Daily Stock Market update: 16 Dec,2011

Stock

Karachi Stocks Down 180.14 Points:
KARACHI, Dec 15: At close of trading, the KSE-100 index was at 11120.85, down 180.14 points.

December 15, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Colgate Pakistan	Rs 4.24	Unilever Pakistan	Rs (76.87)
Dadex Eternit	Rs 1.77	Nestle Pakistan	Rs (23.40)
Leiner Pakistan	Rs 1.00	National Refinery	Rs (10.11)
Ferozens	Rs 1.00	P.S.O.	Rs (9.22)
Shifa International	Rs 0.76	Pak Oilfields	Rs (6.99)

KSE 30 – Shares Index	Previous 10,469.17, Thursday’s 10,251.92, minus 217.25 points
KSE 100 – Shares Index	Previous 11,300.99, Thursday’s 11,139.52, minus 161.47 points.
MARKET CAPITALIZATION	Previous Rs.2,930.232bn, Thursday’s 2,889.045bn, minus 41.187bn
VOLUME LEADERS	Fatima Fertiliser 5.991m, Hub-Power 4.136m, Fauji Fertiliser 3.423m, Lotte Pakistan3.283m, Engro Corporation 2.570m shares.
TOTAL VOLUME	52.038m shares
TOTAL	TONE;easy,total listed 638,actives 316,inactives 322,plus 39,minus 188,unchanged 89

KSE Index loses 161 points on panic selling

KARACHI, Dec 15: Share values on Thursday came in for renewed selling across the board followed by panic selling triggered by a combination of negative news, both on political and US aid fronts.
The chief destablising factor, however, appears to be conditional US aid linked to war on terror and uncertain local political dispensation in the backdrop of prime minister’s statement on various national issues.
The market’s disturbing stance to changing background news may well be had from the fact that the benchmark index early fell to a low of 11,058.07 points on nervous selling in most of the pivotals, but later institutional support at the dips allowed it to end partially recovered at 11,139.52, off 1.43 per cent or 161.47 points.
Leading base shares, which received a massive battering were led by Engro Corporation followed by reports of its shutdown for want of gas, Fauji Fertiliser, Fauji Fertiliser Bin Qasim, National Bank, Attock Refinery and several other blue chips.
Aanalyst Ahsan Mehanti said what seemed to have triggered all-round panic selling was the rumour of exit of foreign investors from the local bourse in number but it is a bit difficult to quantify it immediately.
He said rigid positions taken by both Pakistan and the US on some of the national issues seemed to have further compounded the situation and the perception that the resumption of normal ties with the US early will continue to take their toll.
But another analyst Samar Iqbal was of the view that bad news from the one of the market trend setter fertiliser sector did not allow consolidation forces to come into play and so is the exit of foreign investors from the oil sector.
Minus dominated the list under the lead of Unilever Pakistan and Nestle Pakistan, off Rs76.87 and 23.40 respectively, while among the top gainers Colgate Pakistan and Dadex Eternit were leading, up by Rs4.24 and 1.77.
Traded volume rose to 52.038m shares from the previous 35m shares but losers maintained a fair lead over the gainers at 188 to 39, with 89 shares holding on to the last levels.
The active list was led by Fatima Fertiliser, lower by 60 paisa at Rs21.50 on 5.991m shares followed by Hub-Power, easy by 89 paisa at 35.15 on 4.136m shares, Fauji Fertiliser Bin Qasim, off Rs2.13 a 46.18 on 3.423m shares, Lotte Pakistan easy by 26
paisa at 8.77 on 3.283m, Engro Corporation, sharply lower by Rs4.95 at 99.08 on 2,570m shares, JS & Co, lower 25 paisa at 4.72 on 2.365m shares, and PTCL off 17 paisa at 9.99 on 2.331m shares.
FUTURE CONTRACTS: Engro Corporation remained under pressure and was further marked down by Rs4.90 at 99.81 on 1.155m shares followed by Fauji Fertilier lower by Rs4.07 at 153.67 on 0.810m shares and Fauji Fertiliser Bin Qasim, off Rs2.15 at 46.41 on 0.725m.
They were followed by National Bank lower 60 paisa at 40.09 on 0.623m shares and Attock Refinery, off Rs3.15 at 108.51 on 0.318m shares.
DEFAULTER COs: The activity on this counter was relatively slow in the absence of demand and as a result a couple of shares came in for either-way movements on stray selling and buying.
Shakarganj Foods whose directors have omitted the dividend for the financial year ended June 30, 2011, came in for active support and rose by one rupee at Rs5.50 on 16,000 shares followed by Dots Steel, unchanged at Rs1.17 on 17,805 shares and Sakrand Sugar, lower 10 paisa at 1.50 on 9,500 shares.

Mohammed Saleem Mansoori