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Monday, 6 February 2012

DAILY STOCK MARKET UPDATE: 07.02.2012

Stock

Karachi Stocks Up 170.79 Points:
KARACHI, Feb 06: At close of trading, the KSE-100 index was at 12153.41, up 170.79 points.



5 TOP COMPANIES GAINERS AND LOOSERS:

Indus Dyeing            Rs 20.14         UniLever Pak Ltd.          Rs (18.94)
Nestle Pakistan        Rs 16.43          National Refinery          Rs (3.05)
Pak Oilfields             Rs 4.45            Attock Refinery             Rs (2.95)
PSO                           Rs 3.88            Tri-Pack Films                Rs (1.99)
EFU                           Rs 3.56             JWD Sugar                   Rs (1.95)

KSE 30 – Shares Index
    Previous 11,258.08, Monday’s 11,381.33, plus 123.25 points

KSE 100 – Shares Index
    Previous 11,982.62, Monday’s 12,136.92, plus 154.30 points

MARKET CAPITALIZATION
    Previous Rs 3,116.815bn, Monday’s Rs 3,158.637bn, plus Rs 41.822bn

VOLUME LEADERS
    J.S.& Co 32.148m, D.G.K. Cement 12.625m, Lafarge Pakistan 9.829m, Bank Al-Falah 8.244m, National Bank 8.028m.

TOTAL VOLUME
    196.299m shares

TOTAL
    TONE: Bullish, total listed 614, actives 349, inactives 265, plus 195, minus 79, unchanged 75
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KSE 100-index settles above 12,000-level

KARACHI, Feb 6: The share market on Monday emitted bullish sparks as investors maintained their new year buying on a higher note and built up long positions on selected counters, notably oil sector at the current levels.

The KSE 100-share index shot up by another 1.29 per cent or 154.30 points at 12,136.92 points as compared to previous 11,982.62 points as leading base shares finished further higher.

Among leading base shares including National Bank, MCB Bank, Fauji Fertiliser and some others supported the index to cross the barrier of 12,000 points. The market is now eyeing next chart level of 13,000-level not in distant future.

But the major aiding factor was sharp rise in oil shares, notably OGDC, Pakistan Oilfields, PSO, Pakistan Petroleum and Attock Petroleum.

But a record cash dividend of 500 per cent by Unilever Pakistan for the year ended Dec 31, 2011 raised hopes that overdue announcements from the other blue-chips may also be on the higher side and invoked a lot of buying in their respective counters.

The market’s buoyant mood was also well-reflected in the volume figure, which soared to a two-year high as bull appeared to be in a violent mood and targeted scrips having a potential of quick higher capital gains.

“I don’t think foreign buyers have resumed their normal activity as the oil sector stayed weak,” analyst Ahsan Mehanti said.

Barring leading fertiliser shares bulk of the support remained confined to undervalued shares which reflected that no one was inclined to take major risk at this stage.

However, one thing appears certain that the future sailing on the market would be smooth irrespective of negative political undercurrent, he said.

“The flood of buying orders indicates that most of the investors have found some cue about the outlook of the share business,” said analyst Faisal A. Rajabali.

The higher volume reflects that a solid foundation is being laid by a section of leading brokers on the perception that the volume figure above the 200m shares is capable of sustaining the current buying euphoria, said another leading analyst Samar Iqbal.

Trading volume soared to 196.299m shares from the previous 131m shares as gainers led losers by 195 to 79, with 75 shares holding on to the last levels.

The active list was led by J.S. & Co, steady 10 paisa at Rs7.56 on 32m shares followed by D.G. Khan Cement, firm by 61 paisa at Rs24.83 on 13m shares, Lafarge Pakistan, firm five paisa at Rs2.29 on 1om shares, Bank Alfalah, steady 26 paisa at Rs12.50 on 8m shares, National Bank, higher by Rs2.15 at Rs45.29 also on 8m shares, Azgard Nine, easy eight paisa at Rs4.21 on 8m shares and Silkbank, firm by 20 paisa at Rs1.91 on 7m shares.

Bank of Punjab rose 68 paisa at Rs6.46 also on 7m shares, Summit Bank, steady 48 paisa at Rs2.39 on 6m shares and J.S. Bank up Re1 at Rs3.74 on 5m shares.

FUTURE CONTRACTS: Active trading was witnessed in D.G. Khan Cement, up 57 paisa at Rs24.91 on 2.386m shares, followed by National Bank, sharply higher by Rs2.17 at Rs54.60 on 1.613m shares and Engro Corporation, easy 22 paisa at Rs122.60 on 1.047m shares.

They were followed by Attock Refinery, sharply lower by Rs2.67 at Rs123.91 on 0.701m shares and Fauji Fertiliser, higher by Rs2.36 at Rs186.33 on 0.646m shares.

DEFAULTER COMPANIES: Dost Steels came in for active support and rose by 19 paisa at Rs1.59 on 0.2m shares followed by Kohinoor Industries, steady by eight paisa at Rs1.01 on 52,670 shares and Dadabhoy Cement, up 10 paisa at Rs1.50 on 17,667 shares.



MOHAMMED SALEEM MANSOORI

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