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Sunday, 20 November 2011

DAILY STOCK MARKET UPDATE: 21.11.2011


Stock

Karachi Stocks Up 57.11 Points:
KARACHI, Nov 18: At close of trading, the KSE-100 index was at 11970.53, up 57.11 points.

November 18, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:
Bhanero Tex XD
Rs 9.95
Unilever Pak
Rs (47.64)
Indus Motors
Rs 5.59
Wyeth Pakistan
Rs (20.00)
Sapphire Tex
Rs 5.15
Nestle Pakistan
Rs (16.28)
Thal Limited
Rs 3.22
Service Industries
Rs (3.88)





KSE 30 – Shares Index
Previous 11,279.32, current 11,2222.58, minus 56.74 points
KSE 100 – Shares Index
Previous 11,913.42, Current 11,937.81 minus 24.39 points
MARKET CAPITALIZATION
Previous Rs3,103.230bn, Current Rs3,104.858bn, plus 1.628bn
VOLUME LEADERS
Bank Al Falah 11.184m, Fatima Fert.Co 7.301m, Lotte Pak PTA 1.617m, Byco Petroleum 1.601m, Fauji Fertiliser XD 1.413m, DG K Cement 1.316m, Arif Habib Co 1.173m, Engro Corp 1.054m, Fauji Fert Bin Qasim 0.765m Azgard Nine 0.649m shares.
TOTAL VOLUME
38.838m shares
TOTAL
TONE: firm, total listed 638, actives 304, inactives 334, plus 99, minus 109, unchanged 96


Stocks show mild recovery after four days of fall
KARACHI, Nov 18: The four-day bear spell was brought to a halt on Friday as equities showed mild recovery of 24.39 points or 0.20 per cent on renewed interest in the oil and gas and banking sectors.
The first session finished on a lacklustre note as the decline in Asian markets, the drop in oil prices and the exacerbating European debt crisis sat heavily on investors’ mind.
In the second session, the positive news of gas supply to the fertiliser plants and the expectations of higher profits for banks on recent changes in FSV (Forced Sale Value) ruling allowed by central bank impressed investor psyche. Interestingly, foreign investors bought $0.67 million worth equity on Friday.
This was exactly the same value of stocks they sold, keeping the net change for the day at zero.
Samar Iqbal, equity dealer at Topline Securities stated that the decline in commodity prices together with the fall in global equity markets kept local investors sidelined. Volumes fell to two month low to Rs1.37 billion while 30 per cent of the volume was seen only in one scrip: Bank Al Falah.
Analyst Nazim Abdul Muttalib at Elixir Securities said that the KSE-100 index managed to close positive after late buying in oil stocks helped market to add gains.
Second session witnessed buying interest in OGDC, which rose 1.7 per cent, the stock acting as a catalyst on investors believe that E&P policy 2011 would change sector dynamics and allow healthy gains in the coming year. PSO edged up on rumours of getting cash injection by the government, which could help the oil marketing company meet its payment obligations.
Many equity traders frowned on low volumes and said that the directionless trend of the market would continue until major triggers pushed equities higher.
The biggest gainer for the day was Bhanero Textile which rose by Rs9.95 to Rs238.53, followed by Indus Motors adding Rs5.59 to close at Rs209.59 on high sales and demand figures for the automobile industry.
The principal loser for the day was again UniLever Pakistan, down by Rs47.64, adding to the loss of Rs6.40 on Thursday and closing at Rs5479.96. Wyeth Pakistan decreased by Rs20 to Rs680.
Trading volume edged up to 38.8 million shares, from 28.7 million shares the previous day.
The traded value however slipped to a two-month low at Rs1.4 billion, from Rs1.9 billion, the previous day.
Market capitalisation remained almost unchanged at Rs3.1 trillion.
In total 304 active scrips, 109 closed in the negative and 99 in positive zone. Another 96 shares remained unchanged.
On the active list, Bank Al Falah saw trading in 11.2 million shares, which amounted to 30 per cent of the aggregate market volume.
The stock gained 28 paisa to close at Rs12.07. Fatima Fertilizer, with trading in 7.3 million shares, was down 11 paisa to Rs23.05. Lotte Pak PTA saw 1.6 million shares change hands, up by 24 paisa to Rs10.78. Byco Petroleum also posted volume of 1.6 million shares, higher by 27 paisa to Rs7.20. Fauji Fertiliser, trading suffered a big fall of Rs3.53 to Rs172.75 on 1.4 million shares; DG Khan Cement was up 5 paisa to Rs21.05 on 1.3 million shares; Arif Habib Corporation added 12 paisa to close at Rs29.85 on 1.2 million shares; Engro Corporation was up 4 paisa to Rs132.05 on 1.1 million shares.
Fauji Fertiliser Bin Qasim shed 11 paisa to Rs59.72 on 0.765 million shares and Azgard Nine conceded 8 paisa to close at Rs3.71 on 0.649 million shares.
DEFAULTER COS: SS Oil Company on the Food Producers sector dipped by 14 paisa to close at Rs4.50 on 500 shares, while trading in 7,501 shares was seen in Mukhtar Textile up 7 paisa to Re 0.29.
Functional websites mandatory for firms
ISLAMABAD, Nov 19: The Securities and Exchange Commission of Pakistan has decided to make mandatory for all the listed companies to maintain functional websites to improve flow of information for the share holders.
The SECP commission is expected to notify the new requirement in the coming week, after which over 73 per cent of the listed companies in the country will be required to develop their functional website.  Currently, there are 524 listed companies in the country 225 have web presence but only 142 have a functional portal.
However, it has been proposed that the requirement be enforced from March 2012,so that the companies have adequate time to make necessary preparations.
An official of the SECP said that the requirement was in line with current global technological development, to give
shareholders access to information. It is a cost-effective measure for dissemination of material information.

“The corporate sector regulator had advised the listed companies in 2003 to maintain their websites and now it is time to enforce it,” said a senior official of the commission.
According to the SECP, the companies needed to incorporate in the website vision, mission and scope and details of business activities, annual reports for the current financial year and the previous two years, interim accounts.
The companies will have to post their earning per share, P/E ratio as per latest available yearly financial statements, board of directors and shareholding pattern, name of share registrar, detail of associated companies and their website linkif available.
The websites of the companies needed to have detailed site map, addresses of registered office, head office, contact details, online forms for assisting and handling investor grievances including reference to SECP complaint address.
The companies would also be required to post their recognitions at the website, including national and international awards
and membership of industry associations and trade bodies and relevant weblinks. The official websites of the listed companies should also have media portals containing published news items and clarifications regarding the company.

The SECP directive to be notified in the next commission meeting has demanded the listed companies to display the date when the website was updated.
An official of the SECP said: “It is mutually beneficial way for the companies and shareholders because websites are the most cost-effective platform to provide relevant information to shareholders and the investors.”
The proposal to maintain a functional website for all listed companies has been forwarded by the company law division of the SECP.
It has also been highlighted that relevant practice is observed in India, UK, USA, Australia and even Kenya.
Mohammed Saleem Mansoori

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