would suck out about $60m from the market
liquidity kept leading investors on the sidelines.
But on the other hand, renewed buying in the leading fertilizer shares notably Fauji Fertiliser and Fatima Fertiliser averted larger market fall.The other worry was reports of closure of some private sector power units owing to liquidity problems, and interruption in gas supplies to some of them, which took their toll in the form of profit-selling at the inflated levels.
But another analyst Ashraf Zakaria said the market appears to be in a consolidation phase apparently trying to stay above the barrier of 12,000 points but heating up of political scenario keeps investor in two minds leading to alternate bouts of buying
and selling.
Leading gainers were led by Rafhan Maize, and Unilever Pakistan, up by Rs110.19 and Rs77.59, while among the top losers Pakistan Petroleum and Engro Corporation were leading, down by Rs8.66 and 6.47, respectively.
Trading volume shrank further to 79.474m shares from the previous 92m shares but gainers held a slight edge over the losers at 130 to 127, with 93 shares holding on to the last levels.
The active list was topped by Fatima Fertiliser, steady by 13 paisa at Rs23.89 on 8m shares followed by D.G. Khan Cement, firm by 17 paisa at 22.67 on 6m shares, Fauji Fertiliser Bin Qasim, easy by 13 paisa at Rs63.47 also on 6m shares, Lotte Pakistan, lower by three paisa at 12.35 on 5m shares, Fauji Fertiliser, sharply higher by Rs6.40 at Rs193.84 also on 5m shares, Arif Habib Corporation, up Rs1.56 at Rs32.77 on 4m shares and PTCL, lower by 41 paisa at 11.83 on 4m shares.
Engro Corporation followed them sharply lower by Rs5.47 at Rs134.08 on 3m shares, Attock Refinery, higher by Rs5.68 also on 3m shares and Nishat Mills, firm by 87 paisa at Rs54.15 on 3m shares.
FUTURE CONTRACTS: The active list was topped by Fauji Fertiliser Bin Qasim, easy by nine paisa at Rs63.82 on 1.820m shares, followed by Fauji Fertiliser, sharply higher by Rs6.24 on 1.081m shares and Attock Refinery, up Rs5.79 on 0.778m shares.
They were followed by Engro Corporation, off Rs6.62 on 0.707m shares and D.G. Khan Cement, steady by 16 paisa at 22.81 on 0.696m shares.
DEFAULTER COS: The trading activity on this counter was relatively slow in the absence of strong support on any of the counters. Japan Power led the list of actives, easy by two paisa at 0.76 on 19,373 shares.
Other actives were led by Invest Bank, lower by eight paisa at 0.30 on Rs51.336 shares followed by Mubarak Textiles, easy by two paisa at 1.78 on 7,300 shares.

Mohammed Saleem Mansoori