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Sunday, 9 October 2011

DAILY STOCK MARKET UPDATE:10.10.2011

Stock

Karachi Stocks Up 273.83 Points:
KARACHI, Oct 10: The KSE-100 index was at 12127.67, up 273.83 points.


October 7, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:
Attock Petroleum
Rs 6.50
UniLever Pak Ltd
Rs (97.57)
Clariant Pak
Rs 4.63
Nestle Pakistan
Rs (46.98)
JavedanCorp Ltd
Rs 3.00
Liberty Mills Ltd
Rs (2.70)
Fazal Cloth
Rs 2.77
Millat Tractors
Rs (2.66)
Sitara Chemical
Rs 2.64
ICI Pakistan
Rs (2.09)

KSE 30 – Shares Index
Previous 11,347.07, Friday’s 11,366.73, plus 19.66.
KSE 100 – Shares Index
Previous 11,839.00, Friday’s 11,853.84, plus 14.84 points.
MARKET CAPITALIZATION
Previous Rs3.124.125bn, Friday’s Rs3,126.002bn, plus 1.877bn.
VOLUME LEADERS
PTCL 18.226m, D.G.Khan Cement 6.053m, Bank AlFalah 4.778m,National Bank 3.505m, Arif Habib Corporation 3.127m shares.
TOTAL VOLUME
70.482m shares
TOTAL
TONE:steady,total listed 638,actives 367,inactives 271,plus 140,minus 118,unchanged 109.

Stocks recover 15 points at 11,854
KARACHI, Oct 7: The shares market on Friday recovered from the last two sessions’ persistent decline aided by active covering purchases on the blue chip counters ahead of the announcement of the monetary policy by the central bank tomorrow.
The KSE 100-share index showed a modest recovery of 14.84 points at 11,853.84 as compared to previous 11,839.00 points, reflecting the strength of leading base shares.
“Widely speculated downward revision of the key discount rate kept investors at toes all the time,” said a leading analyst Ahsan Mehanti.”
What could well mean a possible cut of half per cent or one per cent is interrupted by investors in line with their own perceptions.”
The scrips, which will be the chief beneficiary of cut irrespective of its size remained the market leaders, fully recovering from the previous losses, he said.
Another leading analyst Samar Iqbal also was of the view that the announcement of the monetary policy tomorrow dominated the trading throughout the weekend session.
Fertiliser sector and some other blue chips led the market recovery on strong covering purchases at the overnight lower levels again pushed the benchmark in the plus column, he added.
The relative stability on the political front and easing of energy crisis after the government took some positive steps were also some of the positive factors, adding to the investor confidence, analyst Ashraf Zakria said.
Fertiliser and cement shares were again in the limelight and attracted bulk of support partly on reports of higher interim earnings and partly to their lower levels, he added.
Prominent gainers were led by Attock Petroleum and Clariant Pakistan, up by Rs6.50 and 4.63, while top losers include Unilever Pakistan and Nestle Pakistan, off Rs97.57 and 46.98, respectively.
Traded volume rose to 70.482m shares from the previous 63m shares as gainers forced a comfortable lead over losers at 140 to 118, with 109 shares holding on to the last levels.
The active list was topped by PTCL, up 38 paisa at Rs11.70 on 18m shares followed by DG Khan Cement, steady by Rs1.05 at 22.58 on 6m shares, Bank Al Falah, firm by 21 paisa at 11.51 on 5m shares, National Bank, easy 46 paisa at 48.45 on 4m
shares, Arif Habib Corporation, up 67 paisa at 30.69 on 3m shares, JS & Co, steady by 10 paisa at 5.68 also on 3m shares, and Fatima Fertiliser, firm by 12 paisa at 19.63 on 3m shares.
They were followed by Engro Corporation, higher by Rs1.74 at 140.65 on 2m shares, Fauji Cement, easy 15 paisa at 4.10 on 2m shares and Fauji Fertiliser Bin Qasim, steady by four paisa at 60.36 also on 2m shares.
FUTURES COUNTER: Hub-Power led the list of actives and fell by 44 paisa on selling at Rs38.61 on a large volume of 5.027m shares followed by DG Khan Cement, up Rs104 at 22.76 on 0.982m shares and National Bank, lower by 36 paisa at 48.79 on 0.819m shares. They were followed by Engro Corporation, higher by Rs1.64 at 41.78 on 0.461m shares and Fauji Fertiliser Bin Qasim, steady by 12 paisa at 60.89 on 0.384m shares.
DEFAULTER COs: The activity on this counter was slow in the absence of demand and as a result prices ended at the previous levels.
Japan Power came in for stray support and was marked up by four paisa at Rs0.95 on 28, 003 shares followed by Ravi Textiles, lower by 16 paisa at 0.72 on 7, 857 shares.


Market eyes 50-200bps cut in policy rate
KARACHI, Oct 7: Investors in equities spent more time during the trading week ended Friday, betting over the extent of discount rate cut by the State Bank of Pakistan and less on concentration in stock trading.
While the market seems to hold consensus view of the easing of monetary policy, the estimates of rate cut fall as far apart as 50 basis points (bps) to 200 bps.
”It is the uncertainty that kept investors away from brisk trading during the week”, said an analyst. No one wanted to risk losing money, just in case the SBP policy went wide off the mark of forecasts.
He said that the direction of the market would be set on Monday, after the SBP unveils the monetary policy on Saturday for October-November.
KSE closed the last session on Friday at index level of 11,839 points, adding only 0.8 per cent to the earlier week’s closure.
“Average daily volumes dropped by 9.3 per cent week-on-week to 75 million shares, while foreigners remained net sellers of $2.7 million”, said analyst Naveed Tehsin at JS Global.
In the T-bills auction held during the week, the three-month cut-off yield came in at 76bps below the discount rate. Moreover, CPI for September dropped to 10.46 per cent from 11.56 per cent in August.
Other highlights of the week were street battle with police over the power crisis and the increase in prices by the fertiliser and cement producers. However the local cotton prices declined by 3 per cent in the week, which the analysts attributed to higher
cotton arrivals during the month of September and falling international prices.

 

Mohammed Saleem Mansoori


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