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Monday, 20 February 2012

DAILY STOCK MARKET UPDATE: 21.02.2012


Stock
Karachi Stocks Up 19.50 Points:
KARACHI, Feb 20: At close of trading, the KSE-100 index was at 12515.18, up 19.50 points.

February 20, 2012





TOP  5  SCRIPTS GAINERS AND LOOSERS:

UniLever Pak Ltd.
Rs 49.86
Siemens Pakistan
Rs (12.43)
Nestle Pakistan
Rs 35.79
Wyeth Pak Limited
Rs (10.22)
Bata (Pak) Ltd.
Rs 28.00
Linde Pakistan
Rs (5.23)
Fazal Textile
Rs 10.81
Atlas Battery
Rs (2.83)
Island Textile
Rs 6.62
Shell Pakistan
Rs (2.80)



Karachi Stocks extend weekend gains
KARACHI, Feb 20: The share market on Monday resumed trading on a higher note but mid-session selling in some of the overvalued scrips slowed down the initial rising tempo in an actively traded session.
The on-balance closing was, however, maintained on the higher side.The KSE 100-index finished the session with an extended gain of 22.22 points at 12,517.90 as compared to previous 12,495.68 as leading base shares in the oil, banking and some other sectors came in for renewed support and ended higher and kept the index afloat.
An interim dividend of 250 per cent by Millat Tractors for the half year ended Dec 31, 2011 on pretax profit of Rs814.056m was well-received by the investors as was reflected by an increase of Rs3.17 in its share value at Rs459.93 but Al-Ghazi Tractors failed to maintain its recent upturn and ended lower by Rs2.31 at Rs185.18.
The interesting feature of the trading was that investors remained shy of taking fresh stake in the blue chips counters despite the fact that some of them were in firing range, analysts Ashraf Zakaria said and added that it reflected new mode of investment dictated by the objective conditions and investor reluctance to take financial risk.
Bulk of the trading volume of 233m shares again remained confined to the low-priced issues, notably JS & Co as investors were not inclined to move out from low-priced shares, analyst Ahsan Mehanti said.
“There could be many reasons behind the current investor operational strategy,” he said “but the big question is why they are satisfied on fractional traded gains rather than opting for big bucks”.
He said many are not inclined to take financial risks in the backdrop of changing background political news and were playing safe on the maxim “larger the volumes smaller the safe gains”.
Analyst Samar Iqbal said although some of the leading companies were still in the process of declaring their interim and final earnings but apart from pre- or post-dividend flashes in them instances of follow-up support were lacking.
“Small-cap issues are performing a remarkable job and are keeping the investor interest alive after having provided an alternate avenue of investment,” he said.
Plus signs again dominated the list under the lead of Unilever Pakistan and Nestle Pakistan, up by Rs49.86 and Rs35.79, while major losers included Siemens Pakistan and Wyeth Pakistan, off Rs12.43 and Rs10.22 respectively.
Traded volume was maintained at the overnight level of 233m shares but gainers held a strong lead over the losers at 140 to 104, with 201 shares holding onto the last levels.
The active list was again topped by JS & Co, up 98 paisa at Rs10.39 on a large volume of 38m shares followed by Azgard Nine, easy by five paisa at 7.67 on 24m shares, Fauji Cement, lower by 68 paisa at Rs4.11 on 22m shares, D.G. Khan Cement, firm by 17 paisa at Rs25.33 on 16m shares, Bank Alfalah, up 39 paisa at Rs13.59 on 15m shares, TRG Pakistan, up 37 paisa at Rs2.30 also on 15m shares and Bank of Punjab, up Re1 at Rs8.10 on 14m shares.
They were followed by Lafarge Pakistan, lower by 16 paisa at Rs2.28 on 6m shares, Summit Bank, higher by 61 paisa at Rs3.11 also on 6m shares and BankIslami Pakistan, higher by 43 paisa at Rs5.14 on 6m shares.
FUTURE CONTRACTS: The actives’ list on this counter was led by D.G. Khan Cement, steady 15 paisa at Rs25.39 on 2.156m shares followed by Engro Corporation, easy by 32 paisa at Rs131.77 on 1.185m shares, while its March settlement rose by Rs1.16 at Rs101.23 on 0.762m shares.
Other actives were led by National Bank, easy 19 paisa at Rs49.00 on 0.984m shares and D.G. Khan Cement, March contract, higher by 40 paisa at Rs25.64 on 0.765m shares.
DEFAULTER COMPANIES: Bulk of the support again remained confined to Dost Steels, firm by four paisa at rS2.32 on 0.133m shares followed by Mukhtar Textiles, lower six paisa at Rs0.44 on 17,210 shares and Kohinoor Industries, steady by four paisa at Rs1.04 on 13,064 shares and Genertech, firm by four paisa at Rs0.48 on 11,006 shares.

 Mohammed Saleem Mansoori

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