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Friday, 3 February 2012

DAILY STOCK MARKET UPDATE: 03.02.2012




Stock
Karachi Stocks Up 19.94 Points:
KARACHI, Feb 03: The KSE-100 index was at 11949.72, up 19.94points.(today 12.00am)

5 TOP GAINERS AND LOOSERS:

MCB Bank Ltd.          Rs 5.80    Siemens Pakistan    Rs (43.22)
Engro Corporation       Rs 5.43    Nestle Pakistan    Rs (16.33)
Service Ind                  Rs 4.67    Attock Petroleum    Rs (7.54)
Mitchelle’s                   Rs 4.48    National Refinery    Rs (5.30)
Sitara Chemical            Rs 3.74    PSO    Rs (4.80)

KSE 30 – Shares Index
    Previous 11,221.73, Thursday’s 11,223.23, plus 1.50 points.

KSE 100 – Shares Index
    Previous 11,930.55, Thursday’s 11,929.78, minus 0.77 points.

MARKET CAPITALIZATION
    Previous Rs.3,097.659bn, Thursday’s 3,100.336bn, plus 2.677bn.

VOLUME LEADERS
    J,S.& Co 21.378m, Engro Corporation 8.210m, Fatima Fertiliser 6.373m, Azgard Nine 5.921m, D.G.K.Cement 5.741m.

TOTAL VOLUME
    107.722m shares

TOTAL
    TONE;mixed,total listed 614,actives 318,inactives 296,plus 113,minus 123,unchanged 82


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Equity market stays flat

KARACHI, Feb 2: Stocks remained unsettled throughout the session on Thursday as investors played on both sides of the fence partly owing to ongoing hearing in the contempt case against the prime minister and partly to below market expectations profits by some leading oil companies.

Investors were in the new year market on hopes that corporate announcements both interim and final due for the year ended Dec 31, may be on the higher side but some of the blue chips, which had already announced their working results failed to enthuse investors so far as was reflected by the erratic price movements, dealers said.

The KSE 100-share index suffered a factional fall of 0.77 points at 11,929.78 as compared to 11,930.55 a day earlier supported by active buying in some of the leading shares under the lead of MCB Bank, Engro Corporation and Attock Refinery.

On the corporate front an interim cash dividend of 175 per cent by Attock Petroleum failed to find favour with the investors as they were hoping bonus shares also and its share price fell sharply by Rs7.54 at Rs433.74 on 0.114m shares.

But on the other hand, its sister companies, notably Attock Refinery and Attock Cement performed well followed by reports of an interim cash dividend at rate of 15 and 25 per cent respectively.

What seemed to have worked against the underlying sentiment was below analyst predictions profits sans bonus issue by the oil giant, Pakistan Petroleum, which caused sympathetic selling in other leading oil shares, said floor brokers.

The market could have suffered sharp setback in the process and near-panic but active short-covering in the Engro Corporation and its sister company Engro Foods saved the situation a bit, they added.

Many may not agree but the volatile performance of the market reflects that investors are unsure about the return of political sanity soon and are not inclined to opt for long-term investment even some of the shares are in the firing range and promise higher capital gains, some others said.

And that is perhaps alternate bouts of buying and selling are the hallmark of the entire trading and each rise follows a quick reaction on small margins of profits, keeping the market unsettled.

Leading gainers were led by MCB Bank and Engro Corporation, up Rs5.80 and Rs5.43 while losers were led by Siemens Pakistan and Nestle Pakistan, off by Rs43.22 and Rs16.33 respectively.

Traded volume further rose to 107.722m shares but losers held a modest lead over the gainers at 123 to 113, with 82 shares holding onto the last levels.

The active list was again topped by J.S. & Co, firm by 29 paisa at Rs6.77 on 21m shares followed by Engro Corporation, sharply higher by Rs5.43 at Rs122.07 on 8m shares, Fatima
Fertiliser, steady by 53 paisa at Rs22.48 on 6m shares, Azgard Nine, firm by 12 paisa at Rs3.92 on 6m shares, D.G. Khan Cement, steady by eight paisa at Rs23.43 also on 6m shares, Fauji Fertiliser, sharply lower by Rs3.46 at Rs184.68 on 4m shares and Fauji Fertiliser Bin Qasim, lower 37 paisa at Rs46.50 also on 4m shares.

They were followed by National Bank, easy by 11 paisa at Rs43.52 on 4m shares, Nishat Mills, higher by Rs1.87 at Rs47.46 on 3m shares and Arif Habib Corporation, up 37 paisa at 28.39 on 3m shares.

FUTURE CONTRACTS: The active list was led by Engro Corporation, higher by Rs5.26 at Rs122.85 on 2.567m shares followed by Fauji Fertiliser Bin Qasim, lower 48 paisa at Rs46.73 on 1.162m shares and Fauji Fertiliser, off Rs3.46 at Rs186.16 on 0.955m shares.

They were followed by D.G. Khan Cement, steady by five paisa at 23.62 on 0.925 shares and Attock Refinery, up 55 paisa at Rs121.87 on 0.685m shares.

DEFAULTER COMPANIES: Much of the activity again remained confined to Dost Steels, which came in for active selling and fell by seven paisa at Rs1.40 on 48,167 shares followed by
Genertech Power, unchanged at Rs0.40 on 37,503 shares and Quice Foods, lower by 10 paisa at Rs3 on 20,789 shares.

Among the other actives, Mukhtar Textiles rose by 28 paisa at Rs0.74 on 10,129 shares, while others were fractionally traded.




MOHAMMED SALEEM MANSOORI

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