DAILY STOCK MARKET UPDATE:11.01.2012

Stock

Karachi Stocks Down 107.13 Points:
KARACHI, Jan 10: At close of trading, the KSE-100 index was at 10933.18 , down 107.13 points.

January 10, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Mirpurkhas Sugar	Rs 1.47	Nestle Pakistan	Rs (109.26)
Shifa International	Rs 1.14	Unilever Pakistan	Rs (73.10)
Ghani Textiles	Rs 0.98	Indus Dyeing	Rs (19.90)
Reliance Weaving	Rs 0.91	Al-Ghazi Tractor	Rs (9.40)
Sindh Abadgar Sug	Rs 0.50	Service Industries	Rs (4.61)

KSE 30 – Shares Index	Previous 10,124.20, Tuesday’s 10,061.44, minus 62.76 points
KSE 100 – Shares Index	Previous 11,040.31, Tuesday’s 10.933.18, minus 107.33 points
MARKET CAPITALIZATION	Previous Rs 2,872.516bn, Tuesday’s 2,845.341bn, minus 27.264bn
VOLUME LEADERS	Habib Sugar 4.445m, Hub-Power 4.411m, Lotte Pakistan 3.936m, Soneri Bank 3.116m, Fatima Fertiliser 2.494m shares.
TOTAL VOLUME	43.526m shares
TOTAL	TONE; easy, total listed 638, actives 329, inactives 309, plus 52, minus 175, unchanged 102

Equities maintain downward drift

KARACHI, Jan 10: The share values on Tuesday maintained their downward drift on active selling in the blue chip sector amid fears of negative fallout of Supreme Court verdict on NRO after the expiry of deadline of Jan 10.
Although the apex court`s ruling was still awaited till the closing bell, selling engulfed the leading stocks, notably on the oil counter to cash in on the available margin of profits.
The benchmark suffered a fresh fall of 107.13 points at 10,933.18 or one per cent, eroding another Rs27 billion from the market capital, the total during the last two sessions being Rs49 billion as those shares, which still havemargins were hit again.
The continued foreign selling in the heavy-weight OGDC continued to have a destabilising effect on the broader market after it shed another over Rs2 and was quoted around Rs134.06, floor brokers said.
It has a good record of oil and gas recovery during the recent past and should not be the centre of foreign selling, they said and addedthat foreign selling may be the outcome of political situation in the country and factional political fight.
They said even those leading shares, which have a good earning record, notably fertiliser and sugar sectors, are also witnessing a lot of selling from the locals also.The shares market needs an instant morale booster, which could lure investors back at the prevailing attractively lower levels, they said, adding some positive news about the collection of capitalgains tax may be one of them.
Prominent gainers were led by Mirpurkhas Sugar and Shifa International, up Rs1.47 and 1.14 while losers were led by Nestle Pakistan and Unilever Pakistan, offRs109.26 and 73.10 respectively.
Turnover figure rose to 43.524m shares from the previous 21m shares but losers held a strong lead over the gainers at 175 to 52, with102shares holding on to the last levels.
The active list was topped by Habib Sugar, off 76 paisa at Rs22.02 on 5m shares, followed by Hub-Power, steady by nine paisa at 33.68 also on 5m shares, Lotte Pakistan, lower 30 paisa at 9.84 on 4m shares. Soneri Bank, easy one paisa at 4 on 3m shares, Fatima Fertiliser, firm by 12 paisa at 22.78 on 3m shares, National Bank, off 81 paisa at 43.44 on 2m shares and Engro Corporation, up 44 paisa at 95.38 on 2m shares.
They were followed by JS & Co, easy by two paisa at 4.04 on 2m shares, OGDC, off Rs1.95 at 134.06 on 1.365m shares and Fauji Fertiliser Bin Qasim, lower 11 paisa at 41.94 on 1.337m shares.FUTURE CONTRACTS: National Bank was traded lower by 72 paisa at Rs43.78 on 0.938m shares followed by Engro Corporation, higher by 58 paisa at 96.11 on 0.662m shares and OGDC, sharply lower by Rs2.46 at 134.60 on 0.587m shares.
Fauji Fertiliser followed them, lower by 47 paisa at 156.72 on 0.523m shares and Fauji Fertiliser Bin Qasim easy by 16 paisa at 42.15 on 0.374m shares.
DEFAULTER COs: Genertech Power led the list of actives, steady by fives paisa at 0.35 on 48,045 shares followed by Dost Steel, firm by four paisa at 1.15 on 21,685 shares and Kohinoor Power, easy by two paisa at 1.48 on 8,705 shares.

Mohammed Saleem Mansoori