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Tuesday, 24 January 2012

DAILY STOCK MARKET UPDATE: 25.01.2012



Stock



Karachi Stocks Down 46.28Points:
KARACHI, Jan 24: At close of trading, the KSE-100 index was at 11991.40, down 46.28points.

January 24, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:
Engro Corporation
Rs 5.41
Nestle Pakistan
Rs (75.00)
Linde Pakistan
Rs 5.13
Colgate Pakistan
Rs (28.31)
Indus Motors
Rs 3.17
Wyeth Pakistan
Rs (18.18)
Agriautos
Rs 2.67
Millat Tractors
Rs (7.59)
United Bank
Rs 2.35
Attock Petroleum
Rs (7.41)

KSE 30 – Shares Index
Previous 11,221.38, Tuesday’s 11,181.40, minus 39.98 points
KSE 100 – Shares Index
Previous 12,037.65, Tuesday’s 11,991.40, minus 46.28 points
MARKET CAPITALIZATION
Previous Rs3,123.304bn, Tuesday’sRs3,113.509bn, minus Rs9.795bn
VOLUME LEADERS
J.S. & Co 30.339m, Bank Alfalah 17.095m, Lotte Pakistan 9.922m, Fatima Fertiliser 8.750m and D.G. Khan Cement 8.641m shares.
TOTAL VOLUME
200.55m shares
TOTAL
TONE: Easy, total listed 638, actives 370, inactives 268, plus 126, minus 131, unchanged 113

Karachi Stocks undergo technical correction
KARACHI, Jan 24: The share market on Tuesday failed to extend the overnight run-up as some of the leading base shares came in for active profit-selling and drove it into the minus column.
But analysts said it appeared to be a technical pause as there was no reason to believe that the technical correction was overdue after a bagful of relief announced by the finance minister on Saturday.
The KSE 100-share index posted a modest fall of 46.28 points at 11,991.38 as compared to 12,037.65 a day earlier after opening higher at 12,097.93.
Active selling in index-heavyweight OGDC, Pakistan Oilfields, Fauji Fertiliser and some others pushed it down below the psychological barrier of 12,000 points.
But renewed buying in Engro Corporation limited the fall.
“The selling was tactically motivated,” analyst Ahsan Mehanti said and added that some of the shares in the fertiliser and oil sector had responded beyond their mandate to acceptance of major demands of the investing public in the share business and needed correction
He said a section of leading investors sold in these pivotals and to pick them up at the lower rates both for long-term investment and quick capital gains.But indications are that current run-up is expected to continue in the coming sessions also despite technical corrections here and there as the market got the relief for which it has been yearning for the last couple of years.
The bulk of the activity again remained centered to the low-priced shares as a section of investors was still in two minds about the future direction of the market, said analyst Samar Iqbal.
He said the leading investors who could foresee the future direction of the market were all-out for fresh covering purchases at the current level both for quick gains and long-term investment.
Prominent gainers were led by Engro Corporation and Linde Pakistan, up by Rs5.41 and Rs5.13, while losers were led by Nestle Pakistan and Colgate Pakistan, off Rs75 and Rs28.31 respectively.
Turnover figure was maintained on the higher side at 200.055m shares as losers managed to have a modest edger over the gainers at 131 to 126, with 113 shares holding on to the last levels.
The active list was again topped by JS & Co, steady by 12 paisa at Rs6.61 on 30m shares followed by Bank Alfalah, easy by one paisa at Rs12.15 on 17m shares, Lotte Pakistan, off 65 paisa at 10.03 on 10m shares, Fatima Fertiliser, lower 35 paisa at Rs22.18 on 9m shares, D.G. Khan Cement, steady six paisa at Rs22.11 also on 9m shares, National Bank, higher by Rs1.15 at Rs45.36 on 9m shares and Azgard Nine, lower by eight paisa at Rs3.98 on 8m shares.
They were followed by Arif Habib Corporation, lower 10 paisa at Rs29.16 on 8m shares, Engro Corporation, higher by Rs6.59 at Rs116.09 on 7m shares and Fauji Fertiliser, off Rs4.54 at Rs175.41 on 6m shares.
FUTURE CONTRACTS: Engro Corporation also came in for strong support and was quoted higher by Rs5.35 at Rs116.22 on a large volume of 2.591m shares followed by both the settlements of National Bank, higher by Rs1.03 and Rs1.60 at Rs45.32 and Rs45.91 respectively on 1.947m and 1.042m shares.
Fauji Fertiliser Bin Qasim followed them, easy 19 paisa at Rs50.11 on 1.441m shares and Arif Habib Corporation, easy by two paisa at Rs29.38 on 1.186m shares.
DEFAULTER COMPANIES: Dost Steels again came in for strong support and was quoted further higher by 18 paisa at Rs1.69 on 0.167m shares followed by Kohinoor Industries, easy four paisa at Rs0.90 on 51,657 shares and Khoinoor Power, up 10 paisa on 10,006 shares.
All others showed fractional change amid slow activity.

KSE to delist 24 companies
KARACHI, Jan 24: The Karachi Stock Exchange proposes to delist two dozen companies with effect from Wednesday, February 1, 2012.
Those include: Alif Textile Industries; Apex Fabrics; Dadabhoy Leasing Company; Delta Insurance Company; Indus Polyester Company; InterAsia Leasing Company; Islamic Investment Bank; Long term Venture Capital Modaraba; Mehran Jute Mills; Myfip Video Industries; Norrie Textile Mills; Pakistan Northern Insurance Company; Rashid Textile Mills; Schon Modaraba; Sterling Insurance Company; Taga Pakistan; Tawakkal Garment Industries; Unity Modaraba; Uqab Breeding Farms; Pak Ghee Industries; Siftaq International; Turbo Tec; Valika Woollen Mills and First Dadabhoy Modaraba.
The earliest among them were placed on the ‘defaulters’ counter as far back as in August, 1997.
In regard to the proposed delisted entities, the KSE said that ‘the companies are under process of Liquidation or Liquidators have been appointed or the Companies have already been dissolved previously and the trading in the shares of the companies had already been suspended by the exchange.
The KSE notice released on Tuesday encompasses all aspects of its steps. Analysts said that given that only seven companies were delisted in the whole of last year.
Mohammed Saleem Mansoori

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