DAILY STOCK MARKET UPDATE:13.01.2012

Stock

Karachi Stocks Up 95.00 Points:
KARACHI, Jan 13: The KSE-100 index was at 11004.12, up 95.00 points.(today 11.47 am)

January 12, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:

Nestle Pakistan	Rs 17.38	Bata Pakistan	Rs (38.75)
Tri-Pack Films	Rs 4.96	Al-Ghazi Tractor	Rs (8.46)
Mitchelle’s Farms	Rs 4.30	Millat Tractors	Rs (3.91)
Ismail Industries	Rs 2.43	National Refinery	Rs (2.08)
Fauji Fertiliser	Rs 1.73	Salfi Textiles	Rs (1.96)

KSE 30 – Shares Index	Previous 100,68.49,Thursday’s 100,60.65,minus 7.84 points
KSE 100 – Shares Index	Previous 10,930.49,Thursday’s 10.909.12,minus 21.37 points
MARKET CAPITALIZATION	Previous Rs.2,844.834bn,Thursday’s 2,840.075bn,minus 4.59bn
VOLUME LEADERS	Fauji Fertiliser Bin Qasim 2.666m, National Bank 1.966m, Fatima Fertiliser 1.909m, Fauji Fertiliser 1.712m,KESC 1.276m shares..
TOTAL VOLUME	21.120m shares
TOTAL	TONE: bearish, total listed 638, actives 298, inactives 340, plus 81, minus 100, unchanged 117

Stocks hit 5-month low amid fears of standoff on NRO

KARACHI, Jan 12: The shares market on Thursday hit a five-month low as investors adhered to the sidelines most of the time, fearing a standoff between major government institutions on some national issues after the Supreme Court verdict on NRO issue.The KSE 100-share index suffered a fresh modest fall of 21.37 points at 10,909.12 as compared to 10,930.49 a day earlier, being the session`s high.
Owing to active short-covering on selected counters, notably MCB, Fauji Fertiliser and some leading food shares, notably Nestle Pakistan, the loss was limited to a modest proportion for the second session in a row.
Analysts said the develop-ing situation on the political front, notably Supreme Court ruling on the NRO issue, seemed to have triggered a judicious blend of mixed reaction from various quarters.
But what seemed to have steamed out of the market was the uncertainty that has engulfed the market, driving away investors, both local and foreign one for the time being, they said.Wait and see appears to be the hallmark of entire trading pattern, indicating that no one was inclined to take even a calculated risk at this stage, they added.
They feared that a long recession period appears ahead as investors may not opt for covering purchases even at the falling prices andon blue chip counters ensuring higher capital gains.
However, some of the investors ventured to buy some of the leading fertiliser and bank shares under the lead of MCB and some othersbut they failed to change the market psychology.
Leading gainers were led by Nestle Pakistan and TriPack Films, up by Rs17.38 and 4.96, while top losers included Bata Pakistan and Al-GhaziTractors, off by Rs38.75 and 8.48.
Turnover figures fell further to 21.120m shares from the previous 23.057m shares as losers held a modest lead over gainers at 100 to 81, with117 shares holding on to the last levels.
The active list was led by Fauji Fertiliser, easy by eight paisa at Rs43.29 on 3m shares followed by National Bank, off Rs1.07 at 41.81 on 2m shares, Fatima Fertiliser, steady by 15 paisa at 22.98 also on 2m shares, Fauji Fertiliser, higher by Rs173 at 160.71 on 2m shares, KESC, lower 12 paisa at Rs1.76 on 1.276m shares, Engro Corporation, off Rs1.10 at 94.41 on 0.957m shares, and JS & Co, easy one paisa at Rs4.07 on 0.919m shares.
They were followed by TRG Pakistan, steady by five paisa at 1.20 on 0.717m shares, NIB Bank, unchanged at 1.68 on 0.536m shares and Bank of Punjab, easy by four paisa at 5.51 on 0.465m shares.
FUTURE CONTRACTS: The National Bank came in for renewed selling and fell by Rs1.19 at 42.00 on 0.710m shares followed by Fauji Fertiliser, up Rs1.55 at 161.47 on 0.705m shares and Fauji Fertiliser Bin Qasim, easy by 12 paisa at 43.47 on 0.611m shares.They were followed by Engro Corporation, off Rs1.15 at 94.90 on 0222m shares and MCB higher by Rs1.04 at 147.21 on 0.112m shares.
DEFAULTER COs: Dost Steel came in for active selling and fell by three paisa at Rs1.12 on 52,705m shares followed by Saritow Spinning, off 18 paisa at 1.49 on 15,189 shares and Genertech Power, up seven paisa at 0.35 on 5,001 shares. Others were traded fractionally.

Mohammed Saleem Mansoori