DAILY STOCK MARKET UPDATE: 22.11.2011

Stock

Karachi Stocks Down 43.02 Points:
KARACHI, Nov 21: At close of trading, the KSE-100 index was at 11894.79, down 43.02 points.

November 21, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Pakistan Cables	Rs 1.17	UniLever Pak Ltd	Rs (117.56)
Ittehad Chemical	Rs 1.16	Bata (Pak) Ltd	Rs (32.29)
Wazir Ali Industries	Rs 1.00	Nestle Pakistan	Rs (7.00)
Ashfaq Textiles	Rs 1.00	Siemens Pak	Rs (4.71)
Fauji Fertiliser	Rs 0.63	National Refinery	Rs (4.71)

KSE 30 – Shares Index	Previous 11,222.58,Monday’s 11,192.96,minus 29.62 points
KSE 100 – Shares Index	Previous11,937.81, Monday’s 11,894.79, minus 43.02 points.
MARKET CAPITALIZATION	Previous Rs.3,104.858bn, Monday’s 30,93.288bn, minus 10.570bn.
VOLUME LEADERS	Bank AlFalah 5.499m, Wateen Telecom 2.098m, National Bank 1.981m,Nishat Mills 1.863m, Fatima Fertiliser 1.582m shares.
TOTAL VOLUME	31.097m shares
TOTAL	TONE;easy,total listed 638,actives 327,inactives 311,plus 68,minus 141,unchanged 118

KSE-100-share index loses 43 points

KARACHI: The shares market on Monday failed to extend the weekend rally as follow-up support turned shy in the absence of active institutional and foreign buying even at the dips.
The KSE 100-share index suffered a decline of 43.02 points at 11,894.79 points as compared to last weekend close of 11,937.81 points, reflecting the weakness of leading base shares, notably in the fertiliser sector.
The minor either-way movements of the bench mark reflects that bulls are not inclined to toe the general line of action of investors and are not in a mood to entertain any idea below the barrier of 12,000 points.
Both the leading base shares in oil and fertiliser sector remained under pressure and shed much of gains netted last weekend, signalling that the market is still passing through the consolidation phase.
“Of late, the fertiliser sector has assumed the role of market trend sector,” analyst Ahsan Mehani said” the assumption of higher profits after the increase in selling prices of urea may have sound reasons behind it but much would depend on the behaviour of counter market forces.”
He said although there is a remote possibility of any further change in the discount rate in the next meeting of the central bank by the end of the current month in the wake of previous cut, a section of investors is, however, worried in the developing economic situation and is playing safe.
Another leading analyst Samar Iqbal said the current turmoil on the political front in the form of massive show of strength through public meetings also worried investors who think twice before taking new positions even on the blue chip counters.
And on top of it is the normal presence of foreign investors who are not inclined to take long positions even on their choice sectors because of political uncertainty, he added.
Minus signs dominated the list under the lead of Unilever Pakistan and Bata Pakistan, off Rs117.56 and 32.29, while major gainers included Pakistan Cables and Ittehad Chemicals, up by Rs1.17 and 1.16.
Turnover figure fell to 31.097m shares from the weekend 39m shares as losers held a fair lead over the gainers at 141 to 68, with 118 shares holding on to the last levels.
The active list was topped by Bank Al Falah, easy by three paisa at Rs12.04 on 6m shares followed by Wateen Telcom, steady by three paisa at 1.88 on 2m shares, National Bank, firm by 34 paisa at 44.52 on 2m shares, Nishat Mills, off 81 paisa at 43.36 on 2m shares, Fatima Fertiliser, lower four paisa at 23.01 also on 2m shares. Byco Petroleum, steady by five paisa at 7.25 on 1.147m shares and Fauji Fertiliser, up 63 paisa at 173.38 on 1.105m shares.
They were followed by Lucky Cement, firm 21 paisa at 82.66 on 0.908m shares, Lotte Pakistan, easy by 15 paisa at 10.63 on 0.900m shares and PTCL, lower by six paisa at 10.74 on 0.873m shares.
FUTURE CONTRACTS: Azgard Nine, both settlements, fell by nine paisa at for the November settlement, while its ruling contract rose by one paisa at 3.75 on 1.354m and 1.286m shares followed by Nishat Mills, off 94 paisa at 43.40 on 0.540m share.
They were followed by Fauji Fertiliser, higher by 2.98 at 175.80 on 0.408m shares and Engro Corporation, off 81 paisa at 131.67 on 0.361m shares.
DEFAULTER COs: Buying interest on this counter was on the lower side as half a dozen shares, which came in for stray bouts of buying and selling showed fractional price changes under the lead of Shaharyar Textiles, lower 14 paisa at 0.16 on 3, 4011 shares followed by Genertech Power, easy four paisa at 0.32 on 3, 307 shares.
Pak PVC, fell by 42 paisa at Rs4.08 on 1, 440 shares, while all others ended unchanged.
BOARD MEETINGS: Wateen Telecom, on Nov 22, Pakistan Telephone Cables, on 23, Siemens Pakistan on Nov 24, Shaheen Insurance on Nov 24, Honda Atlas Cars on Nov 25 and Atlas Honda at on Nov 28.

Karachi Stock Exchange meeting approves election issue

KARACHI, Nov 21: The members of the Karachi Stock Exchange met on Monday to discuss and approve a single item on the agenda: It was proposed and approved that all members would be required to cast all five votes that they are entitled to at the election of directors of the KSE.
The meeting was chaired by Munir Kamal and attended by the members of the board.
A member present at the meeting said that around 60 brokers participated, out of the strong 200-member fraternity.
But the proceedings were over as soon as they started for all members unanimously voted in favour of the resolution.
The resolution seeks to make it mandatory for all members to cast all five votes at the election to the board.
A member explained that it was a long standing issue that many members cast less than their entitlement which undercut votes of candidates competing for a seat on the board.
Another stock broker meeting would take place on Dec 8, which holds the prospects of larger participation and fiery discussion.
The issue would be to increase the number of years in office of the Board of Directors, from current one year, to two years.
A broker said that at an earlier meeting the members had unanimously rejected the suggestion to raise term from one to three years.
“It has to be seen if brokers stick to a one year term or adopt the new resolution”, he said. Election to the KSE Board would be held on Dec 29.

Mohammed Saleem Mansoori