Daily Stock Market update: 21st Dec,2011

Stock

Karachi Stocks Up 242.39 Points:
KARACHI, Dec 20: At close of trading, the KSE-100 index was at 11325.42, up 242.39 points.

December 20, 2011

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Nestle Pakistan	Rs 116.46	Unilever Foods	Rs (7.69)
Siemens Pakistan	Rs 36.67	Indus Motors	Rs (3.56)
Wyeth Pakistan	Rs 32.59	Unilever Pakistan	Rs (3.69)
Service Industries	Rs 7.71	Mirpurkhas Sugar	Rs (2.31)
National Refinery	Rs 6.26	Nadeem Textiles	Rs (2.10)

KSE 30 – Shares Index	Previous 10,161.18, Tuesday’s 10,409.25, plus 248.07 points
KSE 100 – Shares Index	Previous 11,083.03, Tuesday11,338.04, plus 255.91 points
MARKET CAPITALIZATION	Previous 11,083.03, Tuesday11,338.04, plus 255.91 points
VOLUME LEADERS	WorldCall Telecom 11.991m, J.S & Co 10.908m, Engro Corporation 6.305m, Lotte Pakistan 6.193m, Fauji Fertiliser Bin Qasim 3.660m shares.
TOTAL VOLUME	77.801m shares
TOTAL	TONE; Firm, total listed 638, actives 310, inactives 328, plus 150, minus 79, unchanged 81

KSE-100 Index stages smart recovery of 256 points

KARACHI, Dec 20: The shares market on Tuesday staged a smart recovery on active covering purchases at attractively lower levels in fertiliser and oil sectors, aided by strong rumours about early positive changes in the CAPITAL GAINS TAX regime.
Although many were not clear or fathom about the possible changes in the CGT that too at the end of the year, as rumours
have it, everyone tried to ride the bandwagon, putting the market back on the rails just in one go.
A massive increase of 2.30 per cent or 255.91 points at 11,338.04 in the benchmark reflects some may have the information about the changes in the CGT, but others just followed the trend of a highly oversold market.
Fauji Fertiliser whose board meets tomorrow to approve business plan for the next year led the market advance closely followed by Fauji Fertiliser Bin Qasim; even the Engro Corporation, which has dropped to a new low owing to reported closure of its new urea plant, and MCB were the star performer.
But the index heavy OGDC, which rose by Rs5.58 at 159.41 alone contributed about a half of the total rise, floor brokers said.
“The market has been in a highly oversold position and needed a technical correction at the lower levels,” said a leading analyst Ahsan Mehanti, adding “the rumour-mongers made it successfully look so.”
He said in part the covering purchases may well be a part of year-end portfolio dressing but whether the snap rally extends itself or not, would show the reasons behind the speculative rise.
Analyst Samar Iqbal said the market has been in a highly oversold position because of negative political developments and needed correction alone on technical grounds and that came in from short-covering in selected shares having potential of
quick capital gains.
Top gainers included Nestle Pakistan and Siemens Pakistan, up by Rs116.46 and 36.67, while losers were led by Unilever Foods and Indus Motors, off Rs7.69 and 3.56.
Traded volume rose to 77.801m shares as gainers held a strong lead over losers at 150 to 79, with 81 shares holding on to the last levels.
The actives list was led by WorldCall Telecom, easy by three paisa at 0.81 on 12m shares followed by JS & Co, lower by eight paisa at 4.19 on 11m shares, Engro Corporation, up Rs4.59 at 96.56 on 6m shares, Lotte Pakistan, steady by 45 paisa at 9.52 also on 6m shares, Fauji Fertiliser Bin Qasim, up Rs2.16 at 48.03 on 4m shares, Fatima Fertiliser, higher by Rs1.07 at 22.49 on 4m shares and DG Khan Cement, higher 90 paisa at 19.00 on 4m shares.
Azgard Nine followed them, up 36 paisa at 3.46 on 3m shares, Fauji Fertiliser, sharply higher by Rs4.88 at 154.86 also on 3m shares and MCB, up Rs3.44 at 140.70 on 3m shares.
FUTURE CONTRACTS: Engro Corporation led the list of actives on this counter and recovered by Rs4.62 at 97.03 on a large volume of 2.029m shares followed by Fauji Fertiliser, higher by Rs4.87 at 155.58 on 0.893m shares and DG Khan Cement, firm by 92 paisa at 19.09 on 0.809m shares.
They were followed by Azgard Nine, steady 25 paisa at 3.40 on 0.698m shares and Fauji Fertiliser Bin Qasim, higher by Rs2.09 at 48.03 on 0.616m shares.
DEFAULTER COs: Kohinoor Industries came in for active support and led the list of actives, up 11 paisa at Rs1.05 on 0.115m shares, followed by Dost Steel, steady one paisa at 1.19 on 22,927 shares and Dadabhoy Cement, easy by one paisa at 1.41 on 17,909 shares.

Mohammed Saleem Mansoori