DAILY STOCK MARKET UPDATE: 10.11.2011

Stock

Karachi Stocks Up 135.46 Points:
KARACHI, Nov 04: At close of trading, the KSE-100 index was at 11942.92, up 135.46 points.

November 04, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Bata Pakistan	Rs 37.31	Nestle Pakistan	Rs (47.85)
Siemens Pakistan	Rs 24.75	Attock Petroleum	Rs (8.82)
Wyeth Pakistan	Rs 23.33	Unilever Pakistan	Rs (7.74)
P.S.O.	Rs 11.78	Service Industry	Rs (2.93)
National Refinery	Rs 9.31	Rafhan Maize	Rs (2.81)

KSE 30 – Shares Index	Previous 11,138.69, Friday’s 11,292.57, plus 153.88 points.
KSE 100 – Shares Index	Previous 11,807.46, Friday’s 11,957.30, plus 149.84 points.
MARKET CAPITALIZATION	Previous Rs.3,080.065bn, Friday’s 3.116.611bn, plus 36.546bn.
VOLUME LEADERS	Engro Corporation 4.657m, J.S.& Co 4.307m, Fatima Feretiliser 4.166m, Bank AlFalah 3.677m, D.G.Khan Cement 3.028m shares.
TOTAL VOLUME	55.885m shares
TOTAL	TONE:firm,total listed 638,actives334,inactives 304,plus 151,minus 82,unchanged 101

KSE:Strong rally adds 396 points.

KARACHI, Nov 5: Strong rally at the Karachi Stock market saw the KSE-100 index gain 396 points or 3.4 per cent during the week ended Friday, erasing almost all the loss of 463 points of the earlier week.
On the last trading day the index closed at 11,957 points at just a stone’s throw of the coveted 12,000 level.
The investor participation, however, remained muted with the average traded value during the week almost in line with previous week’s averages at $54 million. Average traded volumes stood at 73 million shares. The gain in index brought little cheer to the broker community as the volumes happen to be lower than the 12-month average of 94.81 million shares.
A significant feature during the week was the net foreign inflow of $0.19 million. Even the minor net purchase by foreign investors brought relief to some of the nervous locals, who had been witnessing sell-offs by overseas investors for several weeks in a row.
The heavy foreign outflow of $60 million following disposal of its entire stake by Hubco’s co-sponsor Xenel a week ago, had added to investor anxiety.
Analysts tracking foreign portfolio reported that the net overseas investment for first quarter FY12 clocked in at $236 million, down 49 per cent year-on-year.
Several analysts said that the continuing global financial crisis overshadowed the impressive corporate results.
The outgoing week began on a dramatic note as Engro raised urea prices by Rs400 or 25 per cent per bag. The raise was withdrawn a day later, but the incident brought stakeholders on the negotiating table over the supply of gas, the essential raw material. Another noticeable trend during the week was the massive buying in the oil and gas stocks, which sparked speculation of an impending settlement of the troublesome circular debt. The successful conversion of power sector debt into PIBs, announced on Saturday proved speculators right.
Conspiracy theorists among investors could be seen wondering if some people knew what others did not?
Financial figures released during the week included strong earnings by PSO and Engro. PSO announced higher than expected first quarter FY12 earnings of Rs14.50 per share (up 207 per cent YoY), while Engro posted three-quarters 2011 earnings of
Rs14.21 per share (up 27 per cent YoY). The two stocks gained 12 per cent and 22 per cent over the earlier week.
Most market participants expect equities to continue into the positive zone in the lead of energy and fertiliser stocks, when
the market re-opens on Thursday, after Eid holidays.

Mohammed Saleem Mansoori