DAILY STOCK MARKET UPDATE:10.01.2012

Stock

Karachi Stocks Down 85.05 Points:
KARACHI, Jan 09: At close of trading, the KSE-100 index was at 11040.30, down 85.05 points. 

January 9, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Unilever Pak Ltd.	Rs 98.67	Nestle Pakistan	Rs (143.19)
PSO	Rs 4.06	Exide (Pak)	Rs (2.83)
ICI Pakistan	Rs 3.28	Packages Limited	Rs (2.68)
Tri-Pack Films	Rs 2.60	Attock Petroleum	Rs (2.18)
Thal Ltd	Rs 2.45	OGDC	Rs (1.76)

KSE 30 – Shares Index	Previous 10,165.59, Monday’s 10,124.20, minus 41.39 points
KSE 100 – Shares Index	Previous 11,125.35, Monday’s 11,040.31, minus 85.04 points
MARKET CAPITALIZATION	Previous Rs2,893.212bn, Monday’s 2,872.516bn, minus 20.691bn.
VOLUME LEADERS	Fatima Fertiliser 2.704m, TRG Pakistan 2.132m, Lotte Pakistan 1.323m, KESC 0.956m,Thal Ltd 0.857m
TOTAL VOLUME	20.914m shares
TOTAL	TONE: easy, total listed 638, actives 302, in-actives 336, plus 70, minus 112, unchanged 120

Karachi Stocks extend weekend bearishness

KARACHI, Jan 9: The weekend bearishness was extended on the stock market on Monday on renewed selling in leading oil and fertiliser shares under the lead of OGDC.
The benchmark KSE 100share index shed another 85.04 points at 11,040.31 as compared to previous 11,125.35 a week earlier, reflected the weakness of the some leading base shares.
OGDC again led the list of losers, off Rs1.76 at 136.01 on 0.337m shares followed by other index heavy-weights, Fauji Fertiliser, National Bank, Engro Corporation, which ended modestly lower thanks to support at the dips.
`Fears of fresh foreign selling again hunted investors who liquidated long positions on some of the blue chips counters under the lead ofOGDC, one of the massive weightage holder in the benchmark,` said a leading analyst Ahsan.
But low volume around 21m shares reflects that leading investors maintained a status quo and did not opt for large or panic selling, which enabled the market to avert major fall, he said.
`It may not be that productive to buy shares even at the falling prices,` he said jokingly. `It is the time to watch and have an overview of the future perceptions of political leaders on various national issues on the TV and have a tension-free sound sleep.
He said the entire activity appeared to be a jobbing affair in which jobbers and short-term dealers took part in the absence of major players as was reflected by mostly fractional price changeseven on the blue chip counters.
`Foreign selling was witnessed on some of the leading oil shares but it was not that aggressive to cause major dents in the prevailing price structure,` said another analyst Samar Iqbal but fears it could assume an alarmingproportions in due course as on-going hearing on memogate case is being keenly watched by the leading investors before opting for new buying.
Prominent gainers were led by PSO and Unilever Pakistan, up by Rs4.06 and 98.67, while top losers includ-ed Nestle Pakistan and exide Pakistan, off by Rs143.19 and 2.83, respectively.
Traded volume fell to 20.914m shares from the previous 39m shares but losers held a fair lead over the gainers at 112 to 70, with 120 holding on to the last levels.
The active list was toppedby Fatima Fertiliser, lower by 35 paisa at 22.66 on 3m shares followed by TRG Pakistan, easy by eight paisa at 1.07 on 2m shares, Lotte Pakistan, steady by nine paisa at10.14 on 1.323m shares, KESC, firm by seven paisa at 1.72 on 0.967m shares, Thal Industries, higher by Rs2.45 at 82.19 on 0.858m shares, Fauji Fertiliser Bin Qasim, lower 45 paisa at 42.05 on 0.710m shares, and NIB Bank, steady by five paisa at 1.70 on 0.547m shares.
They were followed by National Bank, lower 11 paisa at 44.25 on 0.505m shares, Engro Corporation, off 80 paisa at 94.94 on 0.498m shares, and Fauji Fertiliser, lower 90 paisa at 156.11 on 0.489m shares.
FUTURE CONTRACTS: The active list was led byFauji Fertiliser, off 88 paisa at 157.19 on 0.310m shares followed by Fauji Fertiliser Bin Qasim, easy 45 paisa at 42.31 on 0.277m shares, and Engro Corporation, off 93 paisa at 95.53 on 0.233m shares.
They were followed by National Bank, easy by 17 paisa at 44.50 on 0.193m shares and OGDC, off Rs1.73 at 137.06 on 0.149m shares.
DEFAULTER COs: The activity on this counter remained dull as investors were not inclined to make bigger commitments and mostly indulged in jobbing.
IBL Modaraba, led the list of actives, up 40 paisa at Rs2.40 on 5,000 shares, followed by Dadabhoy Cement, lower 43 paisa at 1.22 on 4,000 shares and Kohinoor Industries, firm by five paisa at 0.95 on 3,970 shares. Others were traded fractionally.

KSE proposes RMGS for brokers

KARACHI, Jan 9: The Board of Directors of Karachi Stock Exchange approved the development of a Risk Management Gateway System (RMGS) for Brokerage Houses.
The bourse announced on Monday that the system was `going through rigorous User`s Acceptance Test (UAT)`. It stated that subject to successful outcome of the tests, the RMG would be introduced by Jan 30, 2012.
KSE observed that RMGS would make the trading system of brokers more efficient, provide them systematic control and monitoring ability over their clients` trading activities.
It would help improve general compliance of brokers for trade related rules and regulations in the following manner: the members would be able to exercise control and check their clients` orders permissible quantity and amount with respect to their held margins or any other limit that may be required for risk management system of brokerage houses.
Secondly, it would provide members, the ability to control incidents of unintended `wash sales` and would help identify `Blank Sales` and `Short sales`, including enforcement of client wise symbol restrictions and/or any other restriction that members may required to be placed on any of their specific client from risk management point of view, at order level.
The KSE management said it believed the RMG implementation would be a `mile stone` achievement with respect to Risk Management and Trade related Regulatory compliance of brokers, which would have a positive impact on investor confidence on the system and investors perception of a robust risk management system a the exchange.

Mohammed Saleem Mansoori