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Wednesday, 18 January 2012

DAILY STOCK MARKET UPDATE:19.01.2012



Stock



Karachi Stocks Up 44.76 Points:
KARACHI, Jan 19: The KSE-100 index was at 11592.48, up 44.76 points. 

January 18, 2012

TOP  5  SCRIPTS GAINERS AND LOOSERS:
Unilever Pakistan
Rs 243.49
Wyeth Pakistan
Rs (24.56)
Nestle Foods
Rs 133.81
Unilever Foods
Rs (22.00 )
Millat Tractors
Rs 17.92
Indus Dyeing
Rs (19.49)
OGDC
Rs 6.92
Mitchell’s Farms
Rs (4.51)
Tri-Pack Films
Rs 4.85
Indus Motors
Rs (1.60)

KSE 100 – Shares Index
Previous 11,305.16, Wednesday’s 11,547.72, plus 242.56 points
MARKET CAPITALIZATION
Previous Rs2,938.121bn, Wednesday’s Rs2,998.901bn, plus Rs60.780bn
VOLUME LEADERS
Sui North Gas 6.889m, Fauji Fertiliser Bin Qasim 6.003m, National Bank 5.344m, Engro Corporation 5.265m, Fatima Fertiliser 4.561m shares.
TOTAL VOLUME
83.732m shares
TOTAL
TONE: Bullish, total listed 638, actives 340, inactives 298, plus 158, minus 69, unchanged 113



Karachi Stocks add 242 points on strong corporate earnings
KARACHI: The stock market on Wednesday remained in a bullish frame of mind as investors continued to build up long positions on the oil and fertiliser counters on reports of higher earnings amid a briskly traded session.
The KSE 100-share index added another 242.56 points at 11,547.72, adding Rs61 billion to the market capital at Rs2,998.901 as compared to 11,305.16 a day earlier thanks to strong selective support.
The major contribution in the galloping index was heavy buying in the OGDC which rose by another Rs7 and added over 112 points alone in the total being index-heavy.
`It has recovered a major portion of the losses suffered during the last couple of sessions on some adverse comments on new gas find,` analysts said. `But as the reports were verified, the new oil and gas finds were of the higherorder and that triggered buystops in it`.
They said for the last couple of sessions, it has been star performer and carrying along with the entire market to its prereaction levels amid brisk two-way activity.
Market sources said interim board meetings of some of the leading companies were due by the end of the current month and expectations of high dividends continued to inspire fresh support.Fertiliser shares, notably Engro Corporation, were also among the major contributors to the current run-up and so were some of the leading food shares under the lead of Nestle Pakistan and Unilever Pakistan.
Leading gainers were led byUnilever Pakistan and Nestle Pakistan, up Rs243.49 and Rs133.81, while among the top losers Wyeth Pakistan and Unilever Foods were prominent, off by Rs24.56 and Rs22.00 respectively.
Traded volume showed fresh rise and amounted to 83.732m sharesfrom the previous 53m shares as gainers held a strong lead over the losers at 158 to 69, with 113 shares holding on to the last levels.
The active list was led by Sui Northern Gas, steady by two paisa at Rs16 on 6.889m shares followed by Fauji Fertiliser Bin Qasim, high-er by Rs2.17 at Rs46.74 on 6m shares, National Bank, lower 39 paisa at Rs42.11 on 5.344m shares, Engro Corporation, higher by Rs3.33 at Rs103.78 on 5.285m shares, Fatima Fertiliser, firm by six paisa at Rs23.28 on 4.561m shares, D.G. Khan Cement, lower 14 paisa at Rs20.20 on 3.799m shares, and Nishat Mills, up Rs1.36 at Rs42.73 on 3.548m shares.
They were followed byFauji Fertiliser, firm by 86 paisa at Rs166.03 on 3.450m shares, Lotte Pakistan, steady by 10 paisa at Rs10.12 on 3.138m shares and Kot Addu Power, firm by four paisa at Rs40.01 on 2.702m shares.
FUTURE CONTRACTS: Engro Corporation led the list of activeson this counter on strong support followed by reports of strong earnings and was quoted further higher by Rs3.33 at Rs104.21 on 1.936m shares followed by National Bank, lower 34 paisa at Rs42.26 on 1.830m shares and Fauji Fertiliser Bin Qasim, steady by 76 paisa at Rs46.91 on 1.599m shares.
They were followed by Fauji Fertiliser, up 78 paisa at Rs167.40 on 0.945m shares and Attock Refinery, firm by 51 paisa at Rs110.15 on 0.661m shares.
DEFAULTER COMPANIES: Much of the activity again remained confined to Dost Steels, up 10 paisa at Rs1.22 on 25,287 shares followed by Dadabhoy Cement, easy 27 paisa at Rs1.45 on 5,004 shares and Shakarganj Foods and Shahpur Textiles, up 55 paisa and unchanged at Rs5.55 and Rs0.19 on 2,000 shares each. Others were fractionally traded.

US consul general visits bullish KSE
KARACHI: US Consul General William Martin has expressed confidence about Pakistan`s future and highlighted that growth and benefit to people will be led by `business`.
Speaking at the Karachi Stock Exchange on Wednesday, the consul general said that his government was active in promoting US investment in Pakistan, particularly in the energy sector. As an example he pointed to a US-Pakistan consortium proposal to the government to build LNG import infrastructure.
He expressed the United States` commitment to a strong bilateral relationship and to continuing strengthening of economic opportunities between the two countries.
William Martin was on a visit to the KSE. He obliged by sounding the gong that started the day`s trading. `The consul general expressed delight on his visit to the bourse, which he categorised as an important symbol of Karachi`s role as Pakistan`s economic and commercial capital`, a press release by the bourse sated.
It said that Mr Martin applauded the initiative taken by the KSE`s board to promote dialogue with regional exchanges. The envoy was greeted by Muneer Kamal, member of the Board of Directors and Nadeem Naqvi, Managing Director of KSE.
Several sitting and former directors of the exchange were present on the occasion including,Yasin Lakhani, Haji Ghani Haji Usman, Majeed Adam, Saeed Butt, Abid Ali Habib, Zafar Moti and Mohammad Sohail.
In his welcome remarks, Muneer Kamal thanked the consul general for gracing the occasion. He expressed strong faith in the future of the country and the capital market.
Nadeem Naqvi in his closing remarks said the visit would boost investor confidence and send a positive signal regarding the future of the stock market.
The bulls took complete charge of the Pakistani equity markets on Wednesday with benchmark KSE-100 index posting a massive increase of 243 points to close over the psychological level of 11,500 at 11,548 points. Volumes hit a 16-week high at 84 million shares.
Analysts said that the main cause was the public expectation of a thaw in government judiciary tussle after the appointment of Itezaz Ahsan as lawyer to the prime minister for the apex court hearing on Thursday.
Surprisingly, the daylong belief by the investors of foreigners` comeback was belied by figures released by the National Clearing Company of Pakistan in the evening that showed foreign investors as `net sellers` of equity worth a massive $4.86 million during the day. Yet, all of it was absorbed by individuals who bought net $2.10 million worth of shares and local funds picking up equity worth $1.47 million.
Brokers and traders cheered as the benchmark and volumes rose after weeks of gloom. Surely nothing to do with the US consul general visit to KSE, but several brokers said it had proved a good omen.
`Let Mr Martin sound the gong at the start of trading tomorrow as well`, a broker chirruped, grinning from ear to ear.

Mohammed Saleem Mansoori

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